Avanos Medical (NYSE:AVNS) Hits New 12-Month High at $24.89

Avanos Medical, Inc. (NYSE:AVNS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.89 and last traded at $24.81, with a volume of 23208 shares traded. The stock had previously closed at $24.20.

Avanos Medical Trading Down 0.2 %

The stock has a 50 day moving average of $23.00 and a 200 day moving average of $20.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.28 and a quick ratio of 1.49. The firm has a market cap of $1.11 billion, a P/E ratio of -18.44 and a beta of 0.91.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $171.70 million during the quarter, compared to analyst estimates of $170.67 million. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, equities research analysts predict that Avanos Medical, Inc. will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Avanos Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Avanos Medical in the 4th quarter worth approximately $7,016,000. William Blair Investment Management LLC increased its position in Avanos Medical by 16.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company’s stock valued at $28,372,000 after purchasing an additional 204,826 shares during the period. Paradice Investment Management LLC raised its holdings in Avanos Medical by 5.4% in the 2nd quarter. Paradice Investment Management LLC now owns 1,344,949 shares of the company’s stock worth $26,791,000 after purchasing an additional 69,389 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of Avanos Medical by 16.6% in the 4th quarter. Alberta Investment Management Corp now owns 413,418 shares of the company’s stock worth $9,273,000 after purchasing an additional 58,826 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Avanos Medical during the 2nd quarter valued at about $1,077,000. 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.