Avanos Medical (NYSE:AVNS) Sets New 1-Year Low – What’s Next?

Avanos Medical, Inc. (NYSE:AVNS) hit a new 52-week low during trading on Wednesday . The company traded as low as $14.28 and last traded at $14.31, with a volume of 110741 shares changing hands. The stock had previously closed at $14.75.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Avanos Medical from a “buy” rating to a “hold” rating in a report on Tuesday.

Avanos Medical Stock Down 0.1 %

The firm has a 50 day moving average of $15.92 and a two-hundred day moving average of $19.11. The firm has a market capitalization of $664.74 million, a price-to-earnings ratio of 42.50 and a beta of 1.17. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $179.60 million for the quarter, compared to analyst estimates of $177.23 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. As a group, sell-side analysts anticipate that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling at Avanos Medical

In other news, SVP Kerr Holbrook sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.25, for a total transaction of $106,750.00. Following the completion of the transaction, the senior vice president now directly owns 82,047 shares in the company, valued at $1,251,216.75. This trade represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Avanos Medical by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company’s stock worth $85,009,000 after acquiring an additional 19,476 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Avanos Medical by 27.2% during 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 last quarter. Brown Advisory Inc. raised its position in shares of Avanos Medical by 12.0% during 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 last quarter. William Blair Investment Management LLC raised its position in shares of Avanos Medical by 2.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,406,210 shares of the company’s stock worth $22,387,000 after acquiring an additional 28,608 shares during the last quarter. Finally, Paradice Investment Management LLC raised its position in shares of Avanos Medical by 2.5% during the fourth quarter. Paradice Investment Management LLC now owns 1,293,198 shares of the company’s stock worth $20,588,000 after acquiring an additional 30,949 shares during the last quarter. 95.17% of the stock is currently owned by institutional investors.

Avanos Medical Company Profile

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.