Avanos Medical Stock Price, News & Analysis

Avanos Medical, Inc. (NYSE: AVNS) announced that Michael Greiner, CFO and Chief Transformation Officer, will participate in a fireside chat at the 2023 virtual KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 22 at 9:45 a.m. ET. A webcast of the presentation will be available in the Investors section on Avanos' website and will be archived for later access. Avanos focuses on clinically superior medical devices, providing vital nutrition solutions and reducing opioid use during patient recovery. The company is headquartered in Alpharetta, Georgia, and holds leading market positions across its product categories.

Avanos Medical, Inc. (NYSE: AVNS) announced the appointment of Dr. Lisa Egbuonu-Davis as an independent member of its board of directors, effective March 6, 2023. Egbuonu-Davis, who previously held senior roles at Sanofi and co-founded ROI Squared, brings extensive experience in healthcare strategy and operations. Avanos board chair Gary Blackford expressed optimism about her contributions to the company’s mission of providing innovative healthcare solutions, particularly in reducing opioid use. With Egbuonu-Davis's addition, the board now has six directors, including five independents and two women.

Avanos Medical, Inc. (NYSE: AVNS) reported strong fourth quarter and full-year 2022 results, with net sales of $217 million for Q4, up 12% year-over-year, and full-year net sales reaching $820 million, a 10% increase. Diluted EPS for Q4 was $0.36, compared to $0.24 a year earlier, while adjusted diluted EPS rose to $0.60 from $0.50. The company reported a free cash flow of $29 million in Q4 and $72 million for the year. Avanos is implementing a three-year transformation plan, targeting cost savings of $45-$55 million, amid ongoing developments in its product portfolio and operational efficiencies.

Avanos Medical, Inc. (NYSE: AVNS) will host a conference call on February 21 at 9 a.m. ET to discuss its financial results and business highlights for the fourth quarter and full year 2022. A news release detailing the results will be issued before market opens that day. The call will feature CEO Joe Woody and CFO Michael Greiner. Participants can join via phone or through a live webcast available on the company's investor website. A replay will be available beginning February 21 at noon ET for one week.

Avanos Medical (NYSE: AVNS) has announced the appointment of Michael Greiner as Chief Transformation Officer, alongside his role as CFO, and Kerr Holbrook as Senior Vice President and Chief Commercial Officer. This leadership shift aims to enhance the company's strategic focus and optimize financial performance over the next three years. The transformation plan centers on four priorities: optimizing the commercial organization, transforming the product portfolio, implementing cost management initiatives, and disciplined capital deployment. The new structure aims to accelerate sales and improve market impact.

Avanos Medical (NYSE: AVNS) will be represented by CEO Joe Woody at the 41st Annual J.P. Morgan Healthcare Conference in San Francisco on January 11, 2023, at approximately 4:30 p.m., PST. A webcast of the presentation will be accessible on the Investors section of the Avanos Medical website, and it will be archived for future viewing. Avanos is dedicated to advancing healthcare needs by providing innovative medical device solutions aimed at enhancing patients' quality of life.

Avanos Medical has appointed Sudhakar Varshney as the new senior vice president of global supply chain & procurement, effective immediately. Varshney brings over 20 years of leadership experience in various sectors including medical devices and automotive, having previously served at Antylia Scientific and other notable companies. His role entails leading a team of over 2,500 employees to enhance the company’s supply chain operations amidst ongoing global challenges. CEO Joe Woody expressed confidence in Varshney's ability to drive essential process improvements for the company’s growth.

Avanos Medical, based in Alpharetta, Georgia, will present at the Stifel 2022 Healthcare Conference on November 15 at 3:35 p.m. ET. CEO Joe Woody and CFO Michael Greiner will lead the presentation. The conference will be accessible via a webcast on the Avanos Medical website's investors section, with an archive for later viewing. Avanos Medical focuses on developing innovative medical devices aimed at improving patient quality of life and reducing opioid use. The company operates in over 90 countries.

Avanos Medical reported third quarter 2022 financial results with net sales of $202 million, marking a 10% increase year-over-year. Gross margin improved to 54%, up from 49% in the prior year. The company achieved a net income of $16 million compared to a $35 million loss last year, and adjusted earnings per share rose to $0.38. Free cash flow reached $23 million. The company reaffirms its 2022 guidance, projecting net sales between $815 million and $835 million despite ongoing supply chain challenges.