Zacks Research Reduces Earnings Estimates for Avanos Medical

Avanos Medical, Inc. (NYSE:AVNS) – Research analysts at Zacks Research reduced their FY2024 EPS estimates for shares of Avanos Medical in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $1.31 per share for the year, down from their previous estimate of $1.39. The consensus estimate for Avanos Medical’s current full-year earnings is $1.32 per share. Zacks Research also issued estimates for Avanos Medical’s Q4 2024 earnings at $0.39 EPS, Q2 2025 earnings at $0.40 EPS, Q1 2026 earnings at $0.43 EPS, Q2 2026 earnings at $0.43 EPS, Q3 2026 earnings at $0.53 EPS and FY2026 earnings at $2.01 EPS.

Separately, StockNews.com cut Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd.

Avanos Medical Stock Up 3.2 %

Shares of NYSE AVNS opened at $18.60 on Friday. The firm has a market cap of $854.86 million, a price-to-earnings ratio of 54.71 and a beta of 0.92. The company’s 50-day simple moving average is $21.73 and its 200-day simple moving average is $21.53. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. Avanos Medical has a 52-week low of $17.39 and a 52-week high of $25.36.

Institutional Investors Weigh In On Avanos Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVNS. Quarry LP purchased a new position in Avanos Medical in the 3rd quarter worth approximately $42,000. KBC Group NV increased its holdings in shares of Avanos Medical by 63.0% in the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after purchasing an additional 1,095 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Avanos Medical during the second quarter worth approximately $70,000. EntryPoint Capital LLC boosted its stake in Avanos Medical by 97.6% during the first quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock worth $112,000 after buying an additional 2,766 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Avanos Medical in the 3rd quarter valued at $207,000. Institutional investors and hedge funds own 95.17% of the company’s stock.

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.