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

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

Avanos Medical Stock Performance

NYSE AVNS traded up $0.12 during trading hours on Friday, reaching $22.34. 124,277 shares of the company were exchanged, compared to its average volume of 184,736. The stock has a market capitalization of $1.03 billion, a P/E ratio of 131.41 and a beta of 0.91. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.13. Avanos Medical has a 1 year low of $17.24 and a 1 year high of $25.36. The business's 50 day simple moving average is $23.44 and its 200-day simple moving average is $21.45.

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

Hedge Funds Weigh In On Avanos Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC boosted its holdings in shares of Avanos Medical by 16.8% in the first quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company's stock worth $28,372,000 after acquiring an additional 204,826 shares during the period. Paradice Investment Management LLC lifted its holdings in shares of Avanos Medical by 5.4% in the second quarter. Paradice Investment Management LLC now owns 1,344,949 shares of the company's stock worth $26,791,000 after buying an additional 69,389 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Avanos Medical in the second quarter valued at approximately $1,077,000. Tributary Capital Management LLC grew its stake in Avanos Medical by 7.5% during the first 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 in the last quarter. Finally, BNP Paribas Financial Markets increased 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 worth $1,067,000 after acquiring an additional 40,653 shares during the period. Institutional investors 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.