Avanos Medical (NYSE:AVNS) Releases FY 2019 Earnings Guidance

Avanos Medical (NYSE:AVNS) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.15-1.25 for the period, compared to the Thomson Reuters consensus estimate of $1.23. The company issued revenue guidance of $704.484-717.53 million, compared to the consensus revenue estimate of $694.54 million.Avanos Medical also updated its FY19 guidance to $1.15-1.25 EPS.

Shares of AVNS traded down $0.64 during mid-day trading on Wednesday, reaching $36.59. 647,611 shares of the company’s stock were exchanged, compared to its average volume of 329,027. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.22 and a current ratio of 2.77. The stock’s 50-day simple moving average is $42.03. Avanos Medical has a 52-week low of $35.21 and a 52-week high of $72.96. The company has a market cap of $1.82 billion, a P/E ratio of 44.62 and a beta of 1.46.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. Avanos Medical had a net margin of 2.58% and a return on equity of 4.92%. The business had revenue of $172.20 million during the quarter, compared to analysts’ expectations of $172.02 million. During the same period last year, the company posted $0.20 EPS. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Avanos Medical will post 1.24 EPS for the current fiscal year.

A number of research analysts have recently weighed in on AVNS shares. Zacks Investment Research cut shares of Avanos Medical from a hold rating to a sell rating in a research note on Monday, May 6th. Morgan Stanley set a $47.00 price objective on shares of Avanos Medical and gave the stock a sell rating in a research note on Wednesday, May 8th. Raymond James dropped their price objective on shares of Avanos Medical from $57.00 to $48.00 and set an outperform rating for the company in a research note on Wednesday. Finally, ValuEngine raised shares of Avanos Medical from a hold rating to a buy rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The company has an average rating of Hold and an average target price of $60.00.

In other news, CEO Joseph Fralin Woody bought 3,500 shares of the stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $39.95 per share, with a total value of $139,825.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.57% of the stock is currently owned by insiders.

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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