Avanos Medical

Avanos Medical (NYSE:AVNS) + this week posted first-quarter results that aligned with the earnings consensus on Wall Street but missed revenue estimates.

Investors reacted by sending shares in AVNS down 15.81% to $24.38 apiece in afternoon trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up slightly.

The Alpharetta, Georgia-based digestive health device maker reported profit losses of $500,000 or, 1¢ per share, on sales of $191.7 million for the three months ended March 31, for a bottom line loss of 2.89% and profit loss of 109.3% compared to Q1 2022.

Adjusted to exclude one-time items, earnings per share were 27¢, in line with the Wall Street consensus, where analysts were looking for sales of $195.2 million.

“Our first quarter results were mixed, with our digestive health portfolio continuing to outperform, strong adjusted earnin…

Avanos Medical (NYSE:AVNS) shares rose this morning on third-quarter results that beat the consensus forecast.

Shares of AVNS ticked up 3.5% at $23.20 apiece. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — ticked up by 1%.

The Alpharetta, Georgia-based pain management and chronic care company posted profits of $15.7 million. That equals 33¢ per share on sales of $202.1 million for the three months ended Sept. 30, 2022.

Avanos posted a massive bottom-line gain out of the red on sales growth of 9.8%. The company attributed its performance to incremental revenue from the acquisition of OrthogenRx.

Additionally, Avanos reported higher volume in digestive health. Still, unfavorable foreign currency translation effects and high supply chain costs affected the company.

Adjusted to exclude one-time items, earnings per share totaled 38¢. That comes in 3¢ ahead of Wall Street. Sale…

Avanos Medical (NYSE:AVNS) today posted second-quarter results that beat the earnings consensus on Wall Street and missed revenue estimates.

The Alpharetta, Georgia-based company reported profits of $11.4 million, or 24¢ per share, on sales of $203 million for the three months ended June 30, for a bottom-line loss of 69.9% on sales growth of 8.91% compared to Q2 2021.

Adjusted to exclude one-time items, earnings per share were 41¢, 3¢ ahead of The Street, where analysts were looking for sales of $208.27 million.

“Despite ongoing raw material availability and associated supply chain disruptions, underlying demand for our products remains strong,” CEO Joe Woody said in a news release. “We delivered on expansion of our gross and operating margin, and generated meaningful free cash flow in a tough environment inclusive of inflationary and foreign currency headwinds. We anticipate strong results for the full year despite continued macroecono…

The FDA determined that Avanos Medical’s recall of some of its Cortrak 2 enteral access systems is Class I, the most serious kind.

Alpharetta, Georgia-based Avanos Medical is recalling certain Cortrak 2 general access systems due to reports of injuries and patient deaths following nasoenteric or nasogastric tube misplacement. The recall includes all serial numbers of the Cortrak 2 system used between January 2021 and January 2022. There have been 629 devices recalled, according to an FDA warning letter.

Get the full story on our sister site, Medical Tubing + Extrusion.