Avanos Medical (NYSE:AVNS) Updates FY24 Earnings Guidance

Avanos Medical (NYSE:AVNS) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.30-1.45 for the period, compared to the consensus estimate of $1.38. The company issued revenue guidance of $685-705 million, compared to the consensus revenue estimate of $691.07 million.

Avanos Medical Trading Down 0.2 %

Shares of Avanos Medical stock traded down $0.03 during trading on Friday, reaching $19.68. The company’s stock had a trading volume of 246,254 shares, compared to its average volume of 211,695. The business has a 50 day moving average price of $19.19 and a 200-day moving average price of $19.91. Avanos Medical has a 12-month low of $17.24 and a 12-month high of $26.56. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, February 20th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $173.30 million for the quarter, compared to analysts’ expectations of $170.43 million. Avanos Medical had a positive return on equity of 3.98% and a negative net margin of 9.15%. Avanos Medical’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities analysts predict that Avanos Medical will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Avanos Medical from a buy rating to a hold rating in a report on Friday.

Insider Activity

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the sale, the chief financial officer now owns 151,495 shares of the company’s stock, valued at $2,896,584.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

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.