Avanos Medical (AVNS) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Avanos Medical (NYSE:AVNS) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $71.00 price objective on the stock.

According to Zacks, “Avanos Medical Inc. operates as a medical technology company. It offers infection prevention, surgical, respiratory, digestive health and pain management solutions. Avanos Medical Inc., formerly known as Halyard Health Inc., is headquartered in Alpharetta, Georgia. “

Other research analysts have also issued research reports about the company. Raymond James raised Avanos Medical from a market perform rating to an outperform rating in a research report on Tuesday, August 21st. KeyCorp boosted their price target on Avanos Medical from $66.00 to $75.00 and gave the stock an overweight rating in a research report on Wednesday, August 8th. Finally, Morgan Stanley boosted their price target on Avanos Medical from $58.00 to $60.00 and gave the stock an underweight rating in a research report on Wednesday, August 8th.

Shares of Avanos Medical stock opened at $59.44 on Tuesday. Avanos Medical has a 52-week low of $41.51 and a 52-week high of $72.96. The company has a market capitalization of $3.24 billion, a P/E ratio of 25.29 and a beta of 1.77. The company has a current ratio of 2.48, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19.

Avanos Medical (NYSE:AVNS) last announced its earnings results on Tuesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. Avanos Medical had a return on equity of 7.61% and a net margin of 11.85%. The business had revenue of $160.90 million for the quarter, compared to analyst estimates of $157.37 million. Research analysts forecast that Avanos Medical will post 1.87 earnings per share for the current year.

Several large investors have recently bought and sold shares of AVNS. Legacy Private Trust Co. acquired a new position in shares of Avanos Medical during the 3rd quarter worth approximately $1,838,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Avanos Medical during the 2nd quarter worth approximately $1,033,000. Fox Run Management L.L.C. acquired a new position in shares of Avanos Medical during the 3rd quarter worth approximately $704,000. McQueen Ball & Associates Inc. acquired a new position in shares of Avanos Medical during the 3rd quarter worth approximately $268,000. Finally, Bank of Montreal Can acquired a new position in shares of Avanos Medical during the 3rd quarter worth approximately $197,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Company Profile

Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.

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