Avanos Medical, Inc. (NYSE:AVNS) Short Interest Up 5.8% in August

Avanos Medical, Inc. (NYSE:AVNSGet Rating) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,280,000 shares, an increase of 5.8% from the August 15th total of 1,210,000 shares. Based on an average trading volume of 240,900 shares, the short-interest ratio is presently 5.3 days. Approximately 2.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AVNS. Mutual of America Capital Management LLC boosted its holdings in shares of Avanos Medical by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 6,944 shares of the company’s stock valued at $233,000 after acquiring an additional 361 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Avanos Medical by 2.1% in the first quarter. Maryland State Retirement & Pension System now owns 19,491 shares of the company’s stock valued at $653,000 after acquiring an additional 408 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Avanos Medical by 23.9% in the first quarter. Captrust Financial Advisors now owns 2,704 shares of the company’s stock valued at $91,000 after acquiring an additional 521 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Avanos Medical by 1.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 61,052 shares of the company’s stock valued at $2,045,000 after acquiring an additional 626 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Avanos Medical by 18.3% in the second quarter. KBC Group NV now owns 4,125 shares of the company’s stock valued at $113,000 after acquiring an additional 639 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVNS. KeyCorp reduced their price objective on Avanos Medical from $41.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th. StockNews.com upgraded Avanos Medical from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Stifel Nicolaus reduced their price objective on Avanos Medical from $37.00 to $28.00 in a research note on Monday, July 18th. Finally, Morgan Stanley cut their price target on Avanos Medical from $33.00 to $28.00 and set an “underweight” rating on the stock in a research note on Friday, July 15th.

Avanos Medical Stock Down 1.2 %

Avanos Medical stock opened at $22.80 on Thursday. Avanos Medical has a 1-year low of $22.62 and a 1-year high of $36.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.89 and a quick ratio of 1.77. The stock has a market cap of $1.08 billion, a PE ratio of -142.49 and a beta of 0.87. The stock’s fifty day moving average is $26.50 and its two-hundred day moving average is $28.41.

Avanos Medical (NYSE:AVNSGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Avanos Medical had a positive return on equity of 5.27% and a negative net margin of 1.02%. The company had revenue of $203.00 million for the quarter, compared to analysts’ expectations of $208.28 million. During the same period last year, the firm earned $0.21 earnings per share. Avanos Medical’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts expect that Avanos Medical will post 1.53 EPS for the current fiscal year.

About Avanos Medical

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Avanos Medical, Inc operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients’ quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care.

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