NINE MASTS CAPITAL Ltd Buys New Shares in Avanos Medical, Inc. $AVNS

NINE MASTS CAPITAL Ltd purchased a new position in shares of Avanos Medical, Inc. (NYSE:AVNS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $1,244,000.

A number of other hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Avanos Medical by 1,596,514.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company’s stock worth $167,287,000 after buying an additional 14,895,480 shares during the period. BlackRock Inc. purchased a new position in shares of Avanos Medical in the 2nd quarter worth about $185,824,000. Armistice Capital LLC lifted its position in Avanos Medical by 28.0% during the fourth quarter. Armistice Capital LLC now owns 3,200,000 shares of the company’s stock valued at $35,936,000 after buying an additional 700,000 shares in the last quarter. State Street Corp boosted its position in Avanos Medical by 2.8% during the 4th quarter. State Street Corp now owns 1,954,785 shares of the company’s stock worth $21,952,000 after purchasing an additional 53,523 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Avanos Medical by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,084,504 shares of the company’s stock worth $12,180,000 after purchasing an additional 16,980 shares in the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.

Avanos Medical Stock Performance

Shares of AVNS opened at $24.99 on Tuesday. The stock has a market capitalization of $1.17 billion, a PE ratio of -15.52 and a beta of 1.57. The business’s fifty day moving average price is $24.96 and its 200 day moving average price is $20.73. 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, Inc. has a 12-month low of $9.30 and a 12-month high of $25.49.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVNS. 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 reissued a “sell (d-)” rating on shares of Avanos Medical in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Avanos Medical presently has a consensus 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.