Core Viewpoint - Avanos Medical, Inc. has received confirmation from the Centers for Medicare and Medicaid Services (CMS) regarding the inclusion of its ON-Q and ambIT infusion pumps under the Non-Opioids Prevent Addiction in the Nation (NOPAIN) Act, allowing for separate Medicare reimbursement starting January 1, 2025 [1][3][6]. Group 1: NOPAIN Act Implementation - The NOPAIN Act, part of the Consolidated Appropriation Act of 2023, aims to enhance patient access to non-opioid pain management solutions by providing additional Medicare reimbursement for qualifying non-opioid drugs and devices [2]. - CMS has confirmed that the ON-Q and ambIT infusion pumps meet the qualifying requirements for separate payment under the NOPAIN Act, marking a significant milestone for Avanos Medical [3][4]. - The payment limitation for both the ON-Q and ambIT infusion systems is set at up to $2,284.98, with unique HCPCS codes assigned for claim submissions starting January 1, 2025 [5]. Group 2: Impact on Pain Management - The NOPAIN Act mandates separate payment for qualified non-opioid treatments through December 31, 2027, when provided with a covered surgical procedure, aiming to reduce opioid reliance in postoperative care [6]. - The ON-Q and ambIT devices are the first and only infusion pain pumps included under this policy, which is part of a broader strategy by CMS to combat the opioid crisis [6]. - Avanos Medical's interim CEO highlighted the effectiveness of the ON-Q and ambIT pumps in reducing opioid use post-surgery, supported by clinical trials and peer-reviewed data [7].

Core Insights - Avanos Medical, Inc. has launched the CORGRIP SR Nasogastric/Nasointestinal Tube Retention System, enhancing its Enteral Feeding portfolio [1][2] - The new system is designed to reduce the risk of dislodgement and complications associated with nasal tube replacement, offering advantages over traditional tape methods [2][3] Product Features - The CORGRIP SR system features a monofilament thread and includes a yellow tipped retrieval catheter with a hollow tip, color-coded clips, printed centimeter markings, and a unique orange opening tool [2] - Research indicates that 40%-63% of feeding tubes secured with tape can become inadvertently dislodged, while using a bridle significantly reduces this incidence [3] Company Overview - Avanos Medical is a medical technology company headquartered in Alpharetta, Georgia, focused on delivering clinically superior solutions for patient care [4] - The company aims to address critical healthcare needs, including providing nutrition to patients and reducing opioid use during recovery [4]

Core Viewpoint - Avanos Medical, Inc. reported a mixed performance in Q3 2024, with adjusted EPS showing a year-over-year increase, but revenues declining slightly, indicating challenges in certain product lines while maintaining strength in others [1][2][12]. Financial Performance - Adjusted EPS from continuing operations was 36 cents, a 20% increase year over year, meeting the Zacks Consensus Estimate [1] - Revenues totaled $170.4 million, down 0.5% year over year, missing the Zacks Consensus Estimate by 2.7% [2] - Organic sales increased by 1.1% year over year [2]. Segment Analysis - Pain Management and Recovery segment reported net revenues of $72.2 million, a decrease of 5.4% year over year [6] - Digestive Health segment saw net revenues of $98.2 million, improving by 3.4% year over year, with organic growth of almost 3% [6][7]. Margin Analysis - Gross profit fell by 2.7% to $92.9 million, with gross margin contracting by 130 basis points to 54.5% [8] - Selling and general expenses decreased by 5.6% to $74.3 million, while research and development expenses increased by 18% year over year to $7.2 million [8]. Financial Update - Cash and cash equivalents at the end of Q3 were $89 million, down from $92.2 million at the end of Q2 [10] - Total debt decreased to $162 million from $175.1 million at the end of Q2 [10]. Guidance - The company expects net sales for the full year 2024 to be in the range of $683-$688 million, below the Zacks Consensus Estimate of $695.1 million [11] - Adjusted EPS for 2024 is anticipated to be between $1.30 and $1.45, with the Zacks Consensus Estimate at $1.39 [11]. Market Performance - Avanos shares have declined by 17.1% year to date, contrasting with the industry growth of 5.4% and the S&P 500 Index gain of 22.5% [4].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-36440 AVANOS MEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 46-4987888 (Sta ...

Avanos Medical Inc. (NYSE:AVNS) Q3 2024 Results Conference Call October 30, 2024 9:00 AM ET Company Participants Scott Galovan - Vice President of Strategy & Corporate Development Gary Blackford - Chairman Michael Greiner - Senior VP, CFO & Chief Transformation Officer Conference Call Participants Kristen Stewart - CL King Danny Stauder - Citizens JMP Operator Good morning, ladies and gentlemen, and welcome to the Avanos Medical, Avanos Third Quarter 2024 Earnings Call. [Operator Instructions] This call is ...

Avanos Medical (AVNS) came out with quarterly earnings of $0.36 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this medical technology company would post earnings of $0.29 per share when it actually produced earnings of $0.34, delivering a surprise of 17.24%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Avanos Med ...

AVANOS Investor Contact: Michael Greiner Avanos Medical, Inc. 470-562-2692 Investor.Relations@Avanos.com Media Contact: Katrine Kubis Avanos Medical, Inc. CorporateCommunications@Avanos.com Avanos Medical, Inc. Announces Third Quarter 2024 Results, retirement of CEO ALPHARETTA, Ga., October 30, 2024/PRNewswire/ -- Avanos Medical, Inc. (NYSE: AVNS) today reported third quarter 2024 financial results and announced the retirement of its CEO, Joe Woody. Gary Blackford, Avanos Board Chairman, noted "Joe has deci ...

ALPHARETTA, Ga., Oct. 30, 2024 /PRNewswire/ -- Avanos Medical, Inc. (NYSE: AVNS) today reported third quarter 2024 financial results and announced the retirement of its CEO, Joe Woody. Gary Blackford, Avanos Board Chairman, noted, "Joe has decided to retire after leading Avanos for the past seven years. Joe has agreed to assist the Company in the transition of leadership, and will continue to consult with the Company through April of next year. Avanos is better positioned financially and organizationally to ...

ALPHARETTA, Ga., Oct. 23, 2024 /PRNewswire/ -- Avanos Medical, Inc. (NYSE: AVNS) will webcast its conference call discussing financial results and business highlights for the third quarter 2024 on Wednesday, Oct. 30 at 9 a.m., ET. The company will issue a news release detailing its results before the market opens that same day.The conference call will be hosted by Joe Woody, chief executive officer, and Michael Greiner, senior vice president, chief financial officer, and chief transformation officer.To join ...

Avanos Medical (AVNS) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Si ...