Avanos Medical (AVNS)
Market Price (7/13/2026): $24.94 | Market Cap: $1.2 BilSector: Health Care | Industry: Health Care Supplies
Avanos Medical (AVNS)
Market Price (7/13/2026): $24.94Market Cap: $1.2 BilSector: Health CareIndustry: Health Care Supplies
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, and Targeted Therapies. | Trading close to highsDist 52W High is -0.5% Weak multi-year price returns2Y Excs Rtn is -7.0%, 3Y Excs Rtn is -70% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 32x Stock price has recently run up significantly6M Rtn6 month market price return is 102%, 12M Rtn12 month market price return is 109% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 118% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% Key risksAVNS key risks include [1] persistent and widening losses driven by a lack of revenue and earnings growth, Show more. |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, and Targeted Therapies. |
| Trading close to highsDist 52W High is -0.5% |
| Weak multi-year price returns2Y Excs Rtn is -7.0%, 3Y Excs Rtn is -70% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 32x |
| Stock price has recently run up significantly6M Rtn6 month market price return is 102%, 12M Rtn12 month market price return is 109% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 118% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% |
| Key risksAVNS key risks include [1] persistent and widening losses driven by a lack of revenue and earnings growth, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Avanos Medical (AVNS) stock has gained about 80% since 3/31/2026 because of the following key factors:
1. Acquisition Agreement at a Significant Premium.
The primary driver for Avanos Medical's stock surge was the announcement on April 14, 2026, of a definitive agreement to be acquired by affiliates of American Industrial Partners (AIP) in an all-cash transaction. Avanos stockholders are set to receive $25.00 per share, which represented a substantial 72.1% premium to the stock's closing price on April 13, 2026, and an 82.8% premium to the 30-day Volume-Weighted Average Price (VWAP). This agreement valued the company at an enterprise value of approximately $1.272 billion.
2. Robust Growth in Specialty Nutrition Systems (SNS) Segment.
Avanos Medical reported strong performance in its Specialty Nutrition Systems (SNS) segment for fiscal Q1 2026, which ended March 31, 2026. The segment achieved net sales of $124.0 million, representing a 22.7% increase compared to the prior year period. This double-digit organic growth was highlighted as "above-market results" and likely contributed to the company's attractiveness as an acquisition target.
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Avanos Medical (AVNS) stock has gained about 80% since 3/31/2026 because of the following key factors:
1. Acquisition Agreement at a Significant Premium.
The primary driver for Avanos Medical's stock surge was the announcement on April 14, 2026, of a definitive agreement to be acquired by affiliates of American Industrial Partners (AIP) in an all-cash transaction. Avanos stockholders are set to receive $25.00 per share, which represented a substantial 72.1% premium to the stock's closing price on April 13, 2026, and an 82.8% premium to the 30-day Volume-Weighted Average Price (VWAP). This agreement valued the company at an enterprise value of approximately $1.272 billion.
2. Robust Growth in Specialty Nutrition Systems (SNS) Segment.
Avanos Medical reported strong performance in its Specialty Nutrition Systems (SNS) segment for fiscal Q1 2026, which ended March 31, 2026. The segment achieved net sales of $124.0 million, representing a 22.7% increase compared to the prior year period. This double-digit organic growth was highlighted as "above-market results" and likely contributed to the company's attractiveness as an acquisition target.
3. Positive Regulatory Developments for Pain Management Products.
Favorable regulatory news, specifically the Centers for Medicare and Medicaid Services (CMS) maintaining NOPAIN Act eligibility for Avanos' ON-Q and ambIT infusion pumps and adding Game Ready in 2026 (effective January 1, 2026), enhanced the value proposition of its Pain Management & Recovery segment. This regulatory support for separate Medicare payment for these key products provided a positive outlook for future revenue potential, making the company a more appealing investment.
