• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Avanos Medical shares down nearly 22% on Q3 losses

Avanos Medical shares down nearly 22% on Q3 losses

November 5, 2019 By Sean Whooley

AvanosAvanos Medical (NYSE:AVNS) shares sunk today on third-quarter results that came up short of Wall Street’s projections.

The Alpharetta, Ga.–based company posted losses of -$11.5 million, or -24¢ per share, on sales of $171.4 million for the three months ended Sept. 30, sliding on last year’s $4.2 million Q3 profit on sales growth of 3.8%.

Adjusted to exclude one-time items, earnings per share were 30¢, 1¢ behind Wall Street, where analysts were looking for sales of $179.84 million.

“Our Coolief business delivered another quarter of double-digit growth; nevertheless, we were disappointed that our overall third-quarter performance fell short of our expectations,” CEO Joe Woody said in prepared remarks. “We were pleased to learn that the final CMS rules for 2020 announced last Friday makes Coolief procedures for the knee once again viable in the hospital, enabling patients suffering from osteoarthritis of the knee to continue to benefit from our leading non-opioid pain management therapy.”

Avanos said it now expects to log adjusted EPS of $1.00 to $1.10, compared to $1.15 to $1.25 previously.

“Our performance gap this quarter was due primarily to product backorders and supply chain challenges stemming from the implementation of our new IT system and an unexpected distributor inventory drawdown impacting our Chronic Care business,” added Woody. “Our teams are working hard to address the implementation challenges of our new IT system. Overall, I’m confident the steps we’re taking will enable us to address those challenges, meet customer demands, and increase shareholder value, as we continue investing for growth, prudently managing expenses, and strategically deploying capital.”

AVNS shares were down nearly -22% at $37.08 per share by the close of trading today.

Filed Under: Business/Financial News, MassDevice Earnings Roundup, Wall Street Beat Tagged With: Avanos Medical (formerly Halyard Health)

More recent news

  • Autonomix picks up key nerve ablation catheter patent
  • Affluent Medical can move to pivotal phase of artificial urinary sphincter study
  • Globus Medical announces $500M share repurchase program
  • Cook Medical warns of issue with angiographic catheter
  • Virtuoso Surgical reports first cases with robotic endoscopy system, plans FDA IDE submission

About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy