Avanos Medical, Inc. (NYSE:AVNS) Short Interest Update

Avanos Medical, Inc. (NYSE:AVNSGet Rating) was the recipient of a large increase in short interest in the month of 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 daily volume of 240,900 shares, the short-interest ratio is presently 5.3 days. Approximately 2.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVNS. Stifel Nicolaus cut their price target on shares of Avanos Medical from $37.00 to $28.00 in a report on Monday, July 18th. Morgan Stanley dropped their price objective on shares of Avanos Medical from $33.00 to $28.00 and set an “underweight” rating for the company in a report on Friday, July 15th. StockNews.com raised shares of Avanos Medical from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Finally, KeyCorp dropped their price objective on shares of Avanos Medical from $41.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th.

Institutional Trading of Avanos Medical

Hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC increased its position 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 increased its position 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 increased its position 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 increased its position 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 increased its position 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. 91.77% of the stock is owned by institutional investors.

Avanos Medical Stock Performance

Avanos Medical stock opened at $22.80 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.08 billion, a PE ratio of -142.49 and a beta of 0.87. The firm has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $28.41. Avanos Medical has a twelve month low of $22.62 and a twelve month high of $36.44.

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, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $203.00 million during the quarter, compared to the consensus estimate of $208.28 million. Avanos Medical had a negative net margin of 1.02% and a positive return on equity of 5.27%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. Research analysts expect that Avanos Medical will post 1.53 EPS for the current year.

Avanos Medical Company Profile

(Get Rating)

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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