Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Drops By 5.2%

Avanos Medical, Inc. (NYSE:AVNS) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 632,000 shares, a decrease of 5.2% from the January 15th total of 666,900 shares. Based on an average trading volume of 444,200 shares, the short-interest ratio is presently 1.4 days. Currently, 1.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AVNS. T. Rowe Price Investment Management Inc. increased its stake in shares of Avanos Medical by 27.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock worth $47,941,000 after acquiring an additional 644,267 shares during the period. Tributary Capital Management LLC increased its stake in shares of Avanos Medical by 38.1% in the fourth quarter. Tributary Capital Management LLC now owns 893,008 shares of the company’s stock worth $14,217,000 after acquiring an additional 246,379 shares during the period. Brown Advisory Inc. increased its stake in shares of Avanos Medical by 12.0% in the fourth quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company’s stock worth $30,329,000 after acquiring an additional 204,218 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Avanos Medical by 43.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 494,627 shares of the company’s stock worth $7,874,000 after acquiring an additional 148,902 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Avanos Medical by 189.8% in the fourth quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company’s stock worth $3,210,000 after acquiring an additional 132,063 shares during the period. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd.

Avanos Medical Trading Down 6.2 %

NYSE AVNS opened at $15.55 on Wednesday. The company has a fifty day simple moving average of $16.45 and a two-hundred day simple moving average of $20.05. The stock has a market cap of $714.63 million, a P/E ratio of 45.73 and a beta of 0.98. Avanos Medical has a 12-month low of $14.98 and a 12-month high of $25.36. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12.

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.