Avanos Medical (NYSE:AVNS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Avanos Medical Inc. operates as a medical technology company. It offers infection prevention, surgical, respiratory, digestive health and pain management solutions. Avanos Medical Inc., formerly known as Halyard Health Inc., is headquartered in Alpharetta, Georgia. “
Several other analysts have also commented on the company. Barclays assumed coverage on Avanos Medical in a report on Monday, October 15th. They issued an “equal weight” rating and a $69.00 price objective on the stock. Morgan Stanley raised their price objective on Avanos Medical from $60.00 to $62.00 and gave the company an “underweight” rating in a report on Thursday, October 11th. Raymond James raised Avanos Medical from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. Finally, KeyCorp raised their price objective on Avanos Medical from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Avanos Medical currently has an average rating of “Hold” and a consensus price target of $69.25.
Avanos Medical stock opened at $50.61 on Wednesday. The stock has a market cap of $2.31 billion, a P/E ratio of 21.54 and a beta of 1.86. Avanos Medical has a 52 week low of $43.78 and a 52 week high of $72.96. The company has a current ratio of 2.78, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19.
Avanos Medical (NYSE:AVNS) last posted its earnings results on Tuesday, November 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The firm had revenue of $165.10 million for the quarter, compared to analyst estimates of $166.57 million. Avanos Medical had a return on equity of 6.59% and a net margin of 14.26%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts anticipate that Avanos Medical will post 1.86 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Synovus Financial Corp acquired a new stake in Avanos Medical in the third quarter valued at approximately $2,186,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Avanos Medical in the second quarter valued at approximately $1,033,000. Gateway Investment Advisers LLC purchased a new position in shares of Avanos Medical in the third quarter valued at approximately $926,000. Fox Run Management L.L.C. purchased a new position in shares of Avanos Medical in the third quarter valued at approximately $704,000. Finally, North Star Asset Management Inc. purchased a new position in shares of Avanos Medical in the third quarter valued at approximately $1,937,000. 84.10% of the stock is currently owned by institutional investors.
Avanos Medical Company Profile
Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.
Featured Story: Swap
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Avanos Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avanos Medical and related companies with MarketBeat.com's FREE daily email newsletter.