Louisiana State Employees Retirement System Takes $289,000 Position in Avanos Medical, Inc. $AVNS

Louisiana State Employees Retirement System purchased a new position in Avanos Medical, Inc. (NYSE:AVNS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,600 shares of the company’s stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVNS. EverSource Wealth Advisors LLC boosted 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 valued at $28,000 after acquiring an additional 1,423 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Avanos Medical by 969.3% in the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after purchasing an additional 2,307 shares during the last quarter. Wexford Capital LP purchased a new position in Avanos Medical in the 3rd quarter worth about $70,000. Tower Research Capital LLC TRC lifted 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 valued at $77,000 after buying an additional 5,083 shares in the last quarter. Finally, Quantessence Capital LLC purchased a new stake in Avanos Medical in the 3rd quarter valued at about $116,000. 95.17% of the stock is owned by institutional investors.

Avanos Medical Stock Performance

AVNS stock opened at $24.93 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -15.48 and a beta of 1.57. Avanos Medical, Inc. has a one year low of $9.30 and a one year high of $25.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.48. The firm has a 50-day simple moving average of $24.86 and a two-hundred day simple moving average of $18.25.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The firm had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $170.00 million. During the same period last year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Avanos Medical, Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVNS shares. Zacks Research raised shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings raised Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Avanos Medical currently has an average rating of “Reduce”.

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.