Royce & Associates LP Boosts Stock Position in Avanos Medical, Inc. $AVNS

Royce & Associates LP raised its holdings in Avanos Medical, Inc. (NYSE:AVNS) by 88.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,703 shares of the company’s stock after buying an additional 28,482 shares during the period. Royce & Associates LP owned about 0.13% of Avanos Medical worth $682,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Avanos Medical by 1,596,514.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company’s stock valued at $167,287,000 after acquiring an additional 14,895,480 shares during the last quarter. Armistice Capital LLC lifted its stake in Avanos Medical by 22.8% during the third 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 during the last quarter. Millennium Management LLC boosted its holdings in Avanos Medical by 312.4% in the third quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock valued at $10,361,000 after purchasing an additional 678,898 shares in the last quarter. Clark Estates Inc. NY boosted its holdings in Avanos Medical by 58.7% in the third quarter. Clark Estates Inc. NY now owns 783,880 shares of the company’s stock valued at $9,062,000 after purchasing an additional 290,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Avanos Medical by 16.4% in the third quarter. Qube Research & Technologies Ltd now owns 727,838 shares of the company’s stock valued at $8,414,000 after purchasing 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 Trading Up 0.1%

AVNS opened at $24.81 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. Avanos Medical, Inc. has a 52 week low of $9.30 and a 52 week high of $24.91. The business’s 50 day moving average is $20.78 and its two-hundred day moving average is $15.52. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -15.41 and a beta of 1.56.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $170.00 million. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. On average, research analysts predict that Avanos Medical, Inc. will post 1.06 EPS for the current year.

Analysts Set New Price Targets

AVNS has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Zacks Research downgraded shares of Avanos Medical from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

About Avanos Medical

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.