Avanos price target lowered to $17 from $20 at Stifel

Stifel lowered the firm’s price target on Avanos (AVNS) to $17 from $20 and keeps a Hold rating on the shares. The firm says Avanos Q4 performance optics had various puts and takes. On the surface, sales at $179.6M slightly exceeded Stifel’s/consensus estimate and EPS at 43c came a few pennies above its/consensus 41c/40c helped by lower-than-anticipated interest/tax. Digging deeper into Avanos Q4 performance, there were several encouraging factors supporting the company’s fundamental outlook. But offsetting these encouraging factors, the hyaluronic acid injection business continues to be a sore spot, with ongoing pricing pressures highlighted as one of the key factors underpinning the company’s below-consensus initial 2025 guidance, Stifel adds.