Avanos Medical, Inc. - AVNS STOCK NEWS

Avanos Medical reported a strong performance for Q4 and full-year 2021 despite COVID-19 challenges. Q4 net sales rose 5% to $193 million, with full-year sales increasing 4% to $745 million. The company achieved a diluted EPS of $0.21 in Q4, compared to a loss last year, and adjusted EPS rose to $0.46. Free cash flow improved significantly, totaling $66 million for 2021. The acquisition of OrthogenRx was completed, enhancing its market presence. For 2022, Avanos expects net sales between $830 million and $850 million, amid ongoing supply chain challenges.

Avanos Medical, Inc. (NYSE: AVNS) will hold a conference call on Feb. 23, 2022, at 9 a.m. ET, to discuss its fourth quarter and full year 2021 financial results. A news release with these results will be issued before the market opens on that day. The call will be led by CEO Joe Woody and CFO Michael Greiner. Participants can access the call by dialing 877-240-5772 in the U.S., with a webcast available through the company’s investor website. A replay will be accessible later that day and for one week following the call.

Avanos Medical (NYSE: AVNS) announced that CEO Joe Woody will present at the 40th Annual J.P. Morgan Healthcare Conference on Jan. 11, 2022, at 10:30 a.m. ET. The presentation will be available via webcast on the Investors section of Avanos' website and will be archived there for later access. Avanos Medical, based in Alpharetta, Georgia, focuses on developing breakthrough medical devices aimed at improving patient outcomes and reducing opioid use during recovery from surgery. For more details, visit www.avanos.com.

Avanos Medical has announced a share repurchase program, allowing the company to buy back up to $30 million of its common stock over a twelve-month period. This initiative, approved by the Board of Directors, aims to enhance shareholder value using existing cash or future cash flows. The buyback will be executed under a Rule 10b5-1 plan that sets specific price, volume, and timing restrictions. CEO Joe Woody expressed confidence in the company's strategy and financial health, emphasizing the prudent investment in the company's stock.

Avanos Medical (NYSE: AVNS) has announced an agreement to acquire OrthogenRx, an innovator in viscosupplementation therapies for knee osteoarthritis (OA) treatment, for $160 million. This includes $130 million in cash and up to $30 million contingent on performance milestones. The acquisition is projected to contribute approximately $65 million in revenue in 2022, enhancing Avanos' chronic pain portfolio and expanding its market presence in a $1 billion U.S. OA treatment sector. The acquisition is expected to close in Q1 2022, pending regulatory approvals.

Avanos Medical, Inc. (NYSE: AVNS) has launched the PainBlock Pro app, designed for real-time patient recovery tracking post-surgery. The app collects patient-reported outcomes (PROs) via daily surveys for up to 10 days, helping providers tailor pain management plans based on pain levels and opioid use. It also offers patients easy access to FAQs and educational resources. Bill Haydon, Senior VP at Avanos, emphasized the app's role in enhancing patient-provider interaction and recovery insights.

Avanos Medical reported Q3 2021 financial results with net sales of $184 million, a decrease of less than 1% from the previous year. The company faced a net loss of $35 million, contrasting with a net income of $19 million from last year. Operating cash flow was $23 million, bolstered by $47 million in tax refunds. Despite challenges in acute pain due to elective procedure delays, operational metrics improved, including adjusted net income of $12 million. The gross margin stood at 49%, down from 52% last year, attributed to rising freight costs.

Avanos Medical, Inc. (NYSE: AVNS) is set to webcast its earnings call on Nov. 2, 2021, at 9 a.m. ET, discussing its third-quarter 2021 financial results. A news release will precede this call, detailing the company's performance before the market opens. The call features CEO Joe Woody and CFO Michael Greiner. Investors can access the live call via phone or a simultaneous webcast on the Avanos Medical website. A replay will be available later the same day.

Avanos Medical reported a strong second quarter of 2021 with net sales of $186 million, a 14% increase from last year, and net income of $38 million compared to a net loss in the previous year. The growth was driven by a recovery in elective procedures and the success of their Pain Management products, specifically COOLIEF and Game Ready therapies. Despite a temporary dip in gross margin to 46% due to increased transportation costs, the company remains optimistic about future improvement. A Deferred Prosecution Agreement with the DOJ has resolved past legal issues, enhancing compliance measures.