Avanos Medical, Inc. (NYSE:AVNS) Short Interest Up 25.7% in February

Avanos Medical, Inc. (NYSE:AVNS) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 888,700 shares, a growth of 25.7% from the February 13th total of 707,000 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 492,300 shares, the short-interest ratio is currently 1.8 days.

Avanos Medical Price Performance

Avanos Medical stock traded up $0.05 during mid-day trading on Tuesday, hitting $14.66. 514,822 shares of the company were exchanged, compared to its average volume of 285,343. The business has a fifty day moving average of $15.88 and a 200 day moving average of $18.91. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $674.59 million, a PE ratio of 43.13 and a beta of 1.17. Avanos Medical has a 1-year low of $14.25 and a 1-year high of $25.36.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $179.60 million for the quarter, compared to analysts’ expectations of $177.23 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. As a group, sell-side analysts expect that Avanos Medical will post 1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th.

Insider Buying and Selling

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.25, for a total transaction of $106,750.00. Following the completion of the sale, the senior vice president now directly owns 82,047 shares in the company, valued at $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avanos Medical

A number of hedge funds have recently modified their holdings of AVNS. Quarry LP acquired a new stake in shares of Avanos Medical during the third quarter worth about $42,000. Quantbot Technologies LP acquired a new stake in Avanos Medical in the 4th quarter valued at approximately $64,000. KBC Group NV raised its position in Avanos Medical by 63.0% in the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after buying an additional 1,095 shares during the last quarter. State of Wyoming grew its stake in Avanos Medical by 132.0% in the fourth quarter. State of Wyoming now owns 5,137 shares of the company’s stock valued at $82,000 after purchasing an additional 2,923 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Avanos Medical by 493.3% during the 4th 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 period. Institutional investors and hedge funds 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.