Avanos Medical (NYSE:AVNS) Reaches New 1-Year Low – What’s Next?

Shares of Avanos Medical, Inc. (NYSE:AVNS) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.09 and last traded at $12.11, with a volume of 82189 shares traded. The stock had previously closed at $12.41.

Wall Street Analyst Weigh In

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

Avanos Medical Stock Down 3.9 %

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 50 day simple moving average of $14.76 and a 200 day simple moving average of $17.37. The stock has a market cap of $548.77 million, a price-to-earnings ratio of 35.09 and a beta of 1.15.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $179.60 million during the quarter, compared to the consensus estimate of $177.23 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. As a group, analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kerr Holbrook sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.25, for a total value of $106,750.00. Following the transaction, the senior vice president now directly owns 82,047 shares of the company’s stock, valued at approximately $1,251,216.75. The trade was a 7.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Avanos Medical

A number of institutional investors and hedge funds have recently modified their holdings of AVNS. T. Rowe Price Investment Management Inc. grew its position in Avanos Medical by 27.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock worth $47,941,000 after buying an additional 644,267 shares in the last quarter. Tributary Capital Management LLC increased its position in shares of Avanos Medical by 38.1% in the fourth quarter. Tributary Capital Management LLC now owns 893,008 shares of the company’s stock worth $14,217,000 after purchasing an additional 246,379 shares during the last quarter. Brown Advisory Inc. raised its stake in Avanos Medical by 12.0% in the fourth quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company’s stock valued at $30,329,000 after purchasing an additional 204,218 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in Avanos Medical by 43.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 494,627 shares of the company’s stock valued at $7,874,000 after purchasing an additional 148,902 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Avanos Medical by 189.8% in the 4th quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company’s stock worth $3,210,000 after buying an additional 132,063 shares in the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.