Ieq Capital LLC Buys New Position in Avanos Medical, Inc. $AVNS

Ieq Capital LLC bought a new stake in shares of Avanos Medical, Inc. (NYSE:AVNS) in the second quarter, Holdings Channel reports. The firm bought 35,796 shares of the company’s stock, valued at approximately $891,000.

Several other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in Avanos Medical by 1,596,514.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company’s stock worth $167,287,000 after purchasing an additional 14,895,480 shares during the period. BlackRock Inc. purchased a new position in shares of Avanos Medical in the second quarter valued at approximately $185,824,000. Armistice Capital LLC grew its holdings in shares of Avanos Medical by 28.0% in the fourth quarter. Armistice Capital LLC now owns 3,200,000 shares of the company’s stock valued at $35,936,000 after purchasing an additional 700,000 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Avanos Medical by 312.4% in the third quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock valued at $10,361,000 after purchasing an additional 678,898 shares in the last quarter. Finally, Samson Rock Capital LLP purchased a new stake in Avanos Medical during the 2nd quarter worth approximately $14,928,000. 95.17% of the stock is owned by institutional investors and hedge funds.

Avanos Medical Stock Performance

Shares of Avanos Medical stock opened at $24.99 on Friday. The business has a 50-day simple moving average of $24.96 and a 200-day simple moving average of $21.37. 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 one year low of $9.30 and a one year high of $25.49. The company has a market cap of $1.17 billion, a PE ratio of -15.52 and a beta of 1.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVNS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avanos Medical in a report on Monday, July 20th. Zacks Research upgraded shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Avanos Medical has an average 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.