Avanos Medical (NYSE:AVNS) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Avanos Medical from hold to strong sell, adding to a generally bearish analyst view of the stock. MarketBeat data shows an overall average rating of Sell.
• Avanos Medical recently beat quarterly expectations, reporting EPS of $0.22 versus $0.16 expected and revenue of $182.2 million versus $170 million expected. Revenue also rose 8.8% year over year.
• The stock was trading near its 52-week high at $24.80, with a market cap of about $1.16 billion and strong institutional ownership of 95.17%.

Avanos Medical (NYSE:AVNS - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the company. Wall Street Zen cut Avanos Medical from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Weiss Ratings upgraded shares of Avanos Medical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of "Sell".

Avanos Medical Stock Up 0.1%

AVNS opened at $24.80 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.48 and a quick ratio of 1.26. The business has a 50 day simple moving average of $17.26 and a 200-day simple moving average of $14.02. The stock has a market capitalization of $1.16 billion, a P/E ratio of -15.40 and a beta of 1.58. Avanos Medical has a 12 month low of $9.30 and a 12 month high of $24.81.

Avanos Medical (NYSE:AVNS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $182.20 million during the quarter, compared to analysts' expectations of $170.00 million. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, equities analysts anticipate that Avanos Medical will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avanos Medical

A number of institutional investors have recently made changes to their positions in AVNS. EverSource Wealth Advisors LLC raised its holdings in shares of Avanos Medical by 132.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company's stock worth $28,000 after acquiring an additional 1,423 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Avanos Medical by 49.7% in the third quarter. Versant Capital Management Inc now owns 2,692 shares of the company's stock valued at $31,000 after buying an additional 894 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Avanos Medical by 969.3% in the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company's stock valued at $31,000 after buying an additional 2,307 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Avanos Medical in the third quarter valued at approximately $70,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Avanos Medical by 433.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company's stock valued at $77,000 after buying an additional 5,083 shares during the last quarter. 95.17% of the stock is owned by institutional investors and hedge funds.

Avanos Medical Company Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company's products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.

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