Avanos Medical (NYSE:AVNS) Upgraded by StockNews.com to “Strong-Buy”

Avanos Medical (NYSE:AVNS) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Avanos Medical Stock Up 0.7 %

Avanos Medical stock traded up $0.15 during mid-day trading on Tuesday, reaching $22.80. 180,556 shares of the company were exchanged, compared to its average volume of 239,375. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 2.28. The firm has a market cap of $1.05 billion, a P/E ratio of -17.14 and a beta of 0.91. The business has a fifty day moving average of $23.44 and a 200 day moving average of $21.27. Avanos Medical has a 12-month low of $17.24 and a 12-month high of $25.36.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. The business had revenue of $171.70 million during the quarter, compared to analyst estimates of $170.67 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts anticipate that Avanos Medical will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Avanos Medical

Several institutional investors and hedge funds have recently bought and sold shares of AVNS. Tidal Investments LLC acquired a new position in shares of Avanos Medical in the 1st quarter valued at about $439,000. BNP Paribas Financial Markets boosted its position in Avanos Medical by 314.4% in the 1st quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company’s stock worth $1,067,000 after purchasing an additional 40,653 shares in the last quarter. Tributary Capital Management LLC grew its stake in shares of Avanos Medical by 7.5% during the 1st quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock worth $14,782,000 after purchasing an additional 51,865 shares during the period. Boston Partners acquired a new stake in shares of Avanos Medical during the 1st quarter worth approximately $571,000. Finally, Quest Partners LLC acquired a new position in shares of Avanos Medical in the 2nd quarter valued at $444,000. 95.17% of the stock is currently owned by institutional investors and hedge funds.

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.