Avanos Medical (NYSE:AVNS) Sets New 12-Month Low – Time to Sell?

Avanos Medical, Inc. (NYSE:AVNS)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.87 and last traded at $14.30, with a volume of 165012 shares trading hands. The stock had previously closed at $13.95.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Avanos Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th.

Avanos Medical Trading Up 0.8 %

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 cap of $665.66 million, a P/E ratio of 42.56 and a beta of 1.17. The firm’s 50-day simple moving average is $15.59 and its 200 day simple moving average is $18.18.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data 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 company had revenue of $179.60 million during the quarter, compared to analyst estimates of $177.23 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. As a group, analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

Insider Activity at Avanos Medical

In related news, SVP Kerr Holbrook sold 7,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.25, for a total transaction of $106,750.00. Following the sale, the senior vice president now directly owns 82,047 shares in the company, valued at approximately $1,251,216.75. The trade was a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Avanos Medical in the third quarter valued at approximately $42,000. Quantbot Technologies LP purchased a new position in shares of Avanos Medical during the 4th quarter valued at $64,000. State of Wyoming increased its holdings in shares of Avanos Medical by 132.0% in the fourth quarter. State of Wyoming now owns 5,137 shares of the company’s stock worth $82,000 after purchasing an additional 2,923 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Avanos Medical by 493.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock worth $129,000 after buying an additional 6,714 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in Avanos Medical by 14.6% during the fourth quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company’s stock valued at $161,000 after buying an additional 1,289 shares during the period. Hedge funds and other institutional investors own 95.17% of the company’s stock.

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.