Avanos Medical, Inc. (NYSE:AVNS) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its stake in Avanos Medical, Inc. (NYSE:AVNS) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 570,347 shares of the company’s stock after selling 16,383 shares during the period. Prudential Financial Inc.’s holdings in Avanos Medical were worth $9,080,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new stake in shares of Avanos Medical in the 3rd quarter worth about $207,000. The Manufacturers Life Insurance Company raised its holdings in shares of Avanos Medical by 34.2% during the third quarter. The Manufacturers Life Insurance Company now owns 22,996 shares of the company’s stock valued at $553,000 after buying an additional 5,859 shares during the last quarter. FMR LLC raised its holdings in shares of Avanos Medical by 34.6% during the third quarter. FMR LLC now owns 133,844 shares of the company’s stock valued at $3,216,000 after buying an additional 34,421 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Avanos Medical by 12.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 108,470 shares of the company’s stock worth $2,607,000 after buying an additional 11,613 shares in the last quarter. Finally, Atom Investors LP bought a new position in Avanos Medical in the 3rd quarter worth approximately $210,000. 95.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th.

Insider Activity

In other news, SVP Kerr Holbrook sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were 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 owns 82,047 shares in the company, valued at approximately $1,251,216.75. This trade represents a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.64% of the stock is owned by insiders.

Avanos Medical Stock Performance

Shares of AVNS opened at $13.96 on Friday. The firm has a market capitalization of $641.97 million, a PE ratio of 41.04 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. The firm has a 50-day moving average price of $15.66 and a 200 day moving average price of $18.34. Avanos Medical, Inc. has a 52-week low of $13.87 and a 52-week high of $25.36.

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

Avanos Medical 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.