Q2 2023 EPS Estimates for Avanos Medical, Inc. (NYSE:AVNS) Boosted by Analyst

Posted by Defense World Staff on Jun 24th, 2023

Avanos Medical, Inc. (NYSE:AVNS – Get Rating) – Equities researchers at KeyCorp upped their Q2 2023 EPS estimates for Avanos Medical in a research note issued to investors on Tuesday, June 20th. KeyCorp analyst M. Mishan now forecasts that the company will earn $0.34 per share for the quarter, up from their prior estimate of $0.32. The consensus estimate for Avanos Medical’s current full-year earnings is $1.64 per share. KeyCorp also issued estimates for Avanos Medical’s Q4 2023 earnings at $0.62 EPS.

Avanos Medical (NYSE:AVNS – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $191.70 million during the quarter, compared to analyst estimates of $195.20 million. Avanos Medical had a net margin of 5.34% and a return on equity of 6.11%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.26 EPS.

Several other research firms have also recently commented on AVNS. TheStreet cut Avanos Medical from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. StockNews.com began coverage on Avanos Medical in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, CL King began coverage on Avanos Medical in a report on Monday, May 22nd. They issued a “buy” rating and a $31.00 target price for the company. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Avanos Medical presently has an average rating of “Moderate Buy” and an average target price of $30.25.

Avanos Medical Trading Down 0.9 %

Avanos Medical stock opened at $25.87 on Friday. The business has a 50 day moving average price of $25.75 and a two-hundred day moving average price of $27.63. The company has a quick ratio of 1.60, a current ratio of 2.86 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 28.12 and a beta of 0.92. Avanos Medical has a 12 month low of $19.32 and a 12 month high of $31.99.

Institutional Investors Weigh In On Avanos Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Avanos Medical by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 5,334,332 shares of the company’s stock valued at $178,700,000 after purchasing an additional 112,546 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Avanos Medical by 9.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,173,794 shares of the company’s stock valued at $94,387,000 after purchasing an additional 281,958 shares in the last quarter. State Street Corp increased its holdings in Avanos Medical by 0.5% during the 1st quarter. State Street Corp now owns 2,018,705 shares of the company’s stock valued at $67,627,000 after purchasing an additional 9,410 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Avanos Medical by 24.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,998,871 shares of the company’s stock valued at $66,962,000 after purchasing an additional 392,870 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Avanos Medical by 21.4% during the 1st quarter. Macquarie Group Ltd. now owns 1,987,355 shares of the company’s stock valued at $59,104,000 after purchasing an additional 349,799 shares in the last quarter. 93.45% of the stock is owned by institutional investors and hedge funds.

Avanos Medical Company Profile

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Avanos Medical, Inc, a medical technology company, focuses on delivering medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.