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Stock Movement Drivers
Fundamental Drivers
The 77.9% change in AVNS stock from 3/31/2026 to 7/12/2026 was primarily driven by a 75.0% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.01 | 24.93 | 77.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 701 | 716 | 2.1% |
| P/S Multiple | 0.9 | 1.6 | 75.0% |
| Shares Outstanding (Mil) | 46 | 46 | -0.4% |
| Cumulative Contribution | 77.9% |
Market Drivers
3/31/2026 to 7/12/2026| Return | Correlation | |
|---|---|---|
| AVNS | 77.9% | |
| Market (SPY) | 16.1% | 15.8% |
| Sector (XLV) | 9.7% | 5.7% |
Fundamental Drivers
The 122.0% change in AVNS stock from 12/31/2025 to 7/12/2026 was primarily driven by a 117.5% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.23 | 24.93 | 122.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 700 | 716 | 2.3% |
| P/S Multiple | 0.7 | 1.6 | 117.5% |
| Shares Outstanding (Mil) | 46 | 46 | -0.2% |
| Cumulative Contribution | 122.0% |
Market Drivers
12/31/2025 to 7/12/2026| Return | Correlation | |
|---|---|---|
| AVNS | 122.0% | |
| Market (SPY) | 11.0% | 17.3% |
| Sector (XLV) | 4.3% | 10.9% |
Fundamental Drivers
The 103.7% change in AVNS stock from 6/30/2025 to 7/12/2026 was primarily driven by a 97.8% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.24 | 24.93 | 103.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 689 | 716 | 3.9% |
| P/S Multiple | 0.8 | 1.6 | 97.8% |
| Shares Outstanding (Mil) | 46 | 46 | -0.9% |
| Cumulative Contribution | 103.7% |
Market Drivers
6/30/2025 to 7/12/2026| Return | Correlation | |
|---|---|---|
| AVNS | 103.7% | |
| Market (SPY) | 23.2% | 21.1% |
| Sector (XLV) | 20.9% | 16.9% |
Fundamental Drivers
The -2.5% change in AVNS stock from 6/30/2023 to 7/12/2026 was primarily driven by a -7.0% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7122026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.56 | 24.93 | -2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 684 | 716 | 4.6% |
| P/S Multiple | 1.7 | 1.6 | -7.0% |
| Shares Outstanding (Mil) | 47 | 46 | 0.2% |
| Cumulative Contribution | -2.5% |
Market Drivers
6/30/2023 to 7/12/2026| Return | Correlation | |
|---|---|---|
| AVNS | -2.5% | |
| Market (SPY) | 76.3% | 25.4% |
| Sector (XLV) | 26.9% | 24.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AVNS Return | -24% | -22% | -17% | -29% | -29% | 122% | -46% |
| Peers Return | 10% | 2% | 19% | 20% | 24% | -16% | 66% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| AVNS Win Rate | 33% | 42% | 42% | 50% | 33% | 86% | |
| Peers Win Rate | 50% | 52% | 55% | 60% | 60% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| AVNS Max Drawdown | -45% | -44% | -44% | -37% | -43% | -16% | |
| Peers Max Drawdown | -20% | -28% | -17% | -13% | -14% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MDT, BSX, ABT, CAH, SYK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/10/2026 (YTD)
How Low Can It Go
| Event | AVNS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.9% | -18.8% |
| % Gain to Breakeven | 29.8% | 23.1% |
| Time to Breakeven | 364 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -27.9% | -9.5% |
| % Gain to Breakeven | 38.6% | 10.5% |
| Time to Breakeven | 329 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.7% | -33.7% |
| % Gain to Breakeven | 50.7% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -29.4% | -12.2% |
| % Gain to Breakeven | 41.7% | 13.9% |
| Time to Breakeven | 117 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -39.4% | -6.8% |
| % Gain to Breakeven | 65.1% | 7.3% |
| Time to Breakeven | 299 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -41.2% | -53.4% |
| % Gain to Breakeven | 70.2% | 114.4% |
| Time to Breakeven | 276 days | 1085 days |
In The Past
Avanos Medical's stock fell -22.9% during the 2025 US Tariff Shock. Such a loss loss requires a 29.8% gain to breakeven.
