Lazard Asset Management LLC Has $3.96 Million Position in Avanos Medical, Inc. $AVNS

Lazard Asset Management LLC grew its position in Avanos Medical, Inc. (NYSE:AVNS) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,642 shares of the company’s stock after acquiring an additional 30,954 shares during the period. Lazard Asset Management LLC’s holdings in Avanos Medical were worth $3,960,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Avanos Medical by 132.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock valued at $28,000 after purchasing an additional 1,423 shares during the period. Russell Investments Group Ltd. grew its holdings in 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 position in Avanos Medical during the third quarter worth approximately $70,000. Tower Research Capital LLC TRC raised its stake in Avanos Medical by 433.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock valued at $77,000 after buying an additional 5,083 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Avanos Medical by 15.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company’s stock valued at $89,000 after buying an additional 846 shares during the period. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on AVNS shares. Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Wall Street Zen lowered Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, July 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Avanos Medical Stock Performance

Shares of AVNS stock opened at $24.99 on Friday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.52 and a beta of 1.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.48. The company has a 50-day simple moving average of $24.94 and a 200 day simple moving average of $19.71. Avanos Medical, Inc. has a 52 week low of $9.30 and a 52 week high of $25.49.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $170.00 million. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts predict that Avanos Medical, Inc. will post 1.06 earnings per share for the current year.

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.