FY2024 EPS Forecast for Avanos Medical Decreased by Analyst

Avanos Medical, Inc. (NYSE:AVNS) – Zacks Research cut their FY2024 earnings per share estimates for shares of Avanos Medical in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $1.31 for the year, down from their previous forecast of $1.39. The consensus estimate for Avanos Medical’s current full-year earnings is $1.32 per share. Zacks Research also issued estimates for Avanos Medical’s Q4 2024 earnings at $0.39 EPS, Q2 2025 earnings at $0.40 EPS, Q1 2026 earnings at $0.43 EPS, Q2 2026 earnings at $0.43 EPS, Q3 2026 earnings at $0.53 EPS and FY2026 earnings at $2.01 EPS.

Separately, StockNews.com cut shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd.

Avanos Medical Stock Performance

Shares of NYSE:AVNS opened at $18.60 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $854.86 million, a price-to-earnings ratio of 54.71 and a beta of 0.92. The firm has a 50 day moving average of $21.73 and a 200 day moving average of $21.53. Avanos Medical has a 52 week low of $17.39 and a 52 week high of $25.36.

Institutional Investors Weigh In On Avanos Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Avanos Medical during the third quarter valued at $42,000. KBC Group NV lifted its holdings in shares of Avanos Medical by 63.0% in the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after buying an additional 1,095 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Avanos Medical in the second quarter worth about $70,000. EntryPoint Capital LLC boosted its stake in shares of Avanos Medical by 97.6% in the first quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock worth $112,000 after buying an additional 2,766 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Avanos Medical during the second quarter worth about $202,000. Institutional investors and hedge funds own 95.17% 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.