Avanos Medical, Inc. (NYSE:AVNS) Sees Large Drop in Short Interest

Avanos Medical, Inc. (NYSE:AVNS) saw a large drop in short interest in April. As of April 30th, there was short interest totaling 1,211,005 shares, a drop of 39.6% from the April 15th total of 2,004,529 shares. Based on an average daily volume of 1,609,614 shares, the short-interest ratio is currently 0.8 days. Currently, 2.6% of the shares of the stock are sold short.

Avanos Medical Trading Down 0.0%

Shares of AVNS traded down $0.01 during midday trading on Tuesday, hitting $24.74. The stock had a trading volume of 217,828 shares, compared to its average volume of 1,050,201. Avanos Medical has a fifty-two week low of $9.30 and a fifty-two week high of $24.91. The business has a 50-day simple moving average of $18.75 and a two-hundred day simple moving average of $14.66. The firm has a market cap of $1.16 billion, a P/E ratio of -15.36 and a beta of 1.58. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11.

Avanos Medical (NYSE:AVNS) last announced its earnings results on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The company had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $170.00 million. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that Avanos Medical will post 1.07 EPS for the current year.

Institutional Trading of Avanos Medical

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Avanos Medical by 132.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock worth $28,000 after purchasing an additional 1,423 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Avanos Medical by 49.7% during the third quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock worth $31,000 after purchasing an additional 894 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Avanos Medical by 969.3% during the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after purchasing an additional 2,307 shares during the period. Wexford Capital LP acquired a new stake in shares of Avanos Medical during the third quarter worth approximately $70,000. Finally, Tower Research Capital LLC TRC boosted 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 period. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on AVNS. Zacks Research lowered shares of Avanos Medical from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings upgraded shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Avanos Medical presently has a consensus rating of “Sell”.

About Avanos Medical

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.