Avanos Medical (NYSE:AVNS) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Avanos Medical (NYSE:AVNS) from a buy rating to a hold rating in a report released on Tuesday morning.

Avanos Medical Stock Performance

NYSE AVNS opened at $14.43 on Tuesday. The company’s 50 day moving average is $15.92 and its 200-day moving average is $19.11. Avanos Medical has a 12-month low of $14.25 and a 12-month high of $25.36. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The firm has a market cap of $663.82 million, a P/E ratio of 42.44 and a beta of 1.17.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $177.23 million. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. Sell-side analysts predict that Avanos Medical will post 1.32 earnings per share for the current year.

Insiders Place Their Bets

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $15.25, for a total value of $106,750.00. Following the completion of the transaction, the senior vice president now owns 82,047 shares of the company’s stock, valued at $1,251,216.75. The trade was a 7.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in shares of Avanos Medical by 194.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company’s stock valued at $863,000 after purchasing an additional 23,714 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Avanos Medical in the 3rd quarter valued at $368,000. KBC Group NV boosted its stake in shares of Avanos Medical by 63.0% in the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after purchasing an additional 1,095 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Avanos Medical by 13.6% in the 3rd quarter. Natixis Advisors LLC now owns 21,452 shares of the company’s stock valued at $515,000 after purchasing an additional 2,574 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Avanos Medical by 58.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,668 shares of the company’s stock valued at $1,097,000 after purchasing an additional 16,929 shares in the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Avanos Medical Company Profile

Avanos Medical, Inc, a medical technology company, offers medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.