Avanos Medical (NYSE:AVNS) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Avanos Medical has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen.
• The company's stock opened at $10.78, with a market cap of approximately $499.96 million and has experienced significant debt management with a debt-to-equity ratio of 0.12.
• Avanos Medical reported a negative net margin of 66.89% in its latest quarterly earnings, with EPS falling short of expectations at $0.17.

Wall Street Zen cut shares of Avanos Medical (NYSE:AVNS - Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday.

Avanos Medical Price Performance

AVNS stock traded up $0.19 during trading on Friday, reaching $10.98. 259,798 shares of the company were exchanged, compared to its average volume of 518,820. The company has a 50-day moving average of $11.85 and a two-hundred day moving average of $13.32. The company has a market capitalization of $509.49 million, a price-to-earnings ratio of -1.09 and a beta of 1.12. Avanos Medical has a twelve month low of $9.30 and a twelve month high of $25.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.58.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Avanos Medical had a positive return on equity of 6.16% and a negative net margin of 66.89%. The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $165.50 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, equities analysts predict that Avanos Medical will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avanos Medical

A number of institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. grew its holdings in Avanos Medical by 24.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,757,576 shares of the company's stock worth $53,847,000 after acquiring an additional 746,264 shares during the last quarter. Armistice Capital LLC bought a new stake in Avanos Medical during the 1st quarter worth approximately $28,660,000. Brown Advisory Inc. grew its holdings in Avanos Medical by 1.4% during the 1st quarter. Brown Advisory Inc. now owns 1,931,163 shares of the company's stock worth $27,674,000 after acquiring an additional 26,069 shares during the last quarter. Tributary Capital Management LLC grew its holdings in Avanos Medical by 10.0% during the 2nd quarter. Tributary Capital Management LLC now owns 810,720 shares of the company's stock worth $9,923,000 after acquiring an additional 73,518 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Avanos Medical by 32.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 608,635 shares of the company's stock worth $8,722,000 after acquiring an additional 148,619 shares during the last quarter. 95.17% of the stock is owned by institutional investors.

Avanos Medical Company Profile

Avanos Medical, Inc, a medical technology company, offers 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.