Avanos Medical (AVNS) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Avanos Medical (NYSE:AVNS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $71.00 target price on the stock.
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. “
Several other equities analysts have also recently weighed in on the company. Raymond James upgraded Avanos Medical from a market perform rating to an outperform rating in a report on Tuesday, August 21st. Morgan Stanley lifted their price objective on Avanos Medical from $58.00 to $60.00 and gave the company an underweight rating in a report on Wednesday, August 8th. Finally, KeyCorp lifted their price objective on Avanos Medical from $66.00 to $75.00 and gave the company an overweight rating in a report on Wednesday, August 8th.
Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.10. Avanos Medical had a return on equity of 7.61% and a net margin of 11.85%. The firm had revenue of $160.90 million for the quarter, compared to analysts’ expectations of $157.37 million. As a group, equities analysts predict that Avanos Medical will post 1.87 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund bought a new position in shares of Avanos Medical during the 2nd quarter valued at about $1,033,000. CENTRAL TRUST Co bought a new position in shares of Avanos Medical during the 3rd quarter valued at about $167,000. Fox Run Management L.L.C. bought a new position in shares of Avanos Medical during the 3rd quarter valued at about $704,000. Legacy Private Trust Co. bought a new position in shares of Avanos Medical during the 3rd quarter valued at about $1,838,000. Finally, McQueen Ball & Associates Inc. bought a new position in shares of Avanos Medical during the 3rd quarter valued at about $268,000. Institutional investors and hedge funds own 84.85% of the company’s stock.
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.
Featured Story: Do stock splits help investors?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Avanos Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avanos Medical and related companies with MarketBeat.com's FREE daily email newsletter.