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Avanos Medical

Avanos Medical Inc is a United States-based company that develops and sells medical devices and related services globally. Its operating and reportable segment provides medical device products to healthcare providers and patients. The company has now changed two franchises: has combined Chronic Care and Pain Management franchises into a single commercial organization focused on the Digestive Health and Pain Management and Recovery product categories that generate its revenue from its Chronic Care franchise and in North America.

Avanos Medical Inc

Billionaire Elon Musk previously sold all his homes so he could live a more minimalistic life, moving to Texas to be closer to his many <a href="https://www.benzinga.com/news/24/07/39804744/spacex-x-to-move-headquarters-from-california-to-texas-musk-calls-it-the-final-straw-criticizes-gov">business operations there.</a>
Musk is now looking to build a secret compound for his kids and their mothers, according to a new report.
What Happened: Musk has <a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday">fathered 12 children</a> with three different women and his new plans could be to have his children live close to each other to maximize his time with them as he remains a busy man running several companies.
Musk has bought several properties near each other in the Austin, Texas, area, according to a <a href="https://www.nytimes.com/2024/10/29/business/elon-musk-children-compound.html?partner=slack&amp;smid=sl-share">report </a>from the New York Times.
Included in the properties is a 14,400-square-foot home that could be the centerpiece of a planned family compound. Behind the larger property is a smaller six-bedroom mansion.
Musk spent $35 million for the two properties according to the report. The billionaire stays at a third mansion, which he can reach in a short 10-minute walk.
Shivon Zilis, who is an executive at Musk's Neuralink, moved into one of the houses with her children, according to the report. Musk and Zilis have three children together, twins Strider and Azure born in November 2021, and a child born in 2024, whose name has not been revealed.
While one mother of some of Musk's kids is supportive of the idea, another hasn't been supportive. Claire Boucher, better known as musician Grimes, is in a legal fight with Musk currently. Musk and Grimes have three children together.
Musk's first wife Justine Musk is the other mother of his children and the report did not say if she was receptive to the idea of a family compound. Musk and his first wife had six children together, with five living and one having previously passed away at the age of 10 months.
One of the five living children with his first wife is transgender and changed her legal name, distancing herself from her father.
Operations for Tesla, SpaceX and X can all be found in Texas, where Musk now spends a good portion of his time.
You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five </a><a href="https://www.benzinga.com/real-estate/reit/24/10/41549488/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">stocks </a><a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">flying under the radar that deserve your attention.</a>
Why It's Important: Musk's real estate purchases come as he has for years talked <a href="https://www.benzinga.com/news/24/06/39443823/elon-musk-once-said-collapsing-birth-rate-is-the-biggest-danger-civilization-faces-he-has-fathered-1">about declining birthrates</a> and encouraged people to have as many children as possible to save humankind.
"It should be considered a national emergency to have kids," Musk said previously in June 2024.
Musk is supportive of in-vitro fertilization (IVF), which was used for several of his children. The billionaire has also volunteered donating sperm to at least one person to father more children, according to the report.
The real estate dealings of Musk have drawn increased interest from the press and the <a href="https://www.benzinga.com/news/23/09/34743808/elon-musk-glass-house-case-sees-justice-department-looking-into-personal-benefits-from-tesla-the-lat">U.S. Department of Justice (DOJ) previously.</a>
Musk was reported <a href="https://www.benzinga.com/news/23/07/33200386/did-elon-musk-have-a-secret-glass-house-project-in-texas-new-report-looks-into-project-42">building a secret glass house</a> several years ago, which he denied. The DOJ launched an investigation into whether the house was using resources from Tesla.
Around the same time of the investigation, Musk was said to begin touring Austin looking for homes and later lived in a 6,900-square-foot house in the area with Boucher. The billionaire got the idea of buying more property near that home to start the family compound.
Musk is currently the richest person in the world worth an estimated $270 billion by <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/23/02/30928396/elon-musk-the-landlord-tesla-ceo-might-be-bringing-houses-to-employees-with-this-company">Elon Musk, The Landlord? Tesla CEO Might Be Bringing Houses To Employees With This Company</a></li>
</ul>
Photo: Elon Musk and Grimes (Claire Boucher), Photo by Sky Cinema on Shutterstock

Entertainment

Real Estate

Elon Musk Want His 11 Kids, Their Mothers To Live In Secret Compound He Bought, New Report Says

Buenaventura Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) reported quarterly earnings of $0.93 per share. The company reported quarterly sales of $331.100 million which beat the analyst consensus estimate of $263.025 million by 25.88 percent. This is a 56.70 percent increase over sales of $211.300 million the same period last year.

