Avanos Medical (NYSE:AVNS) Rating Reiterated by JMP Securities

Avanos Medical (NYSE:AVNS)‘s stock had its “market perform” rating reissued by equities research analysts at JMP Securities in a report released on Tuesday, Benzinga reports.

Separately, StockNews.com cut Avanos Medical from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.00.

Avanos Medical Price Performance

Shares of NYSE:AVNS opened at $19.56 on Tuesday. The business has a fifty day moving average price of $19.22 and a 200-day moving average price of $19.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 1.47. The company has a market capitalization of $897.80 million, a PE ratio of -14.71 and a beta of 0.97. Avanos Medical has a 1-year low of $17.24 and a 1-year high of $26.56.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The firm had revenue of $166.10 million for the quarter, compared to the consensus estimate of $162.90 million. Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 4.10%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts expect that Avanos Medical will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling at Avanos Medical

In other news, CFO Michael Greiner sold 8,000 shares of Avanos Medical stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the completion of the sale, the chief financial officer now directly owns 151,495 shares in the company, valued at $2,896,584.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.94% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kestrel Investment Management Corp bought a new position in Avanos Medical in the fourth quarter valued at about $3,265,000. Charles Schwab Investment Management Inc. grew its position in Avanos Medical by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,442 shares of the company’s stock valued at $11,534,000 after buying an additional 34,825 shares during the period. Foundry Partners LLC increased its holdings in Avanos Medical by 74.6% during the fourth quarter. Foundry Partners LLC now owns 371,029 shares of the company’s stock valued at $8,322,000 after buying an additional 158,473 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Avanos Medical by 20.3% during the third quarter. Public Employees Retirement System of Ohio now owns 126,208 shares of the company’s stock valued at $2,552,000 after buying an additional 21,255 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Avanos Medical by 391.1% during the 3rd quarter. SG Americas Securities LLC now owns 26,306 shares of the company’s stock worth $532,000 after acquiring an additional 20,949 shares during the last quarter. 95.17% of the stock is currently 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.