Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Drops By 39.6%

Avanos Medical, Inc. (NYSE:AVNS) saw a significant decrease in short interest in April. As of April 30th, there was short interest totaling 1,211,005 shares, a decrease of 39.6% from the April 15th total of 2,004,529 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,609,614 shares, the short-interest ratio is presently 0.8 days.

Avanos Medical Trading Up 0.1%

NYSE AVNS traded up $0.02 on Monday, reaching $24.73. The company had a trading volume of 849,559 shares, compared to its average volume of 1,242,821. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -15.36 and a beta of 1.58. Avanos Medical has a fifty-two week low of $9.30 and a fifty-two week high of $24.91. The business has a 50 day moving average of $18.75 and a two-hundred day moving average of $14.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.48 and a quick ratio of 1.40.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $170.00 million. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.Avanos Medical’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. Analysts forecast that Avanos Medical will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVNS. Wall Street Zen downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Zacks Research downgraded Avanos Medical from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Avanos Medical currently has an average rating of “Sell”.

Institutional Trading of Avanos Medical

A number of large investors have recently bought and sold shares of AVNS. EverSource Wealth Advisors LLC grew its holdings in Avanos Medical by 132.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock worth $28,000 after acquiring an additional 1,423 shares during the period. Versant Capital Management Inc grew its holdings in Avanos Medical by 49.7% during the 3rd quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock worth $31,000 after acquiring an additional 894 shares during the period. Russell Investments Group Ltd. grew its holdings in Avanos Medical by 969.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after acquiring an additional 2,307 shares during the period. Wexford Capital LP acquired a new stake in Avanos Medical during the 3rd quarter worth about $70,000. Finally, Tower Research Capital LLC TRC grew its holdings in Avanos Medical by 433.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock worth $77,000 after acquiring an additional 5,083 shares during the period. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Company 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.