Earnings

Earnings Beats

News

Buenaventura Mining Co Q3 2024 GAAP EPS $0.93, Sales $331.100M Beat $263.025M Estimate

Editor&#8217;s Note: The fourth-quarter revenue estimate was corrected. 
Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reported third-quarter financial results after the market close on Wednesday. Here&#8217;s everything <a href="https://www.benzinga.com/pressreleases/24/10/n41635757/meta-reports-third-quarter-2024-results">you need to know from the quarter</a>.
Q3 Earnings: Meta reported third-quarter revenue of $40.59 billion, beating&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">analyst estimates</a>&nbsp;of $40.29 billion. The company reported third-quarter adjusted earnings of $6.03 per share, beating analyst estimates of $5.25 per share.
Meta has now beat analyst estimates on the top and bottom lines in seven consecutive quarters, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Total revenue was up 19% on a year-over-year basis. Family daily active people were up 5% year-over-year to 3.29 billion. Ad impressions jumped 7% year-over-year and average price per ad increased by 11% year-over-year.
Costs and expenses came in at $23.24 billion, up 14% year-over-year. Capital expenditures came in at $9.2 billion. The company ended the quarter with $70.9 billion in cash, cash equivalents and marketable securities, and $28.82 billion of long-term debt.
Meta noted that its headcount was up 9% year-over-year to 72,404 as of Sept. 30.
&#8220;We had a good quarter driven by AI progress across our apps and business,&#8221; said&nbsp;Mark Zuckerberg, founder and CEO of Meta. &#8220;We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses.&#8221;
Related Link: <a href="https://www.benzinga.com/markets/equities/24/10/41629264/alphabets-earnings-rally-pushes-magnificent-7-market-cap-to-record-16-8-trillion-10-tech-heavy-e">Alphabet&#8217;s Earnings Rally Pushes Magnificent 7 Market Cap To Record $16.8 Trillion: 10 Tech-Heavy ETFs Moving Wednesday</a>
Outlook: Meta expects fourth-quarter revenue to be in the range of $45 billion to $48 billion versus an estimate of $46.31 billion. 
Meta expects full-year 2024 total expenses to be in the range of&nbsp;$96 billion to $98 billion, versus prior guidance of $96 to $99 billion. The company expects full-year 2024 capital expenditures to be in the range of&nbsp;$38 billion to $40 billion, versus its prior guidance range of&nbsp;$37 billion to $40 billion.
&#8220;For Reality Labs, we continue to expect 2024 operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and investments to further scale our ecosystem,&#8221; the company said. 
Meta executives will hold a conference call to discuss the company&#8217;s quarterly results at 5 p.m. ET.
META Price Action:&nbsp;<a href="http://benzinga.com/quote/meta">Meta Platforms shares</a> were up approximately 68% year-to-date heading into the report. The stock was flat after-hours, trading at $592 at the time of publication Wednesday, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
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</ul>
Photo: Shutterstock.
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After-Hours Center

Movers

Tech

Meta Platforms Q3 Earnings: Revenue Beat, EPS Beat, Daily Actives Up 5%, 'Strong Momentum' In AI (CORRECTED)

Hamilton Beach Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBB#NYSE">HBB</a>) .

Guidance

Hamilton Beach Brands expects FY 2024 Cash Flow from operating activities less cash used for investing activities to be at the high end of $25M to $35M per year.

CORRECTION: Meta Platforms Sees Q4 Revenue $45B-$48B Vs $46.31B Est.

Trupanion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUP#NASDAQ">TRUP</a>) sees Q4 sales of $333.000 million-338.000 million vs $329.28 million estimate.

TRUP

Trupanion Sees Q4 Sales $333.000M-338.000M vs $329.28M Est.

Trupanion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUP#NASDAQ">TRUP</a>) raises FY2024 sales outlook from $1.26 billion-1.28 billion to $1.28 billion-1.29 billion.

Trupanion Raises FY2024 Sales Guidance from $1.26B-1.28B to $1.28B-1.29B.

The Company announced the appointment of Mr. Konstantinos Ferderigos as General Manager for its Greek Operations.&nbsp;
&nbsp;

Management

Advent Technologies Reveals Changes To Its Board And C-suite By Removing Chairman And CEO Vasilis Gregoriou And Chief Strategy Officer Chris Kaskavelis

Silicon Motion Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIMO#NASDAQ">SIMO</a>) sees Q4 sales of $191.000 million-202.000 million vs $208.21 million estimate.

