Avanos Medical (NYSE:AVNS) Stock Rating Lowered by StockNews.com

Avanos Medical (NYSE:AVNS) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Avanos Medical Stock Down 0.1 %

NYSE:AVNS traded down $0.02 during mid-day trading on Friday, hitting $19.69. The company had a trading volume of 245,744 shares, compared to its average volume of 278,542. The business has a fifty day simple moving average of $19.19 and a 200-day simple moving average of $19.90. The firm has a market capitalization of $909.68 million, a price-to-earnings ratio of -14.92 and a beta of 0.97. Avanos Medical has a 1 year low of $17.24 and a 1 year high of $26.56. The company has a current ratio of 2.08, a quick ratio of 1.38 and a debt-to-equity ratio of 0.13.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $173.30 million for the quarter, compared to analyst estimates of $170.43 million. Avanos Medical had a negative net margin of 8.76% and a positive return on equity of 4.25%. Avanos Medical’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Equities analysts forecast that Avanos Medical will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael Greiner sold 8,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the transaction, the chief financial officer now directly owns 151,495 shares in the company, valued at approximately $2,896,584.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

Several hedge funds and other institutional investors have recently made changes to their positions in AVNS. Kestrel Investment Management Corp bought a new position in shares of Avanos Medical in the fourth quarter valued at approximately $3,265,000. Charles Schwab Investment Management Inc. increased its position in shares of Avanos Medical by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,442 shares of the company’s stock valued at $11,534,000 after purchasing an additional 34,825 shares during the period. Foundry Partners LLC increased its position in shares of Avanos Medical by 74.6% during the 4th quarter. Foundry Partners LLC now owns 371,029 shares of the company’s stock valued at $8,322,000 after purchasing an additional 158,473 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Avanos Medical by 20.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 126,208 shares of the company’s stock worth $2,552,000 after buying an additional 21,255 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Avanos Medical by 391.1% in the third quarter. SG Americas Securities LLC now owns 26,306 shares of the company’s stock valued at $532,000 after buying an additional 20,949 shares during the period. 95.17% of the stock is currently owned by institutional investors and hedge funds.

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.