Avanos Medical (NYSE:AVNS) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Avanos Medical (NYSE:AVNS) from a buy rating to a strong-buy rating in a research report released on Saturday.

Avanos Medical Price Performance

NYSE AVNS opened at $22.61 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 2.28. The business has a 50 day simple moving average of $23.44 and a 200 day simple moving average of $21.47. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 133.00 and a beta of 0.91. Avanos Medical has a 52-week low of $17.39 and a 52-week high of $25.36.

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

Institutional Investors Weigh In On Avanos Medical

Hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System raised its position in shares of Avanos Medical by 2.0% in the third quarter. New York State Teachers Retirement System now owns 72,294 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,388 shares during the period. SG Americas Securities LLC bought a new position in Avanos Medical in the 3rd quarter valued at about $473,000. Algert Global LLC lifted its position in Avanos Medical by 7.5% during the second quarter. Algert Global LLC now owns 66,476 shares of the company’s stock worth $1,324,000 after acquiring an additional 4,646 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Avanos Medical by 51.2% during the second quarter. Mackenzie Financial Corp now owns 25,922 shares of the company’s stock worth $516,000 after acquiring an additional 8,775 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Avanos Medical by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 17,137 shares of the company’s stock valued at $341,000 after purchasing an additional 590 shares during the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

About Avanos Medical

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.