SIMO

Silicon Motion Technology Sees Q4 Sales $191.000M-202.000M vs $208.21M Est

Silicon Motion Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIMO#NASDAQ">SIMO</a>) sees Q4 sales of $191.000 million-202.000 million.

Silicon Motion Technology Sees Q4 Sales $191.000M-202.000M

Carriage Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSV#NYSE">CSV</a>) raises FY2024 Adj EPS guidance from $2.30-2.40 to $2.45-2.55 vs $2.34 analyst estimate. Raises FY2024 sales outlook from $390.00 million-400.00 million to $395.00 million-405.00 million vs $395.76 million estimate.

Carriage Servs Raises FY2024 Adj EPS Guidance from $2.30-2.40 to $2.45-2.55 vs $2.34 Est; Raises FY2024 Sales Guidance from $390.00M-400.00M to $395.00M-405.00M vs $395.76M Est

From January 1, 2024 to October 30, 2024, the Company repurchased 1.28 million shares of common stock at a cost of approximately $165 million.&nbsp;
This authorization replenishes existing common stock repurchase program, bringing the total repurchase authorization to approximately 2 million shares, which represents approximately 5% of shares outstanding.

Buybacks

Boise Cascade Board Authorizes Repurchase Of Additional 1.4M Shares Of Common Stock Under Existing Common Stock Repurchase Program

Teladoc Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) shares are moving higher in extended trading Wednesday after the company reported financial results for the third quarter that <a href="https://www.benzinga.com/pressreleases/24/10/g41635843/teladoc-health-reports-third-quarter-2024-results">topped analyst expectations</a>.
<ul>
<li>Q3 Revenue: $640.51 million, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $631.16 million</li>
</ul>
<ul>
<li>Q3 EPS: Loss of 19 cents, versus estimates for a loss of 27 cents</li>
</ul>
Total revenue was down 3% on a year-over-year basis. Integrated Care segment revenue was up 2% year-over-year, while BetterHelp segment revenue declined 10% year-over-year. U.S. revenue fell 6% year-over-year, while International revenue grew 15%.
Cash flow from operations totaled $110.2 million in the third quarter. The company said it generated $79 million in free cash flow during the quarter.
&#8220;As we close out 2024, we are moving with urgency and making changes to more effectively leverage our leadership position in the complex and dynamic markets we serve. There is more work ahead of us, and 2025 will be an important repositioning year. Our focus remains on delivering consistent performance and driving long-term shareholder value,&#8221; said Chuck Divita, CEO of Teladoc Health.
Guidance: Teladoc expects fourth-quarter Integrated Care segment revenue to be flat to up 2.5% in the fourth quarter. The company expects full-year Integrated Care segment revenue to grow in the low single digits to mid-single digits.
TDOC Price Action: <a href="https://www.benzinga.com/quote/TDOC" target="_blank" rel="noreferrer noopener">Teladoc shares</a> were up 9.26 % in after-hours, trading at $9.68 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next: • <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">Meta Platforms Q3 Earnings: Revenue Beat, EPS Beat, Daily Actives Up 5%, &#8216;Strong Momentum&#8217; In AI</a>
Photo: Courtesy of Teladoc.

Health Care

TDOC

Teladoc Health Q3 Earnings: Revenue Beat, EPS Beat, Shares Jump 10%

NN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNBR#NASDAQ">NNBR</a>) affirms FY2024 sales outlook from $465.00 million-485.00 million to $465.00 million-485.00 million.

NNBR

NN Affirms FY2024 Sales Guidance from $465.00M-485.00M to $465.00M-485.00M

Tsai has served as our Interim CFO since April 25, 2024.

Silicon Motion Names Jason Tsai, Currently Its Interim CFO, As Finance Chief, Effective October 28, 2024

Silicon Motion Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIMO#NASDAQ">SIMO</a>) reported quarterly earnings of $0.92 per share which beat the analyst consensus estimate of $0.85 by 8.24 percent. The company reported quarterly sales of $212.412 million which beat the analyst consensus estimate of $209.470 million by 1.40 percent. This is a 23.26 percent increase over sales of $172.333 million the same period last year.

Silicon Motion Technology Q3 2024 Adj. EPS $0.92 Beats $0.85 Estimate, Sales $212.412M Beat $209.470M Estimate

NN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNBR#NASDAQ">NNBR</a>) reported quarterly losses of $(0.05) per share which missed the analyst consensus estimate of $(0.03) by 66.67 percent. The company reported quarterly sales of $113.587 million which missed the analyst consensus estimate of $120.501 million by 5.74 percent. This is a 8.72 percent decrease over sales of $124.443 million the same period last year.

