SummerHaven Investment Management LLC Acquires New Position in Avanos Medical, Inc. $AVNS

SummerHaven Investment Management LLC purchased a new stake in shares of Avanos Medical, Inc. (NYSE:AVNS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 69,452 shares of the company’s stock, valued at approximately $803,000. SummerHaven Investment Management LLC owned approximately 0.15% of Avanos Medical at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in Avanos Medical by 49.7% in the 3rd quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock worth $31,000 after buying an additional 894 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Avanos Medical by 969.3% in the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after acquiring an additional 2,307 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Avanos Medical by 433.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock worth $77,000 after purchasing an additional 5,083 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Avanos Medical during the second quarter worth $126,000. Finally, Inscription Capital LLC acquired a new position in Avanos Medical during the third quarter valued at $135,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Avanos Medical Trading Down 2.1%

Shares of NYSE:AVNS opened at $12.88 on Thursday. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $17.69. The firm has a market capitalization of $597.70 million, a price-to-earnings ratio of -1.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.38 and a quick ratio of 1.36. The business’s 50 day moving average price is $11.82 and its 200-day moving average price is $11.64.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. Avanos Medical had a negative net margin of 67.00% and a positive return on equity of 6.21%. The company had revenue of $177.80 million during the quarter, compared to analysts’ expectations of $164.50 million. During the same period in the prior year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Avanos Medical has set its FY 2025 guidance at 0.850-0.950 EPS. On average, equities research analysts forecast that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVNS. Wall Street Zen upgraded Avanos Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, December 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Insider Transactions at Avanos Medical

In related news, SVP Kerr Holbrook sold 15,000 shares of Avanos Medical stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $11.00, for a total value of $165,000.00. Following the sale, the senior vice president directly owned 83,860 shares in the company, valued at approximately $922,460. The trade was a 15.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.64% of the company’s stock.

Avanos Medical Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.