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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Avanos Medical from a buy rating to a hold rating in a research note on Friday.

Avanos Medical Stock Down 0.2 %

Avanos Medical stock traded down $0.03 during trading on Friday, reaching $19.68. The stock had a trading volume of 246,254 shares, compared to its average volume of 211,695. The business has a 50 day moving average price of $19.19 and a 200 day moving average price of $19.91. Avanos Medical has a 52-week low of $17.24 and a 52-week high of $26.56. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $173.30 million during the quarter, compared to analyst estimates of $170.43 million. Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 3.98%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. On average, research analysts predict that Avanos Medical will post 1.38 EPS for the current year.

Insider Activity

In related news, CFO Michael Greiner sold 8,000 shares of the 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 transaction, the chief financial officer now directly owns 151,495 shares in the company, valued at $2,896,584.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.