Avanos Medical, Inc. (NYSE:AVNS) Sees Significant Growth in Short Interest

Avanos Medical, Inc. (NYSE:AVNS) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 888,700 shares, a growth of 25.7% from the February 13th total of 707,000 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 492,300 shares, the days-to-cover ratio is currently 1.8 days.

Avanos Medical Stock Up 1.3 %

NYSE:AVNS traded up $0.19 during mid-day trading on Monday, reaching $14.65. The company’s stock had a trading volume of 946,618 shares, compared to its average volume of 280,668. 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 has a market capitalization of $673.81 million, a PE ratio of 43.08 and a beta of 1.17. The stock has a fifty day moving average of $15.90 and a 200-day moving average of $18.98. Avanos Medical has a 1 year low of $14.25 and a 1 year high of $25.36.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 net margin of 2.30% and a return on equity of 4.70%. Equities research analysts forecast that Avanos Medical will post 1.32 earnings per share for the current year.

Insider Activity

In related news, SVP Kerr Holbrook sold 7,000 shares of the business’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 owns 82,047 shares in the company, valued at approximately $1,251,216.75. The trade was a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Trading of Avanos Medical

Several hedge funds and other institutional investors have recently bought and sold shares of AVNS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Avanos Medical by 10.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,269 shares of the company’s stock valued at $1,915,000 after purchasing an additional 11,799 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Avanos Medical by 20.6% during the fourth quarter. Two Sigma Investments LP now owns 72,701 shares of the company’s stock valued at $1,157,000 after buying an additional 12,422 shares during the last quarter. State of Wyoming boosted its holdings in shares of Avanos Medical by 132.0% in the 4th quarter. State of Wyoming now owns 5,137 shares of the company’s stock valued at $82,000 after buying an additional 2,923 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Avanos Medical by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 13,693 shares of the company’s stock worth $218,000 after buying an additional 4,210 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Avanos Medical during the 4th quarter worth approximately $485,000. Institutional investors own 95.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Avanos Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th.

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.