Earnings Misses

NN Q3 2024 Adj. EPS $(0.05) Misses $(0.03) Estimate, Sales $113.587M Miss $120.501M Estimate

Excluding $1.0 million of net accretion income related to fair value adjustments, net income would have been $627,000 for the three months ended September 30, 2024.

SRBK

SR Bancorp September Quarter EPS $0.16, Up From $(10.03) Prior Year

NB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBBK#NASDAQ">NBBK</a>) reported quarterly earnings of $0.33 per share which beat the analyst consensus estimate of $0.23 by 43.48 percent. The company reported $42.59 million in sales this quarter. This is a 16.29 percent increase over sales of $36.62 million the same period last year.

NBBK

NB Bancorp Q3 2024 Adj EPS $0.33 Beats $0.23 Estimate, Sales $42.59M Up From $36.62M YoY

Custom Truck One Source (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTOS#NYSE">CTOS</a>) narrows FY2024 sales outlook from $1.80 billion-1.98 billion to $1.80 billion-1.89 billion.

CTOS

Custom Truck One Source Narrows FY2024 Sales Guidance from $1.80B-1.98B to $1.80B-1.89B

Avanos Medical Non-GAAP EPS of $0.34 beats by $0.05, revenue of $171.7M beats by $1.03M

Avanos Medical, Inc. 2024 Q2 - Results - Earnings Call Presentation

Avanos Medical, Inc. (AVNS) Q2 2024 Earnings Call Transcript

In a report released today, Daniel Stauder from JMP Securities reiterated a Hold rating on Avanos Medical (AVNS – Research Report). The company's s...

JMP Securities Keeps Their Hold Rating on Avanos Medical (AVNS)

Stifel Nicolaus analyst Rick Wise maintained a Hold rating on Avanos Medical (AVNS – Research Report) yesterday and set a price target of $24.00. T...

Stifel Nicolaus Remains a Hold on Avanos Medical (AVNS)

