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

Avanos Medical, Inc. (NYSE:AVNS) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,900,000 shares, anincreaseof25.8% from the July 15th total of 1,510,000 shares. Based on an average daily volume of 491,900 shares, the short-interest ratio is presently 3.9 days. Currently,4.2% of the company’s stock are short sold. Currently,4.2% of the company’s stock are short sold. Based on an average daily volume of 491,900 shares, the short-interest ratio is presently 3.9 days.

Avanos Medical Stock Performance

Shares of NYSE AVNS opened at $11.6890 on Friday. The company has a market cap of $542.37 million, a PE ratio of -1.16 and a beta of 1.12. Avanos Medical has a 12 month low of $9.30 and a 12 month high of $25.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.58. The company has a 50-day simple moving average of $11.66 and a 200-day simple moving average of $13.02.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $165.50 million. Avanos Medical had a positive return on equity of 6.16% and a negative net margin of 66.89%.During the same quarter last year, the firm earned $0.34 earnings per share. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. On average, equities analysts anticipate that Avanos Medical will post 1.32 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on AVNS shares. Wall Street Zen cut shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of Avanos Medical to a “hold” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Insider Activity at Avanos Medical

In other news, Director Gary Blackford acquired 40,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $10.99 per share, with a total value of $439,600.00. Following the transaction, the director owned 40,000 shares in the company, valued at approximately $439,600. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Avanos Medical

Several hedge funds have recently modified their holdings of AVNS. Russell Investments Group Ltd. boosted its position 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 last quarter. Tower Research Capital LLC TRC boosted its position in shares of Avanos Medical by 433.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock worth $77,000 after acquiring an additional 5,083 shares during the last quarter. State of Wyoming boosted its position in shares of Avanos Medical by 132.0% in the fourth quarter. State of Wyoming now owns 5,137 shares of the company’s stock worth $82,000 after acquiring an additional 2,923 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Avanos Medical in the second quarter worth approximately $126,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Avanos Medical by 493.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock worth $129,000 after acquiring an additional 6,714 shares during 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.