Hillsdale Investment Management Inc. Increases Position in Avanos Medical, Inc. (NYSE:AVNS)

Hillsdale Investment Management Inc. lifted its position in shares of Avanos Medical, Inc. (NYSE:AVNS) by 8.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 177,000 shares of the company’s stock after purchasing an additional 13,720 shares during the period. Hillsdale Investment Management Inc.’s holdings in Avanos Medical were worth $2,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVNS. Quarry LP purchased a new stake in Avanos Medical during the 3rd quarter worth about $42,000. Quantbot Technologies LP purchased a new stake in Avanos Medical during the fourth quarter worth approximately $64,000. KBC Group NV boosted its holdings in Avanos Medical by 63.0% in the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after purchasing an additional 1,095 shares in the last quarter. Intech Investment Management LLC purchased a new position in Avanos Medical in the third quarter valued at approximately $207,000. Finally, Atom Investors LP acquired a new stake in Avanos Medical during the third quarter worth approximately $210,000. Institutional investors and hedge funds own 95.17% of the company’s stock.

Insider Activity

In related news, SVP Kerr Holbrook sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.25, for a total transaction of $106,750.00. Following the transaction, the senior vice president now owns 82,047 shares of the company’s stock, valued at $1,251,216.75. This trade represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.94% of the company’s stock.

Avanos Medical Stock Performance

Shares of AVNS stock opened at $14.67 on Friday. The stock’s 50-day moving average is $15.83 and its two-hundred day moving average is $18.68. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22. Avanos Medical, Inc. has a 1 year low of $14.25 and a 1 year high of $25.36. The firm has a market cap of $675.05 million, a price-to-earnings ratio of 43.16 and a beta of 1.17.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Analysts predict that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

Analysts Set New Price Targets

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

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.