Analysts Set Avanos Medical, Inc. (NYSE:AVNS) Price Target at $38.75

Shares of Avanos Medical, Inc. (NYSE:AVNS – Get Rating) have earned a consensus rating of “Hold” from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $38.75.

A number of analysts have commented on the stock. KeyCorp cut their price target on shares of Avanos Medical from $47.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, February 24th. StockNews.com downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Saturday, April 16th. Finally, Zacks Investment Research downgraded shares of Avanos Medical from a “strong-buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research report on Tuesday, April 26th.

NYSE:AVNS opened at $27.71 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of 72.92 and a beta of 0.87. Avanos Medical has a 12 month low of $24.84 and a 12 month high of $40.81. The company has a quick ratio of 1.84, a current ratio of 2.87 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $30.80 and its two-hundred day moving average price is $31.67.

Avanos Medical (NYSE:AVNS – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Avanos Medical had a net margin of 2.44% and a return on equity of 4.49%. The business had revenue of $197.40 million during the quarter, compared to the consensus estimate of $197.80 million. During the same period in the previous year, the firm posted $0.23 earnings per share. Avanos Medical’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, research analysts expect that Avanos Medical will post 1.66 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Eaton Vance Management raised its position in shares of Avanos Medical by 66.9% in the 4th quarter. Eaton Vance Management now owns 3,517 shares of the company’s stock worth $29,000 after purchasing an additional 1,410 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Avanos Medical during the 1st quarter valued at about $30,000. First Quadrant L P CA purchased a new stake in shares of Avanos Medical during the 4th quarter valued at about $41,000. First Horizon Advisors Inc. increased its position in shares of Avanos Medical by 5,095.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,195 shares of the company’s stock valued at $41,000 after purchasing an additional 1,172 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Avanos Medical during the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

About Avanos Medical (Get Rating)

Avanos Medical, Inc, a medical technology company, focuses on delivering 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; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.

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