Avanos Medical (NYSE:AVNS) Sets New 52-Week Low – Here’s What Happened

Avanos Medical, Inc. (NYSE:AVNS)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $13.87 and last traded at $14.30, with a volume of 165012 shares traded. The stock had previously closed at $13.95.

Analyst Upgrades and Downgrades

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

Avanos Medical Trading Up 2.8 %

The stock has a market cap of $659.45 million, a PE ratio of 42.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22. The business has a 50-day moving average of $15.66 and a 200 day moving average of $18.31.

Avanos Medical (NYSE:AVNS) last released 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 net margin of 2.30% and a return on equity of 4.70%. The company had revenue of $179.60 million during the quarter, compared to analyst estimates of $177.23 million. Equities research analysts predict that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling at Avanos Medical

In other news, SVP Kerr Holbrook sold 7,000 shares of the company’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 sale, the senior vice president now directly owns 82,047 shares of the company’s stock, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.64% of the stock is currently owned by insiders.

Institutional Trading of Avanos Medical

A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its position in Avanos Medical by 34.6% in the third quarter. FMR LLC now owns 133,844 shares of the company’s stock worth $3,216,000 after acquiring an additional 34,421 shares in the last quarter. Barclays PLC grew its holdings in Avanos Medical by 446.2% during the third quarter. Barclays PLC now owns 96,194 shares of the company’s stock valued at $2,311,000 after purchasing an additional 78,583 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Avanos Medical by 12.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 108,470 shares of the company’s stock valued at $2,607,000 after purchasing an additional 11,613 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Avanos Medical by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 69,571 shares of the company’s stock worth $1,672,000 after buying an additional 4,472 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in Avanos Medical by 35.8% in the 3rd quarter. Jane Street Group LLC now owns 65,650 shares of the company’s stock worth $1,578,000 after acquiring an additional 17,306 shares during the period. 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.