Avanos Medical (NYSE:AVNS) Rating Lowered to “Strong Sell” at Zacks Research

Avanos Medical (NYSE:AVNS) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Weiss Ratings raised Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 22nd. Wall Street Zen lowered Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Avanos Medical Trading Up 0.1%

Shares of NYSE:AVNS opened at $24.80 on Thursday. The company has a 50 day moving average of $17.26 and a 200-day moving average of $14.02. The company has a current ratio of 2.48, a quick ratio of 1.26 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.16 billion, a P/E ratio of -15.40 and a beta of 1.58. Avanos Medical has a twelve month low of $9.30 and a twelve month high of $24.81.

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

Hedge Funds Weigh In On Avanos Medical

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of Avanos Medical by 46.4% during the first quarter. AQR Capital Management LLC now owns 192,864 shares of the company’s stock worth $2,700,000 after purchasing an additional 61,095 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Avanos Medical by 4.3% in 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 during the period. Millennium Management LLC increased its stake in Avanos Medical by 508.3% in the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock worth $7,849,000 after purchasing an additional 457,703 shares in the last quarter. Empowered Funds LLC increased its stake in Avanos Medical by 5.4% in the 1st quarter. Empowered Funds LLC now owns 162,182 shares of the company’s stock worth $2,324,000 after purchasing an additional 8,348 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Avanos Medical by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,810 shares of the company’s stock worth $2,018,000 after buying an additional 20,541 shares during the period. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Company Profile

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.