Avanos Medical (NYSE:AVNS) Rating Lowered to Hold at StockNews.com

Avanos Medical (NYSE:AVNS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Avanos Medical Stock Down 0.9 %

Shares of NYSE:AVNS opened at $14.62 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $15.95 and a two-hundred day simple moving average of $19.15. Avanos Medical has a 12-month low of $14.25 and a 12-month high of $25.36. The stock has a market capitalization of $672.33 million, a price-to-earnings ratio of 42.99 and a beta of 1.17.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $179.60 million for the quarter, compared to the consensus estimate of $177.23 million. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. On average, research analysts anticipate that Avanos Medical will post 1.32 earnings per share for the current fiscal year.

Insider Transactions at Avanos Medical

In related news, SVP Kerr Holbrook sold 7,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.25, for a total value of $106,750.00. Following the completion of the transaction, the senior vice president now owns 82,047 shares of the company’s stock, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avanos Medical

Several large investors have recently made changes to their positions in AVNS. Janney Montgomery Scott LLC grew its stake in shares of Avanos Medical by 194.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company’s stock worth $863,000 after buying an additional 23,714 shares in the last quarter. Versor Investments LP bought a new position in shares of Avanos Medical in the 3rd quarter valued at about $368,000. KBC Group NV grew its position in Avanos Medical by 63.0% in the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after acquiring an additional 1,095 shares in the last quarter. Natixis Advisors LLC increased its stake in Avanos Medical by 13.6% during the third quarter. Natixis Advisors LLC now owns 21,452 shares of the company’s stock worth $515,000 after acquiring an additional 2,574 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Avanos Medical by 58.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,668 shares of the company’s stock valued at $1,097,000 after purchasing an additional 16,929 shares during the period. 95.17% of the stock is 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.