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

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

Avanos Medical Stock Performance

NYSE:AVNS opened at $22.63 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 company has a fifty day moving average of $23.42 and a two-hundred day moving average of $21.49. The stock has a market capitalization of $1.04 billion, a PE ratio of -17.02 and a beta of 0.91. Avanos Medical has a fifty-two week low of $17.39 and a fifty-two week high of $25.36.

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

Institutional Investors Weigh In On Avanos Medical

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its position in shares of Avanos Medical by 194.3% in the third quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company’s stock valued at $863,000 after buying an additional 23,714 shares during the last quarter. New York State Teachers Retirement System grew its holdings 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 purchased a new stake in shares of Avanos Medical in the third quarter valued at about $473,000. Algert Global LLC grew its holdings in shares of Avanos Medical by 7.5% in the second quarter. Algert Global LLC now owns 66,476 shares of the company’s stock valued at $1,324,000 after purchasing an additional 4,646 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Avanos Medical by 51.2% in the second quarter. Mackenzie Financial Corp now owns 25,922 shares of the company’s stock valued at $516,000 after purchasing an additional 8,775 shares during the period. 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.