Avanos Medical (NYSE:AVNS) Hits New 1-Year Low – Here’s Why

Shares of Avanos Medical, Inc. (NYSE:AVNS) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.28 and last traded at $14.31, with a volume of 110741 shares trading hands. The stock had previously closed at $14.75.

Analysts Set New Price Targets

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

Avanos Medical Stock Down 1.0 %

The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The firm’s 50 day simple moving average is $15.98 and its 200 day simple moving average is $19.18. The company has a market cap of $672.01 million, a price-to-earnings ratio of 42.95 and a beta of 1.17.

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

Insider Buying and Selling

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.25, for a total value of $106,750.00. Following the completion of the sale, the senior vice president now directly owns 82,047 shares in the company, valued at $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

Several hedge funds have recently modified their holdings of AVNS. T. Rowe Price Investment Management Inc. grew its holdings 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 acquiring an additional 644,267 shares during the period. Tributary Capital Management LLC boosted 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 purchasing an additional 246,379 shares in the last quarter. Brown Advisory Inc. grew its stake 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 during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Avanos Medical by 43.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 494,627 shares of the company’s stock worth $7,874,000 after purchasing an additional 148,902 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Avanos Medical by 189.8% in the 4th quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company’s stock worth $3,210,000 after purchasing an additional 132,063 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

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.