Avanos Medical (NYSE:AVNS) issued its quarterly earnings results on Tuesday. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02, Briefing.com reports. Avanos Medical had a negative net margin of 6.20% and a positive return on equity of 3.92%. The firm had revenue of $189.80 million during the quarter, compared to the consensus estimate of $178.58 million. During the same period in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Avanos Medical updated its FY 2020
Pre-Market guidance to 1.00-1.20 EPS and its FY20 guidance to $1.00-1.20 EPS.
Shares of NYSE:AVNS traded up $3.81 during midday trading on Tuesday, reaching $34.41. 1,160,600 shares of the company’s stock were exchanged, compared to its average volume of 371,349. The company’s 50 day simple moving average is $30.73 and its two-hundred day simple moving average is $34.66. The firm has a market capitalization of $1.47 billion, a PE ratio of -38.66 and a beta of 1.52. Avanos Medical has a 12 month low of $27.32 and a 12 month high of $53.45. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.84 and a current ratio of 2.51.
A number of brokerages have weighed in on AVNS. Zacks Investment Research raised shares of Avanos Medical from a “sell” rating to a “hold” rating and set a $46.00 price target for the company in a report on Wednesday, October 30th. ValuEngine downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley reduced their price target on shares of Avanos Medical from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Tuesday, December 17th. Barclays reissued a “sell” rating and issued a $30.00 price target on shares of Avanos Medical in a report on Tuesday, January 28th. Finally, TheStreet downgraded shares of Avanos Medical from a “c-” rating to a “d+” rating in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Avanos Medical has an average rating of “Hold” and an average target price of $42.67.
Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.
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