Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Declines By 6.4%

Avanos Medical, Inc. (NYSE:AVNS) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 681,400 shares, a drop of 6.4% from the December 15th total of 727,700 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 349,300 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Ratings Changes

Separately, StockNews.com lowered Avanos Medical from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd.

Institutional Trading of Avanos Medical

A number of hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Avanos Medical during the 3rd quarter worth about $42,000. KBC Group NV grew its position in Avanos Medical by 63.0% during the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after buying an additional 1,095 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Avanos Medical during the second quarter valued at about $70,000. XTX Topco Ltd acquired a new position in Avanos Medical in the 2nd quarter valued at approximately $202,000. Finally, Intech Investment Management LLC bought a new stake in shares of Avanos Medical in the 3rd quarter worth approximately $207,000. 95.17% of the stock is owned by institutional investors.

Avanos Medical Stock Performance

Shares of AVNS stock traded down $0.11 during trading hours on Friday, reaching $15.94. 290,991 shares of the company’s stock were exchanged, compared to its average volume of 429,124. Avanos Medical has a fifty-two week low of $14.98 and a fifty-two week high of $25.36. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $732.60 million, a P/E ratio of 46.88 and a beta of 0.99. The business has a fifty day moving average price of $17.42 and a 200-day moving average price of $20.79.

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.