CANADA LIFE ASSURANCE Co Grows Stock Position in Avanos Medical, Inc. (NYSE:AVNS)

CANADA LIFE ASSURANCE Co lifted its stake in Avanos Medical, Inc. (NYSE:AVNS) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,341 shares of the company’s stock after purchasing an additional 13,634 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Avanos Medical were worth $1,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Illinois Municipal Retirement Fund raised its stake in Avanos Medical by 3.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 25,236 shares of the company’s stock valued at $402,000 after buying an additional 748 shares in the last quarter. Mariner LLC raised its stake in Avanos Medical by 18.0% in the fourth quarter. Mariner LLC now owns 10,655 shares of the company’s stock valued at $170,000 after buying an additional 1,625 shares in the last quarter. Pitcairn Co. raised its stake in Avanos Medical by 13.6% in the fourth quarter. Pitcairn Co. now owns 17,290 shares of the company’s stock valued at $275,000 after buying an additional 2,074 shares in the last quarter. US Bancorp DE raised its stake in Avanos Medical by 18.0% in the fourth quarter. US Bancorp DE now owns 14,093 shares of the company’s stock valued at $224,000 after buying an additional 2,147 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Avanos Medical by 4.0% during the fourth quarter. New York State Teachers Retirement System now owns 75,215 shares of the company’s stock worth $1,197,000 after purchasing an additional 2,921 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Avanos Medical Stock Up 2.7 %

AVNS opened at $12.68 on Tuesday. The stock has a market capitalization of $583.32 million, a P/E ratio of 37.29 and a beta of 1.15. Avanos Medical, Inc. has a one year low of $11.84 and a one year high of $25.36. The business’s 50-day simple moving average is $13.94 and its 200-day simple moving average is $16.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $179.60 million for the quarter, compared to analysts’ expectations of $177.23 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. Analysts anticipate that Avanos Medical, Inc. will post 1.32 EPS for the current year.

Insider Activity at Avanos Medical

In other news, SVP Kerr Holbrook sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.25, for a total value of $106,750.00. Following the completion of the sale, the senior vice president now directly owns 82,047 shares of the company’s stock, valued at $1,251,216.75. This trade represents a 7.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.64% of the stock is currently owned by insiders.

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.