StockNews.com Downgrades Avanos Medical (NYSE:AVNS) to Buy

StockNews.com downgraded shares of Avanos Medical (NYSE:AVNS) from a strong-buy rating to a buy rating in a research note released on Sunday.

Avanos Medical Price Performance

Shares of AVNS opened at $18.71 on Friday. The stock has a 50 day simple moving average of $23.13 and a 200 day simple moving average of $21.52. Avanos Medical has a 52-week low of $17.39 and a 52-week high of $25.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.49 and a current ratio of 2.22. The firm has a market capitalization of $859.91 million, a PE ratio of 55.03 and a beta of 0.93.

Institutional Investors Weigh In On Avanos Medical

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in Avanos Medical by 314.4% during the 1st quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company’s stock worth $1,067,000 after purchasing an additional 40,653 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Avanos Medical by 19.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock valued at $259,000 after buying an additional 2,082 shares during the last quarter. Empowered Funds LLC lifted its stake in Avanos Medical by 8.2% in the 1st quarter. Empowered Funds LLC now owns 177,554 shares of the company’s stock valued at $3,535,000 after acquiring an additional 13,409 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Avanos Medical by 16.8% in 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 acquiring an additional 204,826 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Avanos Medical by 8.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,053 shares of the company’s stock worth $379,000 after acquiring an additional 1,516 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.