Avanos Medical (NYSE:AVNS) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Beat: Avanos reported EPS of $0.22, beating estimates by $0.08, and revenue of $182.2M versus a $170M consensus, with revenue up 8.8% year-over-year.
• Profitability mixed: the company posted a negative net margin of 10.40% while delivering a positive return on equity of 5.47%.
• Market and sentiment: shares ticked to $24.71 with a $1.15B market cap and ~95% institutional ownership, but analysts' consensus rating is "Reduce" after recent downgrades.

Avanos Medical (NYSE:AVNS - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.08, FiscalAI reports. Avanos Medical had a negative net margin of 10.40% and a positive return on equity of 5.47%. The business had revenue of $182.20 million for the quarter, compared to the consensus estimate of $170.00 million. During the same period in the previous year, the firm earned $0.26 EPS. The company's quarterly revenue was up 8.8% compared to the same quarter last year.

Avanos Medical Stock Up 0.2%

Shares of NYSE:AVNS traded up $0.05 during trading on Tuesday, reaching $24.71. 206,935 shares of the stock traded hands, compared to its average volume of 1,050,438. The stock has a market cap of $1.15 billion, a P/E ratio of -15.64 and a beta of 1.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.26 and a current ratio of 2.15. The stock has a 50-day moving average of $16.66 and a two-hundred day moving average of $13.73. Avanos Medical has a 52-week low of $9.30 and a 52-week high of $24.75.

Institutional Trading of Avanos Medical

A number of institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC bought a new position in shares of Avanos Medical during the fourth quarter valued at $234,000. Vident Advisory LLC bought a new stake in Avanos Medical in the 4th quarter worth about $585,000. State of Tennessee Department of Treasury increased its holdings in Avanos Medical by 50.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 41,405 shares of the company's stock worth $465,000 after buying an additional 13,799 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Avanos Medical in the 4th quarter worth about $201,000. Finally, NewEdge Advisors LLC raised its position in Avanos Medical by 36,740.6% in the 4th quarter. NewEdge Advisors LLC now owns 48,998 shares of the company's stock worth $550,000 after buying an additional 48,865 shares during the last quarter. Institutional investors own 95.17% of the company's stock.

Wall Street Analyst Weigh In

AVNS has been the topic of several research analyst reports. Wall Street Zen cut shares of Avanos Medical from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Weiss Ratings upgraded shares of Avanos Medical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, April 22nd. Finally, Zacks Research raised Avanos Medical from a "strong sell" rating to a "hold" rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce".

About Avanos Medical

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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