Avanos Medical (NYSE:AVNS) Cut to “Hold” at StockNews.com

Avanos Medical (NYSE:AVNS) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Avanos Medical Stock Performance

AVNS traded down $0.02 during midday trading on Friday, reaching $19.69. The company had a trading volume of 245,744 shares, compared to its average volume of 278,542. The business has a 50-day moving average of $19.19 and a two-hundred day moving average of $19.90. The company has a quick ratio of 1.38, a current ratio of 2.08 and a debt-to-equity ratio of 0.13. Avanos Medical has a 1 year low of $17.24 and a 1 year high of $26.56. The company has a market cap of $909.68 million, a P/E ratio of -14.92 and a beta of 0.97.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $173.30 million during the quarter, compared to analysts’ expectations of $170.43 million. Avanos Medical had a positive return on equity of 4.25% and a negative net margin of 8.76%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, equities research analysts predict that Avanos Medical will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Greiner sold 8,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $19.12, for a total transaction of $152,960.00. Following the completion of the sale, the chief financial officer now owns 151,495 shares in the company, valued at $2,896,584.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors have recently bought and sold shares of AVNS. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Avanos Medical by 2.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,722 shares of the company’s stock valued at $419,000 after acquiring an additional 504 shares during the period. Gladius Capital Management LP raised its position in Avanos Medical by 63.0% in the 4th quarter. Gladius Capital Management LP now owns 2,416 shares of the company’s stock worth $54,000 after purchasing an additional 934 shares during the period. Swiss National Bank lifted its stake in Avanos Medical by 1.1% in the third quarter. Swiss National Bank now owns 102,500 shares of the company’s stock worth $2,073,000 after purchasing an additional 1,100 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Avanos Medical by 4.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 29,084 shares of the company’s stock valued at $652,000 after buying an additional 1,262 shares during the period. Finally, First National Bank of Omaha grew its stake in shares of Avanos Medical by 4.5% during the fourth quarter. First National Bank of Omaha now owns 29,956 shares of the company’s stock valued at $672,000 after buying an additional 1,285 shares during the last quarter. Institutional investors own 95.17% of the company’s stock.

Avanos Medical Company 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.