Avanos Medical (NYSE:AVNS) Reaches New 52-Week Low – Here’s Why

Avanos Medical, Inc. (NYSE:AVNS) reached a new 52-week low on Tuesday . The company traded as low as $12.09 and last traded at $12.11, with a volume of 82189 shares trading hands. The stock had previously closed at $12.41.

Wall Street Analyst Weigh In

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

Avanos Medical Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46. The company has a 50 day simple moving average of $14.76 and a 200-day simple moving average of $17.37. The firm has a market cap of $548.77 million, a PE ratio of 35.09 and a beta of 1.15.

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

Insider Activity

In other news, SVP Kerr Holbrook sold 7,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 82,047 shares of the company’s stock, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avanos Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVNS. Jane Street Group LLC increased its position in shares of Avanos Medical by 35.8% in the third quarter. Jane Street Group LLC now owns 65,650 shares of the company’s stock valued at $1,578,000 after acquiring an additional 17,306 shares during the period. Barclays PLC grew its stake in shares of Avanos Medical by 446.2% in the third quarter. Barclays PLC now owns 96,194 shares of the company’s stock worth $2,311,000 after purchasing an additional 78,583 shares during the last quarter. Geode Capital Management LLC increased its holdings in Avanos Medical by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,054,162 shares of the company’s stock valued at $25,337,000 after purchasing an additional 16,065 shares during the period. JPMorgan Chase & Co. raised its position in Avanos Medical by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,571 shares of the company’s stock valued at $1,672,000 after purchasing an additional 4,472 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in Avanos Medical by 38.1% in the 4th quarter. Tributary Capital Management LLC now owns 893,008 shares of the company’s stock worth $14,217,000 after buying an additional 246,379 shares during the period. 95.17% of the stock is currently owned by institutional investors.

About Avanos Medical

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.