KeyBanc maintained its Avanos Medical [AVNS] rating to the equivalent of Overweight but changed the price target to $55 from $47, in a research note dated 2021-01-08. That figure represents around a 13.05% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Stifel’s analysts downgrading the shares from “a Buy” rating to “a Hold” rating in a research note to investors issued in early November. Meanwhile, Raymond James had lowered its rating on AVNS to “Mkt perform” from the earlier “an Outperform”, in a research note produced for clients November 06, 2019. In addition, Barclays launched coverage on October 16, 2018. The research firm rated AVNS “an Equal weight”.
Is Avanos Medical Inc. [NYSE:AVNS] a Good Buy Right Now?
It should be noted that AVNS technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Avanos Medical Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.29 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.28 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.26 million shares.
AVNS Price Performance
On Wall Street, Avanos Medical Inc. [NYSE:AVNS] finished Thursday’s session up 0.87% at $48.58. The stock went up to $48.79 at the same session while its lowest single day price was $47.73. In the last five days, it saw a rise of about 5.54%, Avanos Medical Inc. shares gained by almost 5.88% since the beginning of the year. However, the share price has dropped to as low as -2.84% below its one year high. On 01/06/21, the company shares recorded $48.85, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $44.58. The company’s shares have inclined by 42.21% in the past year. The 50-day SMA achieved is $43.69 while the 200-day SMA is $34.24. Volume dropped to 0.16 million from 0.45 million in the previous session.
Avanos Medical Inc. [AVNS] Valuation Measures
Notably, Avanos Medical Inc. [AVNS] stock cannot be classified as a good candidate in the listing of underestimated low-priced Medical Devices companies to purchase soonest possible with the prevailing 12-month PE ratio of 169.27. The measure means the stock is exchanging at a premium as compared to the 33.86x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.24 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 5.23 which means AVNS serve an unattractive investment opportunity compared to its competitors.
AVNS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 47.94 level, and in case of violation of this particular level, it will cause more drop to 47.31 level. On the upper level, 49.43 is still the key resistance. The stock may increase to the subsequent resistance at 49.00. The Relative Strength Index (RSI) pinned on the 14-day chart is 64.84, implying a neutral technical stance while the MACD stands at 0.85, meaning price will decrease in the next trading period. Percent R indicator moved to 26.20%, implying bullish price movement. Stochastic %K at 57.32% suggest selling the stock.
What is the short interest in Avanos Medical Inc.?
Short interest in the Avanos Medical Inc. stock has plunged, decreasing by -0.22 million shares to total 2.04 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.82 million, data from Yahoo Finance shows. The increase of 10.78% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.88% of the overall float for the stock.
Avanos Medical Inc.’s Biggest Shareholders: Who Owns Avanos Medical Inc. [AVNS]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 4,642,115 shares or roughly 9.71% of the outstanding AVNS shares. This means their shares have reduced by -189,486 from the 4,642,115 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $175,667,000. Details in the latest 13F filings reveal that Wellington Management Co. LLP acquired their 21.08% stake valued at $169,002,232 while T. Rowe Price Associates, Inc. cut theirs at $150,650,966. During the last quarter, Wellington Management Co. LLP raised 694,085 of its shares in Avanos Medical Inc. while T. Rowe Price Associates, Inc. sold -498,164 shares. The Champlain Investment Partners LLC’s holdings currently number 3,380,740 shares at $164236349.2. According to the firm’s last 13F report, Paradice Investment Management LL shares in the company at filing stood at 2,517,472 shares, roughly $106,715,638.
AVNS Earnings Forecast For The Current Quarter
Avanos Medical Inc. [AVNS] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $183.1M and an earnings per share of $0.22 for Dec 2020. Looking further ahead, the company is expected to report revenue of $172.5M at an EPS of $0.19 for Mar 2021. The estimates represent downside of 3.60% and 56.41% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
AVNS Earnings Estimates For The Current Year
For the financial year, Avanos Medical Inc. [NYSE:AVNS] is expected to bring in revenue of $715.13M. The returns are nearly $17.53 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.72, lower than that of FY19 by -$0.35. Estimates put this year’s earnings growth at -32.70%, 55.60% for the next, and at an annual 6.30% over the next 5-year period. As for sales, forecasts are for an increase of 2.50% in the current fiscal year and a further 3.60% over the following year.