Victory Capital Management Inc. Purchases 9,411 Shares of Avanos Medical, Inc. (NYSE:AVNS)

Victory Capital Management Inc. grew its position in Avanos Medical, Inc. (NYSE:AVNS) by 71.8% during the third quarter, HoldingsChannel reports. The firm owned 22,519 shares of the company’s stock after buying an additional 9,411 shares during the period. Victory Capital Management Inc.’s holdings in Avanos Medical were worth $703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its stake in Avanos Medical by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 51,473 shares of the company’s stock worth $1,872,000 after acquiring an additional 441 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Avanos Medical by 2.0% during the second quarter. UBS Asset Management Americas Inc. now owns 47,952 shares of the company’s stock worth $1,744,000 after acquiring an additional 923 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Avanos Medical by 17.5% during the second quarter. Teacher Retirement System of Texas now owns 6,276 shares of the company’s stock worth $228,000 after buying an additional 936 shares during the last quarter. First Trust Advisors LP raised its holdings in Avanos Medical by 18.7% during the first quarter. First Trust Advisors LP now owns 7,531 shares of the company’s stock worth $321,000 after buying an additional 1,185 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Avanos Medical by 6.9% during the third quarter. Louisiana State Employees Retirement System now owns 23,200 shares of the company’s stock worth $724,000 after buying an additional 1,500 shares during the last quarter. 89.68% of the stock is currently owned by institutional investors and hedge funds.

NYSE AVNS opened at $32.67 on Friday. Avanos Medical, Inc. has a 52-week low of $28.95 and a 52-week high of $53.61. The company has a 50-day simple moving average of $32.65 and a 200 day simple moving average of $33.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.91 and a current ratio of 3.13. The company has a market capitalization of $1.57 billion, a PE ratio of -29.70 and a beta of 0.89.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings data on Tuesday, November 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Avanos Medical had a positive return on equity of 3.67% and a negative net margin of 7.06%. The company had revenue of $184.10 million for the quarter, compared to analysts’ expectations of $183.90 million. During the same quarter last year, the business posted $0.21 EPS. As a group, analysts forecast that Avanos Medical, Inc. will post 1.09 EPS for the current fiscal year.

AVNS has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Avanos Medical from $37.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, January 7th. TheStreet upgraded shares of Avanos Medical from a “d+” rating to a “c” rating in a report on Monday, January 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $44.75.

About Avanos Medical

Avanos Medical, Inc operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients’ quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care.

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Institutional Ownership by Quarter for Avanos Medical (NYSE:AVNS)

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