Avanos Medical (NYSE:AVNS) Shares Down 6.3% – What’s Next?

Shares of Avanos Medical, Inc. (NYSE:AVNS) traded down 6.3% during trading on Tuesday . The stock traded as low as $15.53 and last traded at $15.52. 155,285 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 544,062 shares. The stock had previously closed at $16.57.

Analyst Upgrades and Downgrades

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 company’s fifty day moving average price is $16.45 and its 200 day moving average price is $20.05. The company has a market cap of $714.63 million, a PE ratio of 45.73 and a beta of 0.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46.

Institutional Trading of Avanos Medical

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Avanos Medical by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company’s stock worth $85,009,000 after buying an additional 19,476 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Avanos Medical by 27.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock worth $47,941,000 after buying an additional 644,267 shares during the last quarter. Brown Advisory Inc. increased its holdings in Avanos Medical by 12.0% during the fourth quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company’s stock worth $30,329,000 after buying an additional 204,218 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Avanos Medical by 2.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,406,210 shares of the company’s stock worth $22,387,000 after buying an additional 28,608 shares during the last quarter. Finally, Paradice Investment Management LLC increased its holdings in Avanos Medical by 2.5% during the fourth quarter. Paradice Investment Management LLC now owns 1,293,198 shares of the company’s stock worth $20,588,000 after buying an additional 30,949 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

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.