Polar Asset Management Partners Inc. Invests $18.70 Million in Avanos Medical, Inc. $AVNS

Polar Asset Management Partners Inc. purchased a new position in shares of Avanos Medical, Inc. (NYSE:AVNS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 751,639 shares of the company’s stock, valued at approximately $18,701,000.

A number of other institutional investors have also recently added to or reduced their stakes in AVNS. AQR Capital Management LLC boosted its position in 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 buying an additional 61,095 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Avanos Medical by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock worth $386,000 after acquiring an additional 1,121 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Avanos Medical by 508.3% in the first quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock worth $7,849,000 after acquiring an additional 457,703 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Avanos Medical by 5.4% in the first quarter. Empowered Funds LLC now owns 162,182 shares of the company’s stock worth $2,324,000 after acquiring an additional 8,348 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Avanos Medical by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,810 shares of the company’s stock valued at $2,018,000 after purchasing an additional 20,541 shares during the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.

Avanos Medical Price Performance

AVNS opened at $24.99 on Wednesday. The company has a market capitalization of $1.17 billion, a P/E ratio of -15.52 and a beta of 1.57. The company has a 50-day moving average of $24.96 and a 200-day moving average of $21.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.48. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $25.49.

Wall Street Analysts Forecast Growth

AVNS has been the subject of a number of recent analyst reports. Weiss Ratings restated 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 report on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Avanos Medical presently has an average rating of “Reduce”.

Avanos Medical 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.