Avanos Medical, Inc. (NYSE:AVNS) Sees Large Decline in Short Interest

Avanos Medical, Inc. (NYSE:AVNS) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 632,000 shares, a drop of 5.2% from the January 15th total of 666,900 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 444,200 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On Avanos Medical

A number of institutional investors have recently added to or reduced their stakes in AVNS. Vanguard Group Inc. grew its position in Avanos Medical by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company’s stock worth $85,009,000 after acquiring an additional 19,476 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Avanos Medical by 27.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock worth $47,941,000 after purchasing an additional 644,267 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Avanos Medical by 12.0% in the 4th quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company’s stock worth $30,329,000 after purchasing an additional 204,218 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Avanos Medical by 2.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,406,210 shares of the company’s stock valued at $22,387,000 after purchasing an additional 28,608 shares during the last quarter. Finally, Paradice Investment Management LLC raised its holdings in shares of Avanos Medical by 2.5% during the 4th quarter. Paradice Investment Management LLC now owns 1,293,198 shares of the company’s stock valued at $20,588,000 after buying an additional 30,949 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Avanos Medical from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd.

Avanos Medical Stock Performance

NYSE AVNS opened at $16.55 on Tuesday. The company’s 50 day simple moving average is $16.45 and its two-hundred day simple moving average is $20.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46. Avanos Medical has a 1 year low of $14.98 and a 1 year high of $25.36. The stock has a market capitalization of $760.64 million, a PE ratio of 48.68 and a beta of 0.98.

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.