Zacks Investment Research lowered shares of Avanos Medical (NYSE:AVNS) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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. “

A number of other research firms also recently weighed in on AVNS. Morgan Stanley upped their price target on shares of Avanos Medical from $58.00 to $60.00 and gave the stock an underweight rating in a research note on Wednesday, August 8th. Raymond James raised shares of Avanos Medical from a market perform rating to an outperform rating in a research note on Tuesday, August 21st. KeyCorp upped their price target on shares of Avanos Medical from $66.00 to $75.00 and gave the stock an overweight rating in a research note on Wednesday, August 8th. Finally, Barclays started coverage on shares of Avanos Medical in a research note on Monday, October 15th. They issued an equal weight rating and a $69.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $69.25.

Shares of AVNS traded up $0.09 during mid-day trading on Wednesday, reaching $50.70. The company’s stock had a trading volume of 357,529 shares, compared to its average volume of 376,287. The firm has a market capitalization of $2.36 billion, a P/E ratio of 21.57 and a beta of 1.86. Avanos Medical has a 1 year low of $43.78 and a 1 year high of $72.96. The company has a quick ratio of 2.18, a current ratio of 2.78 and a debt-to-equity ratio of 0.19.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, November 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.09. Avanos Medical had a return on equity of 6.59% and a net margin of 14.26%. The company had revenue of $165.10 million during the quarter, compared to analyst estimates of $166.57 million. The company’s revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that Avanos Medical will post 1.83 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Synovus Financial Corp acquired a new position in shares of Avanos Medical in the third quarter worth $2,186,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Avanos Medical in the second quarter worth $1,033,000. Gateway Investment Advisers LLC acquired a new position in shares of Avanos Medical in the third quarter worth $926,000. Fox Run Management L.L.C. acquired a new position in Avanos Medical during the third quarter worth $704,000. Finally, North Star Asset Management Inc. acquired a new position in Avanos Medical during the third quarter worth $1,937,000. 84.10% of the stock is currently owned by institutional investors and hedge funds.

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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