Avanos Medical (NYSE:AVNS) Sets New 12-Month Low – Here’s Why

Avanos Medical, Inc. (NYSE:AVNS)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.24 and last traded at $14.27, with a volume of 189699 shares traded. The stock had previously closed at $14.40.

Analysts Set New Price Targets

Separately, StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th.

Avanos Medical Trading Down 1.7 %

The stock has a market cap of $651.40 million, a P/E ratio of 41.65 and a beta of 1.17. The stock’s 50-day moving average is $15.80 and its two-hundred day moving average is $18.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46.

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

Insider Transactions at Avanos Medical

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

Hedge Funds Weigh In On Avanos Medical

Several large investors have recently modified their holdings of the stock. Natixis Advisors LLC boosted its stake in Avanos Medical by 13.6% during the third quarter. Natixis Advisors LLC now owns 21,452 shares of the company’s stock worth $515,000 after buying an additional 2,574 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 worth $1,097,000 after acquiring an additional 16,929 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Avanos Medical during the 3rd quarter worth about $207,000. The Manufacturers Life Insurance Company grew its holdings in Avanos Medical by 34.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,996 shares of the company’s stock valued at $553,000 after purchasing an additional 5,859 shares during the last quarter. Finally, FMR LLC raised its position in Avanos Medical by 34.6% in the 3rd quarter. FMR LLC now owns 133,844 shares of the company’s stock worth $3,216,000 after purchasing an additional 34,421 shares during the period. 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.