Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Increases By 23.1%

Avanos Medical, Inc. (NYSE:AVNS) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 3,218,424 shares, a growth of 23.1% from the December 31st total of 2,613,713 shares. Based on an average trading volume of 597,584 shares, the short-interest ratio is currently 5.4 days. Approximately 7.1% of the shares of the company are sold short. Approximately 7.1% of the shares of the company are sold short. Based on an average trading volume of 597,584 shares, the short-interest ratio is currently 5.4 days.

Insiders Place Their Bets

In other news, SVP Kerr Holbrook sold 15,000 shares of Avanos Medical stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $11.00, for a total transaction of $165,000.00. Following the transaction, the senior vice president owned 83,860 shares in the company, valued at $922,460. This trade represents a 15.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.64% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC lifted its stake in Avanos Medical by 22.8% in the 3rd quarter. Armistice Capital LLC now owns 2,500,000 shares of the company’s stock worth $28,900,000 after purchasing an additional 464,000 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Avanos Medical by 312.4% in the third quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock worth $10,361,000 after purchasing an additional 678,898 shares during the last quarter. Tributary Capital Management LLC lifted its position in shares of Avanos Medical by 10.0% in the second quarter. Tributary Capital Management LLC now owns 810,720 shares of the company’s stock worth $9,923,000 after buying an additional 73,518 shares in the last quarter. Clark Estates Inc. NY boosted its stake in Avanos Medical by 58.7% during the third quarter. Clark Estates Inc. NY now owns 783,880 shares of the company’s stock valued at $9,062,000 after buying an additional 290,000 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Avanos Medical by 16.4% during the third quarter. Qube Research & Technologies Ltd now owns 727,838 shares of the company’s stock valued at $8,414,000 after buying an additional 102,429 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

Avanos Medical Stock Performance

NYSE AVNS opened at $13.90 on Thursday. The company has a quick ratio of 1.36, a current ratio of 2.38 and a debt-to-equity ratio of 0.12. Avanos Medical has a twelve month low of $9.30 and a twelve month high of $17.54. The business has a 50-day moving average price of $11.99 and a 200-day moving average price of $11.70. The firm has a market cap of $645.24 million, a price-to-earnings ratio of -1.36 and a beta of 1.09.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. Avanos Medical had a positive return on equity of 6.21% and a negative net margin of 67.00%.The company had revenue of $177.80 million for the quarter, compared to analysts’ expectations of $164.50 million. During the same period in the previous year, the firm earned $0.33 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts predict that Avanos Medical will post 1.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AVNS shares. Wall Street Zen upgraded Avanos Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Zacks Research raised Avanos Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Avanos Medical in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Avanos Medical currently has a consensus rating of “Reduce”.

Avanos Medical Company Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.