Avanos Medical (NYSE:AVNS) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Avanos Medical (NYSE:AVNS) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

Avanos Medical Stock Up 0.0 %

NYSE:AVNS opened at $22.63 on Friday. The company has a market cap of $1.04 billion, a PE ratio of -17.02 and a beta of 0.91. Avanos Medical has a twelve month low of $17.39 and a twelve month high of $25.36. The company has a current ratio of 2.28, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $23.42 and its two-hundred day moving average is $21.49.

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

Institutional Trading of Avanos Medical

Large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new position in shares of Avanos Medical in the 2nd quarter valued at $70,000. EntryPoint Capital LLC lifted its stake in shares of Avanos Medical by 97.6% in the 1st quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock valued at $112,000 after purchasing an additional 2,766 shares during the period. XTX Topco Ltd acquired a new position in shares of Avanos Medical in the 2nd quarter valued at $202,000. Magnetar Financial LLC acquired a new position in shares of Avanos Medical in the 2nd quarter valued at $248,000. Finally, Janney Montgomery Scott LLC raised its position in Avanos Medical by 19.1% during the first quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock worth $259,000 after acquiring an additional 2,082 shares during the period. 95.17% of the stock is owned by hedge funds and other institutional investors.

About Avanos Medical

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.