UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in Avanos Medical, Inc. $AVNS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Avanos Medical, Inc. (NYSE:AVNS) by 29.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,266 shares of the company’s stock after selling 62,894 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Avanos Medical were worth $3,664,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AVNS. AQR Capital Management LLC raised its stake in shares of Avanos Medical by 46.4% in the 1st quarter. AQR Capital Management LLC now owns 192,864 shares of the company’s stock valued at $2,700,000 after acquiring an additional 61,095 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Avanos Medical by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock valued at $386,000 after purchasing an additional 1,121 shares during the last quarter. Millennium Management LLC increased its holdings in Avanos Medical by 508.3% in the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock valued at $7,849,000 after purchasing an additional 457,703 shares during the last quarter. Empowered Funds LLC raised its position in Avanos Medical by 5.4% in the first quarter. Empowered Funds LLC now owns 162,182 shares of the company’s stock valued at $2,324,000 after purchasing an additional 8,348 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Avanos Medical by 154.3% during the first quarter. Intech Investment Management LLC now owns 124,061 shares of the company’s stock worth $1,778,000 after purchasing an additional 75,279 shares in the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Avanos Medical Stock Performance

Shares of AVNS opened at $24.99 on Thursday. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $25.49. The stock has a market capitalization of $1.17 billion, a PE ratio of -15.52 and a beta of 1.57. 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 stock has a 50-day simple moving average of $24.98 and a 200-day simple moving average of $22.01.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVNS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, July 20th. Zacks Research raised Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

About Avanos Medical

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.