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| Event | AVNS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.9% | -18.8% |
| % Gain to Breakeven | 29.8% | 23.1% |
| Time to Breakeven | 364 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -27.9% | -9.5% |
| % Gain to Breakeven | 38.6% | 10.5% |
| Time to Breakeven | 329 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.7% | -33.7% |
| % Gain to Breakeven | 50.7% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -29.4% | -12.2% |
| % Gain to Breakeven | 41.7% | 13.9% |
| Time to Breakeven | 117 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -39.4% | -6.8% |
| % Gain to Breakeven | 65.1% | 7.3% |
| Time to Breakeven | 299 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -41.2% | -53.4% |
| % Gain to Breakeven | 70.2% | 114.4% |
| Time to Breakeven | 276 days | 1085 days |
In The Past
Avanos Medical's stock fell -22.9% during the 2025 US Tariff Shock. Such a loss loss requires a 29.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Avanos Medical (AVNS)
Avanos Medical (AVNS) is a global medical technology company dedicated to providing innovative medical device solutions across various healthcare needs. Operating in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America, the company focuses on improving patient care through its specialized product portfolios.
The company offers a robust suite of chronic care products. This includes digestive health solutions such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions. Avanos also provides respiratory health products, featuring closed airway suction systems and other airway management devices under brands like Ballard, Microcuff, and Endoclear.
Furthermore, Avanos Medical is a key provider of non-opioid pain solutions. Its offerings in this area include acute pain products like On-Q and ambIT surgical pain pumps, along with Game Ready cold and compression therapy systems. The company also delivers interventional pain solutions through minimally invasive therapies, such as Coolief pain relief therapy. Avanos markets its products directly to hospitals, healthcare providers, healthcare facilities, and other end-user customers, supplemented by sales through third-party wholesale distributors.
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- Avanos Medical is like the **Medtronic** of specialized chronic care and non-opioid pain management devices for hospitals.
- It's like **BD (Becton, Dickinson and Company)**, but exclusively focused on manufacturing devices for patient feeding, respiratory support, and non-opioid pain relief in healthcare settings.
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- Mic-Key enteral feeding tubes: Tubes designed for delivering nutrition and medication directly into the gastrointestinal tract.
- Corpak patient feeding solutions: Comprehensive solutions and devices for patient enteral feeding.
- NeoMed neonatal and pediatric feeding solutions: Specialized feeding solutions tailored for the unique needs of neonates and pediatric patients.
- Respiratory health products (e.g., Ballard, Microcuff, Endoclear): A range of devices including closed airway suction systems and other airway management tools.
- On-Q and ambIT surgical pain pumps: Non-opioid pain pumps used to deliver targeted pain relief post-surgery.
- Game Ready cold and compression therapy systems: Systems that combine active compression and cold therapy for injury recovery and post-operative rehabilitation.
- Coolief pain relief therapy: A minimally invasive, radiofrequency-based procedure for managing chronic pain.
AI Analysis | Feedback
Avanos Medical (AVNS) primarily sells its medical device solutions to other companies and organizations, rather than directly to individuals. Its major customers fall into the following categories:
- Hospitals and other healthcare providers: Avanos Medical markets its products directly to these institutions.
- Healthcare facilities: This includes various types of healthcare facilities that purchase Avanos Medical's products directly.
- Third-party wholesale distributors: These distributors then sell Avanos Medical's products to the end-user healthcare providers and facilities.
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David Pacitti, Chief Executive Officer
Mr. Pacitti was appointed Chief Executive Officer of Avanos Medical, Inc. on April 14, 2025. Prior to joining Avanos, he served as President of Siemens Medical Solutions USA, Inc. and Head of the Americas for Siemens Healthineers since 2015, where he was responsible for leading marketing, sales, service, and support functions across North and Latin America for their entire portfolio. Before Siemens Healthineers, he held several leadership positions at Abbott Vascular, including Division VP of U.S. Commercial Operations, Sales & Marketing, overseeing their North American business and playing a key role in launching their first drug-eluting stent and structural heart franchises. He joined Abbott Vascular through its acquisition of Guidant, where he held roles of increasing responsibility from 1995 to 2006.
