Avanos Medical (NYSE:AVNS) Downgraded by StockNews.com

StockNews.com downgraded shares of Avanos Medical (NYSE:AVNS) from a buy rating to a hold rating in a report released on Friday.

Avanos Medical Trading Down 0.2 %

Shares of NYSE:AVNS opened at $19.68 on Friday. The stock’s 50-day simple moving average is $19.19 and its two-hundred day simple moving average is $19.91. The stock has a market capitalization of $909.22 million, a price-to-earnings ratio of -14.80 and a beta of 0.97. Avanos Medical has a 52-week low of $17.24 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.38 and a current ratio of 2.28.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Avanos Medical had a positive return on equity of 3.98% and a negative net margin of 9.15%. The business had revenue of $173.30 million during the quarter, compared to analysts’ expectations of $170.43 million. During the same period in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. Analysts expect that Avanos Medical will post 1.38 EPS for the current year.

Insider Activity at Avanos Medical

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $19.12, for a total transaction 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 document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avanos Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in Avanos Medical during the 3rd quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Avanos Medical by 52.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,627 shares of the company’s stock worth $195,000 after purchasing an additional 3,330 shares in the last quarter. Fulton Bank N.A. bought a new position in shares of Avanos Medical during the 4th quarter valued at about $228,000. Quantbot Technologies LP purchased a new position in shares of Avanos Medical during the third quarter valued at about $237,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Avanos Medical by 19.1% during the first quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock valued at $259,000 after purchasing an additional 2,082 shares in the last quarter. 95.17% of the stock is owned by institutional investors.

About Avanos Medical

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.