Louisiana State Employees Retirement System Takes $525,000 Position in Avanos Medical, Inc. (NYSE:AVNS)

Louisiana State Employees Retirement System acquired a new position in Avanos Medical, Inc. (NYSE:AVNS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,400 shares of the company’s stock, valued at approximately $525,000. Louisiana State Employees Retirement System owned about 0.05% of Avanos Medical at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in Avanos Medical during the third quarter valued at about $30,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Avanos Medical by 52.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,627 shares of the company’s stock worth $195,000 after acquiring an additional 3,330 shares in the last quarter. Fulton Bank N.A. bought a new stake in Avanos Medical during the 4th quarter worth approximately $228,000. Quantbot Technologies LP bought a new stake in Avanos Medical during the 3rd quarter worth approximately $237,000. Finally, Quadrature Capital Ltd purchased a new position in Avanos Medical during the third quarter valued at approximately $281,000. 95.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Avanos Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th.

Avanos Medical Stock Performance

NYSE AVNS opened at $18.62 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.08 and a debt-to-equity ratio of 0.13. Avanos Medical, Inc. has a twelve month low of $17.24 and a twelve month high of $30.26. The business has a 50-day moving average price of $19.23 and a 200-day moving average price of $19.90. The firm has a market cap of $860.07 million, a price-to-earnings ratio of -14.10 and a beta of 0.96.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Avanos Medical had a positive return on equity of 4.25% and a negative net margin of 8.76%. The business had revenue of $173.30 million during the quarter, compared to analysts’ expectations of $170.43 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts predict that Avanos Medical, Inc. will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of Avanos Medical stock in a transaction 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 sale, the chief financial officer now directly owns 151,495 shares in the company, valued at approximately $2,896,584.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by company insiders.

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.