Scott Galovan, Senior Vice President and Chief Financial Officer
Mr. Galovan was appointed Senior Vice President and Chief Financial Officer of Avanos Medical, effective August 1, 2025. He joined Avanos in 2013 during its spinoff from Kimberly-Clark and most recently served as the company's Senior Vice President of Strategy and Corporate Development. At Avanos, he has a proven track record of leading numerous acquisition and divestiture initiatives, including the sale of the Surgical & Infection Prevention business to Owens & Minor, the Respiratory Health business to AirLife (formerly SunMed), and the acquisitions of CORPAK, Game Ready, Summit Medical, NeoMed, OrthogenRx, and Diros Medical. Before joining Avanos, he spent 10 years in various strategy, finance, and M&A roles at Newell Brands, Equity Pacific Partners (where he was a Principal), and Intel Capital (where he was an Investment Director).
Camille Chang Gilmore, Senior Vice President and Chief Human Resources Officer
Ms. Chang Gilmore is responsible for Avanos Medical’s global people strategy, which encompasses talent acquisition, workforce planning, leadership development, and the overall employee experience. Her leadership focuses on fostering a workplace culture where employees feel valued, empowered, and inspired.
Sigfrido Delgado, Senior Vice President, Operations
Mr. Delgado serves as the Senior Vice President of Operations for Avanos Medical.
Kerr W. Holbrook, Senior Vice President and Chief Commercial Officer
Mr. Holbrook is the Senior Vice President and Chief Commercial Officer at Avanos Medical.
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Here are the key risks to Avanos Medical (AVNS):
- Regulatory Changes and Reimbursement Pressures: Avanos Medical faces significant risk from changes in governmental regulations and reimbursement policies, particularly concerning its pain management solutions. This includes pressures on radiofrequency ablation (RFA) products and pending Medicare coverage decisions, which can directly impact product demand and profitability.
- Profitability Challenges and Financial Health: The company has experienced ongoing challenges with profitability, marked by negative net margins and earnings per share. Avanos Medical has also disclosed significant goodwill impairments in recent years (e.g., $77.0 million in 2025 and $336.5 million in 2024), indicating that prior expectations in its Pain Management & Recovery segment were overly optimistic. Additionally, an Altman Z-Score suggesting financial distress implies a potential risk of bankruptcy within the next two years.
- Tariffs, Supply Chain Disruptions, and Manufacturing Concentration: Avanos Medical is exposed to significant and increasing tariff impacts, with an estimated $30 million impact projected for 2026, primarily from China-sourced products. While the company is actively mitigating this by exiting China manufacturing, ongoing disruptions in the supply of raw materials or the distribution of finished goods, alongside a concentration of manufacturing operations in Mexico, pose material operational and financial risks.
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Avanos Medical (symbol: AVNS) operates in several medical technology markets, including chronic care and non-opioid pain solutions. The addressable markets for its main products and services are sized as follows:
Chronic Care Products
Digestive Health (Enteral Feeding Devices)
- The global enteral feeding devices market was valued at approximately USD 6.5 billion in 2024 and is projected to reach USD 11.6 billion by 2034. Other estimates for the global market in 2024 range from USD 3.89 billion to USD 4.5 billion.
- The U.S. enteral feeding devices market was valued at USD 1.9 billion in 2024. North America is projected to dominate the global enteral feeding devices market in 2024, accounting for approximately 43% of the total share.
Respiratory Health (Respiratory Care Devices)
- The global respiratory care devices market size was valued at USD 23.82 billion in 2024 and is expected to reach USD 47.47 billion by 2032. Another estimate places the global market at USD 23.5 billion in 2024, reaching USD 43.5 billion by 2033.
- North America dominates the global respiratory care devices market, holding approximately 58.5% of the market share, with the U.S. accounting for about 45% of the global market share in 2024.
Non-Opioid Pain Solutions
Acute Pain and Interventional Pain (Non-Opioid Pain Management and Radiofrequency Ablation)
- The global non-opioid pain treatment market size was estimated at USD 48.38 billion in 2024 and is expected to reach around USD 96.25 billion by 2034. Other estimates for the global market in 2024 range from USD 45,321.9 million to USD 53.07 billion.
- The U.S. non-opioid pain treatment market size was valued at USD 17.08 billion in 2024. North America dominated the global non-opioid pain treatment market with a revenue share of 50% in 2024.
