Avanos Medical (NYSE:AVNS) Sets New 12-Month High – What’s Next?

Shares of Avanos Medical, Inc. (NYSE:AVNS) hit a new 52-week high during trading on Monday . The company traded as high as $24.87 and last traded at $24.8650, with a volume of 31182 shares traded. The stock had previously closed at $24.80.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen downgraded Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings upgraded Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded Avanos Medical from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Avanos Medical currently has an average rating of “Sell”.

Avanos Medical Stock Performance

The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $17.89 and a 200-day moving average price of $14.29. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -15.36 and a beta of 1.58.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The business had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $170.00 million. During the same period in the prior year, the firm posted $0.26 EPS. Avanos Medical’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that Avanos Medical, Inc. will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avanos Medical

A number of hedge funds have recently modified their holdings of AVNS. Federated Hermes Inc. increased its holdings in Avanos Medical by 2.8% during the 4th quarter. Federated Hermes Inc. now owns 25,774 shares of the company’s stock valued at $289,000 after purchasing an additional 691 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Avanos Medical by 15.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company’s stock valued at $89,000 after purchasing an additional 846 shares in the last quarter. Versant Capital Management Inc increased its holdings in Avanos Medical by 49.7% during the 3rd quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock valued at $31,000 after purchasing an additional 894 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Avanos Medical by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock valued at $386,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in Avanos Medical by 3.0% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 43,230 shares of the company’s stock valued at $500,000 after purchasing an additional 1,240 shares in the last quarter. 95.17% of the stock is owned by institutional investors and hedge funds.

About Avanos Medical

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.