Avanos Medical (NYSE:AVNS) Reaches New 12-Month Low Following Weak Earnings

Key Points

• Avanos Medical shares dropped to a new 52-week low of $9.30 following a quarterly earnings report that failed to meet analyst expectations, with EPS at $0.17 compared to the forecast of $0.18.
• The company's revenue for the quarter was $175 million, exceeding the expected $165.5 million, but it also reported a significant net margin of -55.80%.
• Despite the poor performance, institutional investors continue to hold a majority stake, owning 95.17% of the company, with entities like JPMorgan increasing their holdings by 189.8% during the fourth quarter.

Avanos Medical, Inc. (NYSE:AVNS - Get Free Report) hit a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $9.30 and last traded at $9.98, with a volume of 1634728 shares. The stock had previously closed at $11.25.

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 6.26% and a negative net margin of 55.80%. The firm had revenue of $175.00 million for the quarter, compared to the consensus estimate of $165.50 million. During the same period in the previous year, the company posted $0.34 EPS.

Institutional Investors Weigh In On Avanos Medical

A number of institutional investors have recently added to or reduced their stakes in AVNS. American Century Companies Inc. boosted its position in Avanos Medical by 9.6% during the fourth quarter. American Century Companies Inc. now owns 105,112 shares of the company's stock valued at $1,673,000 after purchasing an additional 9,249 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Avanos Medical during the fourth quarter valued at about $162,000. LPL Financial LLC boosted its position in Avanos Medical by 25.5% during the fourth quarter. LPL Financial LLC now owns 20,552 shares of the company's stock valued at $327,000 after purchasing an additional 4,176 shares in the last quarter. Vanguard Group Inc. boosted its position in Avanos Medical by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company's stock valued at $85,009,000 after purchasing an additional 19,476 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Avanos Medical by 189.8% during the fourth quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company's stock valued at $3,210,000 after purchasing an additional 132,063 shares in the last quarter. Institutional investors own 95.17% of the company's stock.

Avanos Medical Stock Performance

The business has a 50-day moving average of $12.03 and a two-hundred day moving average of $13.51. The company has a market cap of $461.48 million, a P/E ratio of -1.19 and a beta of 1.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.57 and a quick ratio of 1.56.

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.

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