Channing Capital Management LLC Invests $66.01 Million in Avanos Medical Inc (AVNS) Stock

Channing Capital Management LLC purchased a new position in Avanos Medical Inc (NYSE:AVNS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 963,635 shares of the company’s stock, valued at approximately $66,009,000. Avanos Medical makes up approximately 2.4% of Channing Capital Management LLC’s portfolio, making the stock its 18th biggest position. Channing Capital Management LLC owned 2.03% of Avanos Medical at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bollard Group LLC acquired a new stake in Avanos Medical in the third quarter worth about $100,000. Whittier Trust Co. acquired a new stake in shares of Avanos Medical during the third quarter worth about $110,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Avanos Medical during the second quarter worth about $136,000. CENTRAL TRUST Co acquired a new stake in shares of Avanos Medical during the third quarter worth about $167,000. Finally, Bank of Montreal Can acquired a new stake in shares of Avanos Medical during the third quarter worth about $197,000. 88.96% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the company. Raymond James raised Avanos Medical from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. KeyCorp lifted their target price on Avanos Medical from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 8th. Morgan Stanley lifted their target price on Avanos Medical from $60.00 to $62.00 and gave the stock an “underweight” rating in a report on Thursday, October 11th. Zacks Investment Research downgraded Avanos Medical from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, Barclays assumed coverage on Avanos Medical in a report on Monday, October 15th. They set an “equal weight” rating and a $69.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $69.25.

In related news, SVP John W. Wesley purchased 1,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was bought at an average cost of $47.48 per share, with a total value of $47,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Fralin Woody purchased 3,500 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was bought at an average cost of $43.35 per share, with a total value of $151,725.00. The disclosure for this purchase can be found here. Insiders acquired 6,500 shares of company stock valued at $286,685 over the last three months. 1.44% of the stock is currently owned by corporate insiders.

Avanos Medical stock opened at $47.71 on Monday. Avanos Medical Inc has a 52 week low of $42.80 and a 52 week high of $72.96. The stock has a market cap of $2.26 billion, a P/E ratio of 20.39 and a beta of 1.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.32.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.09. Avanos Medical had a return on equity of 6.59% and a net margin of 14.26%. The company had revenue of $165.10 million during the quarter, compared to the consensus estimate of $166.57 million. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Avanos Medical Inc will post 1.83 EPS for the current fiscal year.

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Avanos Medical Profile

Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.

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Institutional Ownership by Quarter for Avanos Medical (NYSE:AVNS)

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