Avanos Medical (NYSE:AVNS) Rating Increased to Buy at StockNews.com

Avanos Medical (NYSE:AVNS) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Avanos Medical Stock Up 0.4 %

NYSE AVNS opened at $14.66 on Wednesday. The stock has a market cap of $674.59 million, a PE ratio of 43.13 and a beta of 1.17. Avanos Medical has a fifty-two week low of $14.25 and a fifty-two week high of $25.36. The business has a 50 day moving average price of $15.87 and a two-hundred day moving average price of $18.84. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $177.23 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. As a group, sell-side analysts predict that Avanos Medical will post 1.32 EPS for the current fiscal year.

Insider Activity

In other news, SVP Kerr Holbrook sold 7,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.25, for a total transaction of $106,750.00. Following the completion of the transaction, the senior vice president now directly owns 82,047 shares in the company, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors and hedge funds have recently made changes to their positions in AVNS. T. Rowe Price Investment Management Inc. raised its position in shares of Avanos Medical by 27.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock valued at $47,941,000 after acquiring an additional 644,267 shares in the last quarter. Tributary Capital Management LLC raised its position in shares of Avanos Medical by 38.1% during the 4th quarter. Tributary Capital Management LLC now owns 893,008 shares of the company’s stock valued at $14,217,000 after acquiring an additional 246,379 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Avanos Medical by 12.0% during the 4th quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company’s stock valued at $30,329,000 after acquiring an additional 204,218 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Avanos Medical by 43.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 494,627 shares of the company’s stock valued at $7,874,000 after acquiring an additional 148,902 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Avanos Medical by 189.8% during the 4th quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company’s stock valued at $3,210,000 after acquiring an additional 132,063 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

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.