Avanos Medical (NYSE:AVNS) Releases FY24 Earnings Guidance

Avanos Medical (NYSE:AVNS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.30-1.45 for the period, compared to the consensus estimate of $1.38. The company issued revenue guidance of $685-705 million, compared to the consensus revenue estimate of $691.07 million.

Avanos Medical Trading Up 4.0 %

NYSE AVNS opened at $18.80 on Thursday. The stock has a 50-day simple moving average of $19.19 and a 200 day simple moving average of $19.89. The company has a current ratio of 2.08, a quick ratio of 1.38 and a debt-to-equity ratio of 0.13. Avanos Medical has a 12 month low of $17.24 and a 12 month high of $29.73.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $173.30 million during the quarter, compared to the consensus estimate of $170.43 million. Avanos Medical had a negative net margin of 8.76% and a positive return on equity of 4.25%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. On average, analysts expect that Avanos Medical will post 1.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Avanos Medical from a hold rating to a buy rating in a report on Tuesday, March 19th.

Insider Buying and Selling at Avanos Medical

In other news, CFO Michael Greiner sold 8,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $19.12, for a total transaction of $152,960.00. Following the completion of the transaction, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at $2,896,584.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

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.