- Specifically for interventional pain solutions like Coolief, the global radiofrequency ablation devices market size was valued at USD 4.63 billion in 2024 and is expected to reach nearly USD 11.31 billion by 2032. Another report estimated the global market size at USD 5.07 billion in 2024, projected to grow to USD 14.23 billion by 2033.
- North America holds the highest share in the global radiofrequency ablation devices market in 2024.
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- Strong Organic Growth in Specialty Nutrition Systems (SNS): The SNS segment is expected to continue its robust performance, building on the double-digit organic growth observed in its short-term enteral feeding portfolio and high single-digit growth in long-term feeding. This includes sustained demand for products like Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.
- Impact from Recently Launched Products and Portfolio Expansion: The successful and better-than-anticipated adoption of the CORGRIP tube retention system, launched in late 2024, is contributing significant momentum. Additionally, the ongoing U.S. expansion of the CORTRAK standard-of-care offering and the "Go Direct" transition in the U.K. for enteral feeding are expected to further drive revenue.
- Strategic Acquisitions: The acquisition and successful integration of Nexus Medical into the neonatal portfolio is expected to be a double-digit organic growth contributor in 2026. Avanos Medical's long-term strategy also includes pursuing synergistic merger and acquisition opportunities to achieve its target of $1 billion in revenue by 2030.
- Growth in Interventional Pain Solutions (Radiofrequency Ablation - RFA): The company's interventional pain solutions, particularly the radiofrequency ablation (RFA) business, has consistently demonstrated double-digit organic growth within the Pain Management & Recovery segment and is expected to continue this positive trend.
- Strategic Pricing Initiatives: Avanos plans to implement strategic pricing actions, which are expected to contribute to earnings per share (EPS) expansion in 2026, thereby directly impacting revenue growth.
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Share Repurchases
- Avanos Medical announced a share repurchase program authorizing the company to purchase up to $30 million of its common stock in December 2021.
- The company repurchased $25 million of its common stock under a share repurchase program in 2025.
- Avanos approved a new one-year program in November 2024 to repurchase up to $25 million of its common stock.
Share Issuance
- Information regarding significant dollar amounts of shares issued by Avanos Medical was not explicitly available within the provided search results for the specified period.
Outbound Investments
- Avanos acquired OrthogenRx, Inc. on January 20, 2022, to enhance its interventional pain portfolio.
- In 2023, Avanos completed the acquisition of Diros Technology Inc. for $53.0 million, adding innovative radiofrequency ablation (RFA) products.
- Avanos acquired Nexus Medical, LLC in 2025 for $27.0 million plus up to $20.0 million in contingent consideration, expanding its vascular access market portfolio.
- The company divested its Respiratory Health business for $110.0 million in 2023 and sold its HA product line and Game Ready rental business in 2025 as part of its transformation initiatives.
Capital Expenditures
- Avanos Medical's capital expenditures for the first six months of 2025 were $17.7 million.
- Expected capital expenditures for 2026 are approximately $25 million, which is about $7 million lower than 2025.
