FY2018 EPS Estimates for Avanos Medical Inc (AVNS) Cut by KeyCorp

Avanos Medical Inc (NYSE:AVNS) – Investment analysts at KeyCorp lowered their FY2018 EPS estimates for Avanos Medical in a research note issued on Tuesday, November 6th. KeyCorp analyst M. Mishan now expects that the company will post earnings of $1.83 per share for the year, down from their previous forecast of $1.85. KeyCorp currently has a “Overweight” rating and a $75.00 target price on the stock. KeyCorp also issued estimates for Avanos Medical’s Q4 2018 earnings at $0.22 EPS and FY2019 earnings at $1.51 EPS.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, November 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $165.10 million during the quarter, compared to analysts’ expectations of $166.57 million. Avanos Medical had a net margin of 14.26% and a return on equity of 6.59%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year.

Several other research analysts have also recently issued reports on AVNS. Morgan Stanley lifted their target price on shares of Avanos Medical from $58.00 to $60.00 and gave the stock an “underweight” rating in a report on Wednesday, August 8th. Zacks Investment Research raised shares of Avanos Medical from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Thursday, August 9th. Raymond James raised shares of Avanos Medical from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. Finally, Barclays started coverage on shares of Avanos Medical in a report on Monday, October 15th. They issued an “equal weight” rating and a $69.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $69.25.

Shares of Avanos Medical stock opened at $50.61 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.18. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 21.52 and a beta of 1.86. Avanos Medical has a 52-week low of $43.78 and a 52-week high of $72.96.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EAM Investors LLC purchased a new position in shares of Avanos Medical during the third quarter valued at approximately $3,292,000. Crossmark Global Holdings Inc. purchased a new position in shares of Avanos Medical during the third quarter valued at approximately $304,000. Alliancebernstein L.P. purchased a new position in shares of Avanos Medical during the third quarter valued at approximately $6,843,000. Keybank National Association OH purchased a new position in shares of Avanos Medical during the third quarter valued at approximately $1,285,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Avanos Medical during the third quarter valued at approximately $658,000. 84.10% of the stock is owned by hedge funds and other institutional investors.

About Avanos Medical

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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