Armistice Capital LLC Buys 700,000 Shares of Avanos Medical, Inc. $AVNS

Armistice Capital LLC lifted its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 28.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,200,000 shares of the company’s stock after purchasing an additional 700,000 shares during the quarter. Armistice Capital LLC owned 6.89% of Avanos Medical worth $35,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AVNS. Federated Hermes Inc. lifted its stake in Avanos Medical by 2.8% in the 4th quarter. Federated Hermes Inc. now owns 25,774 shares of the company’s stock valued at $289,000 after purchasing an additional 691 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Avanos Medical by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock worth $386,000 after buying an additional 1,121 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Avanos Medical by 132.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock worth $28,000 after buying an additional 1,423 shares in the last quarter. Swiss National Bank lifted its stake in shares of Avanos Medical by 2.1% in the 4th quarter. Swiss National Bank now owns 91,500 shares of the company’s stock valued at $1,028,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Avanos Medical by 969.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock valued at $31,000 after acquiring an additional 2,307 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Stock Performance

Shares of Avanos Medical stock opened at $24.94 on Thursday. 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 twelve month low of $9.30 and a twelve month high of $25.49. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -15.49 and a beta of 1.56. The company’s fifty day moving average is $23.72 and its 200 day moving average is $16.75.

Avanos Medical (NYSE:AVNS) last announced its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $182.20 million during the quarter, compared to analyst estimates of $170.00 million. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.Avanos Medical’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Sell-side analysts forecast that Avanos Medical, Inc. will post 1.06 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on AVNS. Weiss Ratings raised Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Wall Street Zen lowered Avanos Medical from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company 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.