Moore Capital Management LP Makes New $590,000 Investment in Avanos Medical, Inc. (NYSE:AVNS)

Moore Capital Management LP bought a new position in Avanos Medical, Inc. (NYSE:AVNS) during the 4th quarter, HoldingsChannel.com reports. The fund bought 37,070 shares of the company’s stock, valued at approximately $590,000.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC increased its position in Avanos Medical by 446.2% in the 3rd quarter. Barclays PLC now owns 96,194 shares of the company’s stock worth $2,311,000 after purchasing an additional 78,583 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Avanos Medical by 15.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 128,567 shares of the company’s stock valued at $2,047,000 after acquiring an additional 17,504 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Avanos Medical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company’s stock valued at $85,009,000 after acquiring an additional 19,476 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Avanos Medical by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,571 shares of the company’s stock valued at $1,672,000 after acquiring an additional 4,472 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Avanos Medical by 141.3% during the 4th quarter. Empowered Funds LLC now owns 153,834 shares of the company’s stock valued at $2,449,000 after acquiring an additional 90,091 shares during the last quarter. 95.17% of the stock is owned by institutional investors and hedge funds.

Avanos Medical Stock Performance

Shares of NYSE AVNS opened at $12.75 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22. The firm has a market cap of $589.61 million, a price-to-earnings ratio of 37.50 and a beta of 1.13. The business’s 50-day simple moving average is $13.38 and its 200-day simple moving average is $15.92. Avanos Medical, Inc. has a 52 week low of $11.84 and a 52 week high of $25.36.

Avanos Medical (NYSE:AVNS) last announced its earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $161.75 million. During the same quarter in the prior year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Insider Activity at Avanos Medical

In related news, SVP Kerr Holbrook sold 7,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 82,047 shares in the company, valued at $1,251,216.75. This represents a 7.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th.

Avanos Medical Company Profile

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.