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

Shares of Avanos Medical, Inc. (NYSE:AVNS) reached a new 52-week low on Tuesday . The company traded as low as $14.24 and last traded at $14.27, with a volume of 189699 shares changing hands. The stock had previously closed at $14.40.

Wall Street Analysts Forecast Growth

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

Avanos Medical Stock Performance

The company’s 50 day moving average price is $15.73 and its 200-day moving average price is $18.48. The stock has a market cap of $658.62 million, a P/E ratio of 42.11 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.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Wednesday, February 26th. The company reported $0.43 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 firm had revenue of $179.60 million for the quarter, compared to analysts’ expectations of $177.23 million. Equities analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $15.25, for a total transaction of $106,750.00. Following the completion of the sale, the senior vice president now owns 82,047 shares in the company, valued at $1,251,216.75. This trade represents a 7.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors and hedge funds have recently bought and sold shares of AVNS. T. Rowe Price Investment Management Inc. increased its holdings in Avanos Medical by 27.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock worth $47,941,000 after acquiring an additional 644,267 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Avanos Medical by 38.1% in the fourth quarter. Tributary Capital Management LLC now owns 893,008 shares of the company’s stock worth $14,217,000 after purchasing an additional 246,379 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Avanos Medical by 12.0% in the fourth quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company’s stock valued at $30,329,000 after purchasing an additional 204,218 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Avanos Medical by 43.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 494,627 shares of the company’s stock valued at $7,874,000 after buying an additional 148,902 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Avanos Medical by 189.8% during the 4th quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company’s stock valued at $3,210,000 after buying an additional 132,063 shares in the last quarter. 95.17% of the stock is owned by institutional investors.

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.