Punch & Associates Investment Management Inc. boosted its position in shares of Avanos Medical, Inc. (NYSE:AVNS – Free Report) by 61.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 437,085 shares of the company’s stock after acquiring an additional 167,085 shares during the quarter. Punch & Associates Investment Management Inc. owned 0.93% of Avanos Medical worth $6,124,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AVNS. Northwestern Mutual Wealth Management Co. increased its stake in Avanos Medical by 1,596,514.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company’s stock worth $167,287,000 after purchasing an additional 14,895,480 shares during the period. Armistice Capital LLC lifted its position in shares of Avanos Medical by 28.0% during the fourth quarter. Armistice Capital LLC now owns 3,200,000 shares of the company’s stock worth $35,936,000 after purchasing an additional 700,000 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Avanos Medical by 312.4% in the third quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock valued at $10,361,000 after purchasing an additional 678,898 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Avanos Medical by 356.6% in the third quarter. Ameriprise Financial Inc. now owns 591,181 shares of the company’s stock valued at $6,834,000 after purchasing an additional 461,706 shares during the period. Finally, Citadel Advisors LLC grew its holdings in shares of Avanos Medical by 212.0% in the third quarter. Citadel Advisors LLC now owns 574,104 shares of the company’s stock valued at $6,637,000 after purchasing an additional 390,082 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on AVNS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, July 20th. Zacks Research raised shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Wall Street Zen downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.
Avanos Medical Stock Performance
Shares of AVNS opened at $25.00 on Friday. The stock has a 50-day simple moving average of $24.91 and a 200-day simple moving average of $19.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.48. The stock has a market capitalization of $1.17 billion, a PE ratio of -15.52 and a beta of 1.57. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $25.49.
Avanos Medical (NYSE:AVNS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $170.00 million. During the same period in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts predict that Avanos Medical, Inc. will post 1.06 earnings per share for the current fiscal year.
About Avanos Medical
Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.
In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.
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