Avanos Medical (NYSE:AVNS) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Avanos Medical (NYSE:AVNS) from a strong-buy rating to a buy rating in a report published on Sunday morning.

Avanos Medical Price Performance

Shares of NYSE:AVNS opened at $19.81 on Friday. Avanos Medical has a 52 week low of $17.39 and a 52 week high of $25.36. The business has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $21.53. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The company has a market cap of $910.47 million, a P/E ratio of 58.26 and a beta of 0.92.

Institutional Investors Weigh In On Avanos Medical

Hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new stake in shares of Avanos Medical during the second quarter valued at approximately $70,000. EntryPoint Capital LLC raised its stake in Avanos Medical by 97.6% during the 1st quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock valued at $112,000 after acquiring an additional 2,766 shares in the last quarter. XTX Topco Ltd bought a new stake in Avanos Medical during the 2nd quarter valued at $202,000. Magnetar Financial LLC acquired a new position in Avanos Medical during the 2nd quarter worth $248,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Avanos Medical by 19.1% in the first quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock worth $259,000 after purchasing an additional 2,082 shares in the last quarter. 95.17% of the stock is currently 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.