- The 2026 capital expenditures will primarily support the accelerated exit plan from China for neonatal syringe production, shifting manufacturing to Tijuana, Mexico, and Southeast Asia.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 88.90 |
| Mkt Cap | 87.0 |
| Rev LTM | 30,816 |
| Op Inc LTM | 4,614 |
| FCF LTM | 4,478 |
| FCF 3Y Avg | 3,308 |
| CFO LTM | 5,188 |
| CFO 3Y Avg | 3,960 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.6% |
| Rev Chg 3Y Avg | 6.7% |
| Rev Chg Q | 9.3% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 10.2% |
| Op Inc Chg 3Y Avg | 18.7% |
| Op Mgn LTM | 17.9% |
| Op Mgn 3Y Avg | 17.5% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 20.6% |
| CFO/Rev 3Y Avg | 19.3% |
| FCF/Rev LTM | 15.5% |
| FCF/Rev 3Y Avg | 14.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Specialty Nutrition Systems (SNS) | 433 | 396 | |||
| Pain Management and Recovery (PM&R) | 238 | 234 | |||
| Corporate and Other | 30 | 57 | |||
| Digestive Health | 372 | 340 | 322 | ||
| Interventional pain | 162 | 184 | 102 | ||
| Surgical pain and recovery | 139 | 160 | 163 | ||
| Respiratory health | 158 | ||||
| Total | 701 | 688 | 673 | 684 | 745 |
| $ Mil | 2025 | 2024 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
| Specialty Nutrition Systems (SNS) | 83 | 81 | |||
| Pain Management and Recovery (PM&R) | 9 | 3 | |||
| Corporate and Other | -153 | -480 | -178 | -109 | |
| Medical Devices | 155 | 124 | 108 | ||
| Other (expense) income, net | -20 | -18 | |||
| S&IP | 91 | ||||
| Corporate & Other | -584 | ||||
| Surgical and Infection Prevention | 98 | ||||
| Total | -62 | -396 | -43 | 87 | -378 |
| $ Mil | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|
| Medical Devices | 1,190 | 1,197 | 1,031 | 1,042 |
| Corporate and Other | 1,006 | 160 | ||
| S&IP | 714 | |||
| Corporate & Other | 203 | 250 | ||
| Surgical and Infection Prevention | 766 | 1,235 | ||
| Total | 2,196 | 2,072 | 2,000 | 2,528 |
Price Behavior
| Market Price | $24.93 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -0.5% | |
| 50 Days | 200 Days | |
| DMA Price | $24.60 | $16.21 |
| DMA Trend | up | up |
| Distance from DMA | 1.4% | 53.8% |
| 3M | 1YR | |
| Volatility | 141.3% | 77.8% |
| Downside Capture | -5.33 | 57.90 |
| Upside Capture | 217.00 | 131.26 |
| Correlation (SPY) | 17.6% | 21.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.00 | 0.01 | 1.46 | 1.28 | 1.31 | 0.91 |
| Up Beta | -0.05 | -0.01 | 2.49 | 2.64 | 2.59 | 0.99 |
| Down Beta | -0.01 | 0.00 | 0.06 | 0.87 | 0.79 | 0.58 |
| Up Capture | 4% | 5% | 218% | 183% | 148% | 74% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 8 | 19 | 32 | 66 | 124 | 361 |
| Down Capture | 0% | -1% | -9% | -18% | 67% | 103% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 10 | 17 | 25 | 51 | 116 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNS | |
|---|---|---|---|---|
| AVNS | 103.6% | 77.4% | 1.15 | - |
| Sector ETF (XLV) | 20.3% | 15.7% | 0.98 | 16.3% |
| Equity (SPY) | 22.1% | 12.5% | 1.31 | 21.0% |
| Gold (GLD) | 23.5% | 27.8% | 0.75 | 9.0% |
| Commodities (DBC) | 23.6% | 18.7% | 0.99 | -3.6% |
| Real Estate (VNQ) | 13.4% | 13.9% | 0.67 | 18.3% |
| Bitcoin (BTCUSD) | -42.5% | 42.8% | -1.17 | 6.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNS | |
|---|---|---|---|---|
| AVNS | -6.6% | 47.8% | -0.01 | - |
| Sector ETF (XLV) | 6.5% | 14.9% | 0.25 | 31.0% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 32.7% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 8.5% |
| Commodities (DBC) | 7.3% | 19.5% | 0.27 | 4.7% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 34.3% |
| Bitcoin (BTCUSD) | 13.8% | 53.4% | 0.44 | 11.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNS | |
|---|---|---|---|---|
| AVNS | -2.1% | 44.5% | 0.10 | - |
