Avanos Medical (NYSE:AVNS) Rating Increased to Buy at StockNews.com

Avanos Medical (NYSE:AVNSGet Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Avanos Medical Stock Performance

Shares of Avanos Medical stock opened at $19.54 on Tuesday. The company has a market capitalization of $902.75 million, a PE ratio of -14.80, a P/E/G ratio of 1.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.38 and a current ratio of 2.08. The company has a 50-day simple moving average of $19.24 and a two-hundred day simple moving average of $20.10. Avanos Medical has a one year low of $17.24 and a one year high of $31.31.

Avanos Medical (NYSE:AVNSGet Free Report) last announced its earnings results on Tuesday, February 20th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Avanos Medical had a positive return on equity of 4.25% and a negative net margin of 8.76%. The firm had revenue of $173.30 million during the quarter, compared to the consensus estimate of $170.43 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Research analysts expect that Avanos Medical will post 1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $19.12, for a total value of $152,960.00. Following the sale, the chief financial officer now owns 151,495 shares in the company, valued at approximately $2,896,584.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Avanos Medical by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 5,334,332 shares of the company’s stock valued at $178,700,000 after purchasing an additional 112,546 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Avanos Medical by 9.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,173,794 shares of the company’s stock valued at $94,387,000 after purchasing an additional 281,958 shares during the last quarter. RGM Capital LLC raised its stake in Avanos Medical by 6.8% in the 3rd quarter. RGM Capital LLC now owns 2,951,691 shares of the company’s stock valued at $59,683,000 after purchasing an additional 189,017 shares during the last quarter. Paradice Investment Management LLC grew its holdings in Avanos Medical by 1.3% in the 3rd quarter. Paradice Investment Management LLC now owns 2,272,758 shares of the company’s stock valued at $45,955,000 after buying an additional 28,323 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in Avanos Medical by 2.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,151,091 shares of the company’s stock valued at $48,249,000 after buying an additional 41,818 shares in the last quarter. 93.84% of the stock is owned by institutional investors and hedge funds.

About Avanos Medical

(Get Free Report)

Avanos Medical, Inc, a medical technology company, offers medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.

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