Avanos Medical (NYSE:AVNS) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Avanos Medical (NYSE:AVNS) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Avanos Medical Trading Up 0.3 %

NYSE:AVNS opened at $19.73 on Friday. The company has a 50-day moving average price of $19.20 and a 200-day moving average price of $19.92. Avanos Medical has a 12 month low of $17.24 and a 12 month high of $26.56. The company has a current ratio of 2.28, a quick ratio of 1.47 and a debt-to-equity ratio of 0.14. The stock has a market cap of $905.61 million, a price-to-earnings ratio of -14.83 and a beta of 0.97.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $166.10 million during the quarter, compared to analysts’ expectations of $162.90 million. Avanos Medical had a positive return on equity of 4.10% and a negative net margin of 9.15%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Equities analysts predict that Avanos Medical will post 1.38 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael Greiner sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the transaction, the chief financial officer now owns 151,495 shares of the company’s stock, valued at $2,896,584.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.94% of the stock is currently owned by insiders.

Institutional Trading of Avanos Medical

Several institutional investors have recently made changes to their positions in the business. Kestrel Investment Management Corp purchased a new position in shares of Avanos Medical during the fourth quarter valued at about $3,265,000. Charles Schwab Investment Management Inc. boosted its stake in Avanos Medical by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 570,442 shares of the company’s stock valued at $11,534,000 after buying an additional 34,825 shares during the last quarter. Foundry Partners LLC grew its holdings in Avanos Medical by 74.6% during the 4th quarter. Foundry Partners LLC now owns 371,029 shares of the company’s stock valued at $8,322,000 after buying an additional 158,473 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Avanos Medical by 20.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 126,208 shares of the company’s stock valued at $2,552,000 after buying an additional 21,255 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Avanos Medical by 391.1% during the 3rd quarter. SG Americas Securities LLC now owns 26,306 shares of the company’s stock worth $532,000 after acquiring an additional 20,949 shares in 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.