Avanos Medical (NYSE:AVNS) Rating Increased to Strong-Buy at StockNews.com

Avanos Medical (NYSE:AVNS) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Avanos Medical Stock Up 0.5 %

Shares of AVNS stock opened at $22.92 on Tuesday. The stock’s fifty day moving average price is $23.44 and its 200 day moving average price is $21.30. Avanos Medical has a 1-year low of $17.24 and a 1-year high of $25.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.28 and a quick ratio of 1.49. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -17.23 and a beta of 0.91.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $171.70 million during the quarter, compared to analysts’ expectations of $170.67 million. Avanos Medical had a return on equity of 4.48% and a net margin of 1.13%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. On average, research analysts expect that Avanos Medical will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avanos Medical

Large investors have recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in shares of Avanos Medical in the first quarter valued at approximately $439,000. BNP Paribas Financial Markets boosted its holdings in Avanos Medical by 314.4% during the 1st quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company’s stock valued at $1,067,000 after acquiring an additional 40,653 shares during the period. Tributary Capital Management LLC boosted its holdings in Avanos Medical by 7.5% during the 1st quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock valued at $14,782,000 after acquiring an additional 51,865 shares during the period. Boston Partners purchased a new position in Avanos Medical during the 1st quarter valued at about $571,000. Finally, Quest Partners LLC purchased a new position in shares of Avanos Medical in the 2nd quarter valued at about $444,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

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.