The medical industry is on the fence of explosive growth, fueled by technological advancements. In this evolving landscape, investors could consider investing in promising medical device stocks like Hologic, Inc. (HOLX), Avanos Medical (AVNS), and Embecta Corp. (EMBC) with solid growth prospects. Learn more… Thanks to cutting-edge technology, medical stocks are effectively reshaping the healthcare sector. The industry is experiencing significant growth, driven by increasing demand for advanced healthcare solutions, particularly in diagnostics, surgeries, and patient monitoring.
Given this backdrop, investors looking for growth opportunities could take a look at these three fundamentally robust medical device stocks: Hologic, Inc. (<a href="https://stocknews.com/stock/HOLX/">HOLX</a>), Avanos Medical, Inc. (<a href="https://stocknews.com/stock/AVNS/">AVNS</a>), and Embecta Corp. (<a href="https://stocknews.com/stock/EMBC/">EMBC</a>). These companies are shaping healthcare delivery's future and benefitting from technological advancements.
The medical devices industry is poised for steady growth as its market size is anticipated to reach <a href="https://www.mordorintelligence.com/industry-reports/global-medical-device-technologies-market-industry?network=g&amp;source_campaign=&amp;utm_source=google&amp;utm_medium=cpc&amp;matchtype=b&amp;device=c&amp;gad_source=1&amp;gclid=Cj0KCQjwpP63BhDYARIsAOQkATb9SdZ7QZMMYB0trPXq_zr3V73FHtcX5g9Z7xWnrv4R67MwdKzHOV0aApKdEALw_wcB">$893.07 billion by 2029</a>, exhibiting a CAGR of 7%. Moreover, by 2030, the global annual medical device sales are forecasted to <a href="https://kpmg.com/us/en/articles/2023/medical-devices-2030.html#:~:text=The%20medical%20device%20industry%20is,US%24800%20billion%20by%202030%20.">hit $800 billion</a>.
Moreover, innovations like AI-powered diagnostic tools, wearable health devices, and robotic surgery systems are revolutionizing patient care. The FDA has already authorized <a href="https://www.fda.gov/medical-devices/software-medical-device-samd/artificial-intelligence-and-machine-learning-aiml-enabled-medical-devices#:~:text=the%20FDA%20has%20authorized%20950%20AI/ML%2Denabled%20medical%20devices.">950 AI/ML-enabled medical devices</a>, which promise faster diagnoses, more precise treatments, and improved patient outcomes.
Considering these favorable trends, let's look at the fundamentals of the above-mentioned <a href="https://stocknews.com/category/medical-devices-equipment/">Medical - Devices &amp; Equipment</a> picks in detail:
Stock #3: Hologic, Inc. (<a href="https://stocknews.com/stock/HOLX/">HOLX</a>)
HOLX is a medical technology company focused on improving women's health and well-being through early detection and treatment. It is a developer, manufacturer, and supplier of worldwide diagnostics, medical imaging systems, and surgical products. The company operates through four segments: Diagnostics; Breast Health; GYN Surgical; and Skeletal Health.
On July 25, HOLX acquired Endomagnetics Ltd., a privately held UK-based developer of breast cancer surgery technologies, for $310 million. This acquisition enhances access to Endomag's innovative technologies and diversifies HOLX's expanding interventional breast health portfolio.
In the fiscal third quarter that ended on June 29, 2024, HOLX's total revenue increased 2.7% year-over-year to $1.01 billion with a non-GAAP gross margin of 61.1% (up 30 bps year-over-year). The company reported income from operations of $244 million, indicating a significant growth from the prior year quarter.
In addition, its adjusted EBITDA increased 8.5% year-over-year to $338.50 million. HOLX's non-GAAP <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> came in at $250.70 million, up 8.4% year-over-year, while its non-GAAP EPS grew 14% from the year-ago value to $1.06.
For the fourth quarter of the fiscal year 2024, the company's revenue is projected to be between $970 million and $985 million, with non-GAAP EPS anticipated to fall between $0.97 and $1.04.
The consensus revenue estimate of $977.49 million for the fiscal fourth quarter (ended September 2024) represents a 3.4% increase year-over-year. The consensus EPS estimate of $1.01 for the same quarter indicates a 13.9% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past three and five years, HOLX's total assets grew at CAGRs of 1.2% and 6.4%, respectively. Also, the company's normalized net income and operation income (EBIT) have increased at a CAGR of 16.8% and 10.9%, respectively, over the past five years.
Shares of HOLX have gained 14.3% over the past year to close the last trading session at $79.22.
HOLX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
HOLX has a B grade for Growth and Quality. It is ranked #14 out of 134 stocks in the <a href="https://stocknews.com/category/medical-devices-equipment/">Medical - Devices &amp; Equipment</a> industry. <a href="https://stocknews.com/stock/HOLX/">Click here</a> to see the additional ratings for HOLX (Value, Momentum, Stability, and Sentiment).
 Stock #2: Avanos Medical, Inc. (<a href="https://stocknews.com/stock/AVNS/">AVNS</a>)
AVNS is a medical device company that focuses on delivering medical device solutions. The company conducts its business in one segment, which provides its medical device products to healthcare providers and patients globally with manufacturing facilities.
AVNS' net sales for the second quarter (ended June 30, 2024) increased marginally year-over-year to $171.70 million. Its non-GAAP operating profit from continuing operations grew 18.5% from the prior year's quarter to $21.80 million. The company's net income stood at $1.80 million compared to the prior-year quarter's loss of $68.10 million, while its EPS came in at $0.04 versus a loss of $1.46 per share last year.
In addition, AVNS' adjusted EBITDA from continuing operations rose 17% from the year-ago value to $26.80 million. Its free cash flow came in at $21.90 million compared to a year-ago net loss of $6.6 million.
As per the fiscal year 2024 outlook, AVNS forecasts revenue from continuing operations to range between $685 million and $705 million. The company also expects adjusted EPS from continuing operations between $1.30 and $1.45 and adjusted gross margins from continuing operations to fall in the range of 59.5%-60.5%.
Street expects AVNS' revenue for the fiscal third quarter (ended September 2024) to increase 2.4% year-over-year to $175.33 million. Its EPS for the same period is expected to register a 17.8% growth from the prior year, settling at $0.35. In addition, it surpassed the consensus revenue in each of the trailing four quarters, which is promising.
Moreover, AVNS' EBITDA and net income have grown at CAGRs of 32.7% and 47.5%, respectively, over the past three years. In addition, its EPS increased at 60.6% CAGR over the same time frame.
Over the past three months, the stock has surged 18.5%, closing the last trading session at $23.02.
It's no surprise that AVNS has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Growth and a B for Value. Out of 134 stocks in the same industry, AVNS is ranked #12.
Beyond what is stated above, we've also rated AVNS for Momentum, Stability, Sentiment, and Quality. Get all AVNS ratings <a href="https://stocknews.com/stock/AVNS/">here</a>.
Stock #1: Embecta Corp. (<a href="https://stocknews.com/stock/EMBC/">EMBC</a>)
EMBC is a global diabetes care company focusing on providing various solutions to enhance the health and well-being of people with diabetes. It has a portfolio of products that include pen needles, syringes, safety injection devices, and digital applications to assist people with managing patient's diabetes. 
On September 3, EMBC received clearance from the U.S. Food and Drug Administration (FDA) for its proprietary disposable insulin delivery system, required for adults who require insulin, both type 1 (T1D) and type 2 (T2D) diabetes, to be managed. This clearance aligns with the company's vision and focuses on developing a patch pump, addressing obstacles to adopting pump therapy for people who use insulin daily to manage their diabetes. 
For the third quarter of 2024, which ended on June 30, EMBC's revenue stood at $272.50 million. Its adjusted operating income grew 4.4% from the year-ago value to $83.30 million. Its adjusted net income for the quarter amounted to $43 million or $0.74 per share, representing an increase of 8% and 7.2%, respectively, from the same period last year. Also, the company reported an adjusted EBITDA of $99.20 million, indicating a 15.5% growth from the prior year's quarter.
The company has updated its fiscal year 2024 financial guidance, increasing its adjusted gross margin projection to a range of 65.25% to 65.50%, up from the previous estimate of 64.5% to 65%. Additionally, it adjusted its non-GAAP EPS guidance to a new range of $2.30 to $2.35, slightly higher than the prior forecast of $2.20 to $2.30.
Moreover, its adjusted EBITDA margin is expected to range between 31.25%-31.50%, an increase from the previous estimate of 31%-31.5%. Meanwhile, EMBC projects its revenue to fall in the range of $1.11 billion to $1.12 billion.
Analysts expect EMBC's revenue and EPS for the current year (ending September 2024) to be $1.11 billion and $2.39, respectively. For the fiscal year 2025, its revenue is expected to grow marginally from the prior year to $1.12 billion, and its EPS is projected to come in at $2.27.
Over the past year, EMBC's net income has increased at a CAGR of 47.7%, while its EPS grew at 45.3% CAGR.
EMBC shares have surged 10.1% over the past three months to close the last trading session at $13.29.
EMBC's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade for Value and Quality and a B for Growth. Within the Medical - Devices &amp; Equipment industry, it is ranked #3. <a href="https://stocknews.com/stock/EMBC/">Click here</a> to see EMBC's ratings for Momentum, Stability, and Sentiment.
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HOLX shares were trading at $79.88 per share on Friday morning, up $0.66 (+0.83%). Year-to-date, HOLX has gained 11.80%, versus a 20.77% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/holx-avns-embc-3-medical-device-stocks-with-strong-growth-prospects/>3 Medical Device Stocks With Strong Growth Prospects</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Medical Device Stocks With Strong Growth Prospects

