Avanos Medical (NYSE:AVNS) Updates FY24 Earnings Guidance

Avanos Medical (NYSE:AVNS) updated its FY24 earnings guidance on Thursday. 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 Stock Performance

Shares of NYSE AVNS traded down $0.03 during mid-day trading on Friday, reaching $19.68. The company’s stock had a trading volume of 246,254 shares, compared to its average volume of 211,695. The stock has a fifty day moving average of $19.19 and a two-hundred day moving average 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 debt-to-equity ratio of 0.14, a quick ratio of 1.38 and a current ratio of 2.28.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Avanos Medical 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 sale, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at approximately $2,896,584.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by insiders.

Avanos Medical Company Profile

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.