ALPHARETTA, Ga. - Avanos Medical, Inc. (NYSE: NYSE:AVNS), a medical technology company, announced today the appointment of Sigfrido (Sig) Delgado as Senior Vice President of Integrated Supply Chain. Delgado is tasked with spearheading continuous improvements across the company's global supply chain operations.
Delgado brings over two decades of experience in the medical device industry to Avanos. Prior to his new role, he served as Vice President of the global medical technology business at Jabil Healthcare, which is recognized as the largest worldwide provider of healthcare manufacturing solutions. His career also includes significant tenures in manufacturing, supply chain, and operations at Johnson & Johnson (J&J), Ethicon, and Cordis Corp.
Joe Woody, Chief Executive Officer of Avanos, emphasized the importance of Delgado's role in the company's transformation process. "Sig's deep experience within the medical device industry will be critical to helping us achieve our goals," Woody stated, highlighting the company's focus on sales, inventory, and operations planning strategies.
Delgado's educational background includes a bachelor's degree in mechanical engineering from the Massachusetts Institute of Technology and a master's degree in engineering management from Florida International University. He is also a certified Six Sigma Black Belt and is fluent in Spanish, adding to his qualifications for the role.
Avanos Medical is dedicated to developing and marketing medical device solutions that prioritize clinical superiority and patient recovery, while also aiming to reduce opioid use. The company holds leading market positions in various product categories and operates globally.
The information for this report is based on a press release statement from Avanos Medical.
InvestingPro Insights
Amidst strategic hires and operational enhancements, Avanos Medical, Inc. (NYSE: AVNS) has been navigating a challenging market environment. With a current market capitalization of $845.09 million, the company is striving to improve its financial performance. An InvestingPro tip highlights that management has been aggressively buying back shares, a move often seen as a sign of confidence in the company's future prospects. Additionally, Avanos is expected to pivot towards profitability, with analysts predicting that the company will be profitable this year, which is a significant turnaround considering the company was not profitable over the last twelve months.
InvestingPro data reveals a Price to Earnings (P/E) Ratio of -14.54, indicating that investors are expecting higher earnings in the future. The company's commitment to operational efficiency is also reflected in its Gross Profit Margin, which stands at a robust 56.33% for the last twelve months as of Q1 2024. This suggests that Avanos is effectively managing its costs and could potentially translate to improved earnings going forward. Despite a slight revenue decline of 0.58% in the same period, the company has seen a quarterly revenue growth of 4.27% in Q1 2024, showing signs of recovery.
For investors interested in delving deeper into Avanos Medical's financial health and future prospects, InvestingPro offers additional tips and metrics. There are 8 more InvestingPro Tips available, including insights on shareholder yield, upcoming earnings revisions, and liquidity. Avanos Medical's next earnings date is scheduled for August 6, 2024, which will be a critical event for investors to assess the company's progress on its strategic goals. To access these insights and more, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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