Magnetar Financial LLC Makes New Investment in Avanos Medical, Inc. (NYSE:AVNS)

Magnetar Financial LLC purchased a new position in shares of Avanos Medical, Inc. (NYSE:AVNS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,437 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds have also recently made changes to their positions in AVNS. Canada Pension Plan Investment Board bought a new position in shares of Avanos Medical during the 2nd quarter valued at $70,000. EntryPoint Capital LLC grew its stake in shares of Avanos Medical by 97.6% during the first quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock valued at $112,000 after buying an additional 2,766 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Avanos Medical in the second quarter worth about $202,000. Janney Montgomery Scott LLC lifted its stake in shares of Avanos Medical by 19.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock valued at $259,000 after acquiring an additional 2,082 shares during the last quarter. Finally, Pitcairn Co. boosted its holdings in Avanos Medical by 11.2% during the 1st quarter. Pitcairn Co. now owns 15,940 shares of the company’s stock valued at $317,000 after acquiring an additional 1,606 shares during the period. 95.17% of the stock is currently owned by institutional investors.

Avanos Medical Price Performance

Shares of Avanos Medical stock opened at $23.39 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.28 and a quick ratio of 1.49. Avanos Medical, Inc. has a one year low of $17.24 and a one year high of $25.36. The business’s 50 day simple moving average is $23.43 and its two-hundred day simple moving average is $20.94. The stock has a market capitalization of $1.07 billion, a P/E ratio of -17.59 and a beta of 0.91.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $171.70 million during the quarter, compared to analyst estimates of $170.67 million. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Analysts forecast that Avanos Medical, Inc. will post 1.39 EPS for the current year.

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.