Avanos Medical Non-GAAP EPS of $0.36 beats by $0.01, revenue of $170.4M misses by $4.93M

Avanos Medical Inc. (AVNS) Q3 2024 Earnings Call Transcript

Stifel lowered the firm's price target on Avanos (AVNS) to $20 from $24 and keeps a Hold rating on the shares after the company announced the retir...

Avanos price target lowered to $20 from $24 at Stifel

AVNS

EMBC

HOLX

Press Releases

Avanos Medical, Inc. to Webcast Conference Call Discussing First Quarter 2024 Financial Results

Avanos Medical, Inc. Announces First Quarter 2024 Results

Avanos Medical, Inc. Appoints Sig Delgado as Senior Vice President, Integrated Supply Chain

Avanos Medical, Inc. Appoints Indrani Franchini to Board of Directors

Avanos Medical, Inc. to Webcast Conference Call Discussing Second Quarter 2024 Financial Results

Avanos Medical, Inc. Announces Second Quarter 2024 Results

GAME READY® Announces Partnership with NFL Defensive End and 49ers Star Nick Bosa

Avanos Medical, Inc. to Present at the 2024 CL King Annual Best Ideas Conference

Avanos Medical, Inc. to Webcast Conference Call Discussing Third Quarter 2024 Financial Results

Avanos Medical, Inc. Announces Third Quarter 2024 Results, retirement of CEO

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Avanos Medical shares are trading lower after the company reported worse-than-expected Q3 revenue results. Also, the company announced the retirement of its CEO.

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