Texas Permanent School Fund Corp Cuts Stock Position in Avanos Medical, Inc. $AVNS

Texas Permanent School Fund Corp trimmed its position in shares of Avanos Medical, Inc. (NYSE:AVNS) by 71.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,821 shares of the company’s stock after selling 59,945 shares during the period. Texas Permanent School Fund Corp owned about 0.05% of Avanos Medical worth $292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AVNS. Armistice Capital LLC bought a new position in Avanos Medical during the first quarter valued at approximately $28,660,000. Millennium Management LLC grew its holdings in shares of Avanos Medical by 508.3% during the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock valued at $7,849,000 after purchasing an additional 457,703 shares during the last quarter. AQR Capital Management LLC raised its position in Avanos Medical by 190.4% in the 2nd quarter. AQR Capital Management LLC now owns 560,052 shares of the company’s stock worth $6,855,000 after purchasing an additional 367,188 shares during the period. Acadian Asset Management LLC purchased a new position in Avanos Medical in the 2nd quarter worth $3,212,000. Finally, Lazard Asset Management LLC lifted its stake in Avanos Medical by 3,689.1% in the second quarter. Lazard Asset Management LLC now owns 237,615 shares of the company’s stock worth $2,908,000 after purchasing an additional 231,344 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AVNS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday. Wall Street Zen upgraded Avanos Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research cut Avanos Medical from a “hold” rating to a “strong sell” rating in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Avanos Medical Stock Up 0.2%

Shares of NYSE:AVNS opened at $11.43 on Friday. The stock’s 50-day moving average is $11.50 and its 200 day moving average is $11.66. The company has a market cap of $530.39 million, a PE ratio of -1.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.38 and a quick ratio of 1.36. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $17.69.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.10. Avanos Medical had a positive return on equity of 6.21% and a negative net margin of 67.00%.The business had revenue of $177.80 million during the quarter, compared to analysts’ expectations of $164.50 million. During the same quarter last year, the business posted $0.33 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Avanos Medical has set its FY 2025 guidance at 0.850-0.950 EPS. Sell-side analysts anticipate that Avanos Medical, Inc. will post 1.32 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Kerr Holbrook sold 15,000 shares of Avanos Medical stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $11.00, for a total value of $165,000.00. Following the sale, the senior vice president owned 83,860 shares in the company, valued at $922,460. The trade was a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.64% of the stock is currently owned by company insiders.

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.