Se você adicionar uma declaração XML e colocar os dois elementos device
em um elemento de nível superior, poderá processar seu arquivo com XPath:
$ cat ./248127.xml
<device id='10.72.48.215'>
<address>10.72.48.215</address>
<status>old</status>
<fqdns>10.72.48.215</fqdns>
<parent></parent>
<type>Unknown</type>
<ports>
</ports>
<operatingsystems>
</operatingsystems>
</device>
<device id='10.72.48.216'>
<address>10.72.48.216</address>
<status>new</status>
<fqdns>10.72.48.216</fqdns>
<parent></parent>
<type>Unknown</type>
<ports>
</ports>
<operatingsystems>
</operatingsystems>
</device>
$ ( echo '<?xml version="1.0"?><doc>'; cat ./248127.xml ; echo '</doc>' ) \
| xpath -q -e '//device[status/text()="new"]/fqdns'
<fqdns>10.72.48.216</fqdns>