| Sector ETF (XLV) | 10.3% | 16.6% | 0.51 | 41.2% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 42.8% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 6.3% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 13.0% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 39.8% |
| Bitcoin (BTCUSD) | 58.6% | 66.2% | 0.99 | 10.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/7/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 0.2% | 0.6% | 1.3% |
| 2/24/2026 | -10.4% | -8.2% | -10.4% |
| 11/5/2025 | -5.7% | 3.2% | -0.4% |
| 8/5/2025 | -12.1% | -6.5% | 9.8% |
| 5/6/2025 | 5.4% | 7.5% | 2.3% |
| 2/26/2025 | 0.4% | -3.5% | -9.0% |
| 10/30/2024 | -17.9% | -12.6% | -15.4% |
| 7/31/2024 | 4.2% | -0.1% | 5.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 11 |
| # Negative | 11 | 13 | 14 |
| Median Positive | 4.3% | 5.4% | 6.0% |
| Median Negative | -10.4% | -9.4% | -11.6% |
| Max Positive | 13.2% | 18.4% | 20.9% |
| Max Negative | -17.9% | -20.5% | -15.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 0.2% | 0.6% | 1.3% |
| 2/24/2026 | -10.4% | -8.2% | -10.4% |
| 11/5/2025 | -5.7% | 3.2% | -0.4% |
| 8/5/2025 | -12.1% | -6.5% | 9.8% |
| 5/6/2025 | 5.4% | 7.5% | 2.3% |
| 2/26/2025 | 0.4% | -3.5% | -9.0% |
| 10/30/2024 | -17.9% | -12.6% | -15.4% |
| 7/31/2024 | 4.2% | -0.1% | 5.0% |
| 5/2/2024 | 4.9% | 4.1% | 6.0% |
| 2/20/2024 | 1.6% | 0.4% | 1.3% |
| 1/4/2024 | -17.2% | -9.4% | -13.7% |
| 11/1/2023 | 13.2% | 15.5% | 17.4% |
| 8/9/2023 | -1.5% | -6.4% | -14.9% |
| 5/3/2023 | -15.6% | -20.5% | -15.3% |
| 2/21/2023 | -3.1% | -5.6% | -1.5% |
| 11/2/2022 | 3.3% | 6.7% | 20.9% |
| 8/9/2022 | 0.9% | 3.6% | -15.1% |
| 5/4/2022 | 5.3% | -13.1% | -2.1% |
| 2/23/2022 | 7.4% | 18.4% | 9.6% |
| 11/2/2021 | 2.3% | 6.7% | -7.0% |
| 8/3/2021 | -4.1% | -11.7% | -14.3% |
| 5/7/2021 | -3.9% | -9.6% | -7.3% |
| 2/18/2021 | -13.2% | -12.5% | -12.9% |
| 11/3/2020 | 8.7% | 11.9% | 13.3% |
| 8/4/2020 | 4.4% | 0.1% | 3.6% |
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 11 |
| # Negative | 11 | 13 | 14 |
| Median Positive | 4.3% | 5.4% | 6.0% |
| Median Negative | -10.4% | -9.4% | -11.6% |
| Max Positive | 13.2% | 18.4% | 20.9% |
| Max Negative | -17.9% | -20.5% | -15.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 11/02/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 11/03/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
| 06/30/2019 | 08/06/2019 | 10-Q |
Insider Activity
Updated 5/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Holbrook, Kerr | SVP, Chief Commercial Officer | Direct | Sell | 11192025 | 11.00 | 15,000 | 165,014 | 922,539 | Form |
| 2 | Blackford, Gary | Direct | Buy | 8152025 | 10.97 | 20,000 | 219,500 | 1,005,233 | Form | |
| 3 | Blackford, Gary | Shares held in trust. | Buy | 8152025 | 10.99 | 40,000 | 439,800 | 439,800 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Holbrook, Kerr | SVP, Chief Commercial Officer | Direct | Sell | 11192025 | 11.00 | 15,000 | 165,014 | 922,539 | Form |
| 2 | Blackford, Gary | Direct | Buy | 8152025 | 10.97 | 20,000 | 219,500 | 1,005,233 | Form | |
| 3 | Blackford, Gary | Shares held in trust. | Buy | 8152025 | 10.99 | 40,000 | 439,800 | 439,800 | Form |
Investor Activity (13F)
Updated Jul 13, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank and community-bank filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Boone Capital Management LLC | $16.6 Mil | 5.1% | 13 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Boone Capital Management LLC | $16.6 Mil | 5.1% | 13 | New | 13F |
| Active Manager |
|---|
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Boone Capital Management LLC | $16.6 Mil | 5.1% | 13 | New | 13F |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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