Avanos Medical (NYSE:AVNS) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Avanos Medical (NYSE:AVNS) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday.

Avanos Medical Price Performance

Shares of AVNS stock opened at $18.71 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. Avanos Medical has a 12 month low of $17.39 and a 12 month high of $25.36. The firm has a market cap of $859.91 million, a price-to-earnings ratio of 55.03 and a beta of 0.93. The stock has a 50-day moving average price of $23.13 and a 200 day moving average price of $21.52.

Hedge Funds Weigh In On Avanos Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board acquired a new position in shares of Avanos Medical in the 2nd quarter valued at $70,000. EntryPoint Capital LLC increased its holdings in Avanos Medical by 97.6% in the first quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock valued at $112,000 after purchasing an additional 2,766 shares during the last quarter. XTX Topco Ltd acquired a new position in Avanos Medical in the second quarter valued at about $202,000. Magnetar Financial LLC bought a new position in Avanos Medical during the second quarter worth about $248,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Avanos Medical by 19.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock worth $259,000 after buying an additional 2,082 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.