Avanos Medical (NYSE:AVNS) Hits New 12-Month High at $24.89

Avanos Medical, Inc. (NYSE:AVNS)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $24.89 and last traded at $24.81, with a volume of 23208 shares trading hands. The stock had previously closed at $24.20.

Avanos Medical Price Performance

The stock has a 50 day moving average of $23.19 and a two-hundred day moving average of $20.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 2.28. The stock has a market cap of $1.13 billion, a PE ratio of -18.50 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 for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $171.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Equities analysts anticipate that Avanos Medical, Inc. will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Avanos Medical by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,137 shares of the company’s stock valued at $341,000 after buying an additional 590 shares during the period. First National Bank of Omaha boosted its position in Avanos Medical by 4.5% during the fourth quarter. First National Bank of Omaha now owns 29,956 shares of the company’s stock valued at $672,000 after purchasing an additional 1,285 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Avanos Medical by 8.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 19,053 shares of the company’s stock valued at $379,000 after purchasing an additional 1,516 shares in the last quarter. Pitcairn Co. grew its stake in Avanos Medical by 11.2% in the first quarter. Pitcairn Co. now owns 15,940 shares of the company’s stock valued at $317,000 after purchasing an additional 1,606 shares in the last quarter. Finally, Caxton Associates LP increased its position in Avanos Medical by 13.6% in the 2nd quarter. Caxton Associates LP now owns 17,035 shares of the company’s stock worth $339,000 after purchasing an additional 2,034 shares during the last quarter. 95.17% of the stock is owned by institutional investors and hedge funds.

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.