Analysts Set Avanos Medical Inc (AVNS) Target Price at $63.50

Shares of Avanos Medical Inc (NYSE:AVNS) have been given an average recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $63.50.

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 in a research note on Thursday, January 17th. KeyCorp decreased their target price on shares of Avanos Medical from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, February 27th. Barclays downgraded shares of Avanos Medical from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 4th. Finally, ValuEngine downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

Several large investors have recently bought and sold shares of the company. Retirement Systems of Alabama boosted its holdings in Avanos Medical by 0.5% in the first quarter. Retirement Systems of Alabama now owns 61,772 shares of the company’s stock worth $2,636,000 after purchasing an additional 280 shares during the last quarter. American International Group Inc. boosted its holdings in Avanos Medical by 0.3% in the fourth quarter. American International Group Inc. now owns 126,680 shares of the company’s stock worth $5,674,000 after purchasing an additional 317 shares during the last quarter. Arizona State Retirement System boosted its holdings in Avanos Medical by 1.4% in the fourth quarter. Arizona State Retirement System now owns 34,041 shares of the company’s stock worth $1,525,000 after purchasing an additional 468 shares during the last quarter. Comerica Bank boosted its holdings in Avanos Medical by 1.8% in the fourth quarter. Comerica Bank now owns 30,847 shares of the company’s stock worth $1,373,000 after purchasing an additional 554 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Avanos Medical by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,011 shares of the company’s stock worth $538,000 after purchasing an additional 665 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

AVNS stock traded up $0.87 during trading on Monday, reaching $45.01. The company had a trading volume of 272,800 shares, compared to its average volume of 341,731. Avanos Medical has a 52 week low of $38.00 and a 52 week high of $72.96. The company has a market cap of $2.09 billion, a P/E ratio of 54.89 and a beta of 1.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.70 and a quick ratio of 2.24.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Tuesday, February 26th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.09. Avanos Medical had a net margin of 8.81% and a return on equity of 7.20%. The company had revenue of $169.90 million during the quarter, compared to the consensus estimate of $166.88 million. During the same period in the prior year, the firm earned $0.73 earnings per share. Avanos Medical’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Avanos Medical will post 1.25 earnings per share for the current fiscal year.

Avanos Medical Company Profile

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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