Bridgeway Capital Management LLC Raises Stake in Avanos Medical, Inc. (NYSE:AVNS)

Bridgeway Capital Management LLC grew its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 87.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 273,251 shares of the company’s stock after buying an additional 127,591 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Avanos Medical were worth $4,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AVNS. Vanguard Group Inc. grew its position in Avanos Medical by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company’s stock valued at $85,009,000 after buying an additional 19,476 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Avanos Medical by 27.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock valued at $47,941,000 after acquiring an additional 644,267 shares during the period. Brown Advisory Inc. increased its stake in shares of Avanos Medical by 12.0% in the 4th quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company’s stock worth $30,329,000 after purchasing an additional 204,218 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Avanos Medical by 2.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,406,210 shares of the company’s stock worth $22,387,000 after purchasing an additional 28,608 shares during the period. Finally, Paradice Investment Management LLC raised its holdings in Avanos Medical by 2.5% in the 4th quarter. Paradice Investment Management LLC now owns 1,293,198 shares of the company’s stock worth $20,588,000 after purchasing an additional 30,949 shares during the period. 95.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

Avanos Medical Price Performance

Shares of NYSE:AVNS opened at $12.59 on Thursday. The company has a market capitalization of $579.27 million, a P/E ratio of 37.04 and a beta of 1.13. Avanos Medical, Inc. has a 1-year low of $11.84 and a 1-year high of $25.36. The firm’s 50 day simple moving average is $13.53 and its two-hundred day simple moving average is $16.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46.

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

Avanos Medical 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.