Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Decreases By 7.0%

Avanos Medical, Inc. (NYSE:AVNS) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 761,800 shares, a decline of 7.0% from the September 15th total of 819,500 shares. Based on an average trading volume of 222,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.7% of the shares of the company are short sold.

Avanos Medical Stock Up 3.0 %

Avanos Medical stock opened at $23.61 on Friday. The stock’s 50 day moving average price is $23.46 and its 200 day moving average price is $21.31. Avanos Medical has a 1-year low of $17.24 and a 1-year high of $25.36. The company has a market cap of $1.08 billion, a PE ratio of -17.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.28 and a quick ratio of 1.49.

Avanos Medical (NYSE:AVNS) last released its earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Avanos Medical had a return on equity of 4.48% and a net margin of 1.13%. The company had revenue of $171.70 million during the quarter, compared to the consensus estimate of $170.67 million. During the same quarter last year, the company earned $0.24 earnings per share. Avanos Medical’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Avanos Medical will post 1.39 EPS for the current fiscal year.

Institutional Trading of Avanos Medical

Institutional investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC increased its holdings in Avanos Medical by 16.8% in the first quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company’s stock valued at $28,372,000 after buying an additional 204,826 shares in the last quarter. Paradice Investment Management LLC grew its holdings in shares of 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 acquiring an additional 69,389 shares during the period. Tributary Capital Management LLC grew its holdings in shares of Avanos Medical by 7.5% in the 1st quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock worth $14,782,000 after acquiring an additional 51,865 shares during the period. Principal Financial Group Inc. increased its stake in Avanos Medical by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 256,814 shares of the company’s stock valued at $5,113,000 after purchasing an additional 3,550 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Avanos Medical by 8.2% during the first quarter. Empowered Funds LLC now owns 177,554 shares of the company’s stock worth $3,535,000 after purchasing an additional 13,409 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Avanos Medical from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

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.