Avanos Medical, Inc. (NYSE:AVNS) Short Interest Down 7.0% in September

Avanos Medical, Inc. (NYSE:AVNS) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 761,800 shares, a drop of 7.0% from the September 15th total of 819,500 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 222,000 shares, the short-interest ratio is presently 3.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVNS. Canada Pension Plan Investment Board purchased a new position in shares of Avanos Medical during the 2nd quarter worth about $70,000. EntryPoint Capital LLC lifted its holdings in shares of Avanos Medical by 97.6% during the 1st quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock worth $112,000 after acquiring an additional 2,766 shares during the period. XTX Topco Ltd purchased a new position in shares of Avanos Medical during the 2nd quarter worth about $202,000. Magnetar Financial LLC purchased a new position in shares of Avanos Medical during the 2nd quarter worth about $248,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Avanos Medical by 19.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock worth $259,000 after acquiring an additional 2,082 shares during the period. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Avanos Medical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Avanos Medical Price Performance

Shares of Avanos Medical stock traded up $0.37 on Thursday, hitting $23.29. The company’s stock had a trading volume of 62,269 shares, compared to its average volume of 238,036. Avanos Medical has a 52-week low of $17.24 and a 52-week high of $25.36. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $23.44 and a 200-day moving average price of $21.30. The company has a market capitalization of $1.07 billion, a P/E ratio of -17.23 and a beta of 0.91.

Avanos Medical (NYSE:AVNS) last released its earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $171.70 million for the quarter, compared to analyst estimates of $170.67 million. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, equities research analysts expect that Avanos Medical will post 1.39 earnings per share for the current fiscal year.

About Avanos Medical

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.