Avanos Medical (NYSE:AVNS) Sets New 1-Year Low – Time to Sell?

Avanos Medical, Inc. (NYSE:AVNS)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $15.51 and last traded at $15.68, with a volume of 21611 shares. The stock had previously closed at $15.92.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd.

Avanos Medical Stock Performance

The stock has a market cap of $731.64 million, a price-to-earnings ratio of 46.82 and a beta of 0.95. The company’s 50-day simple moving average is $18.72 and its 200-day simple moving average is $21.13. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Avanos Medical

Institutional investors and hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC raised its holdings in Avanos Medical by 19.5% during the 2nd quarter. Natixis Advisors LLC now owns 18,878 shares of the company’s stock worth $376,000 after buying an additional 3,077 shares during the period. Quest Partners LLC acquired a new stake in shares of Avanos Medical during the second quarter valued at approximately $444,000. American Century Companies Inc. lifted its position in shares of Avanos Medical by 12.1% in the 2nd quarter. American Century Companies Inc. now owns 82,930 shares of the company’s stock valued at $1,652,000 after acquiring an additional 8,929 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Avanos Medical in the 2nd quarter worth approximately $1,077,000. Finally, Federated Hermes Inc. grew its position in Avanos Medical by 4.2% during the 2nd quarter. Federated Hermes Inc. now owns 97,097 shares of the company’s stock worth $1,934,000 after purchasing an additional 3,938 shares in 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.