Avanos Medical Inc (AVNS) Expected to Announce Quarterly Sales of $172.67 Million

Equities research analysts forecast that Avanos Medical Inc (NYSE:AVNS) will report sales of $172.67 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avanos Medical’s earnings, with estimates ranging from $170.90 million to $174.10 million. Avanos Medical reported sales of $160.90 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The company is expected to issue its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Avanos Medical will report full year sales of $695.51 million for the current fiscal year, with estimates ranging from $693.90 million to $697.50 million. For the next fiscal year, analysts expect that the firm will post sales of $735.44 million, with estimates ranging from $728.96 million to $739.40 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Avanos Medical.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, May 7th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). Avanos Medical had a return on equity of 4.92% and a net margin of 2.58%. The firm had revenue of $164.20 million for the quarter, compared to analyst estimates of $163.72 million. During the same period in the previous year, the company earned $0.76 earnings per share. Avanos Medical’s revenue for the quarter was up 5.0% compared to the same quarter last year.

A number of equities analysts have recently weighed in on AVNS shares. Zacks Investment Research raised Avanos Medical from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. ValuEngine lowered Avanos Medical from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. KeyCorp lowered their target price on Avanos Medical from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 27th. Finally, Morgan Stanley set a $47.00 target price on Avanos Medical and gave the stock a “sell” rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Avanos Medical currently has a consensus rating of “Hold” and an average target price of $63.00.

Shares of NYSE:AVNS traded down $1.70 during trading on Thursday, reaching $40.76. 307,059 shares of the stock were exchanged, compared to its average volume of 349,465. The company has a quick ratio of 2.22, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. Avanos Medical has a 1-year low of $38.00 and a 1-year high of $72.96. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 49.71 and a beta of 1.41.

A number of institutional investors have recently made changes to their positions in the stock. Diversified Trust Co grew its stake in shares of Avanos Medical by 12.5% during the 1st quarter. Diversified Trust Co now owns 9,165 shares of the company’s stock worth $391,000 after acquiring an additional 1,020 shares during the period. HighTower Advisors LLC grew its stake in shares of Avanos Medical by 13.0% during the 1st quarter. HighTower Advisors LLC now owns 5,555 shares of the company’s stock worth $245,000 after acquiring an additional 640 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Avanos Medical by 3.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,198 shares of the company’s stock worth $306,000 after acquiring an additional 255 shares during the period. Macquarie Group Ltd. grew its stake in shares of Avanos Medical by 5.5% during the 1st quarter. Macquarie Group Ltd. now owns 1,092,183 shares of the company’s stock worth $46,614,000 after acquiring an additional 57,177 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Avanos Medical by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,540,061 shares of the company’s stock worth $65,730,000 after acquiring an additional 5,141 shares during the period. Institutional investors and hedge funds own 91.96% of the company’s stock.

About Avanos Medical

Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.

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