Avanos Medical (NYSE:AVNS) Sees Large Volume Increase – Time to Buy?

Avanos Medical, Inc. (NYSE:AVNS) shares saw an uptick in trading volume on Friday . 706,848 shares changed hands during mid-day trading, an increase of 16% from the previous session’s volume of 609,186 shares.The stock last traded at $15.34 and had previously closed at $15.40.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd.

Avanos Medical Stock Down 0.8 %

The firm has a 50 day simple moving average of $17.84 and a two-hundred day simple moving average of $20.90. 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 stock has a market capitalization of $701.76 million, a P/E ratio of 44.91 and a beta of 0.99.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Avanos Medical during the third quarter worth $42,000. KBC Group NV raised its position 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 during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Avanos Medical during the second quarter valued at about $70,000. Intech Investment Management LLC bought a new stake in shares of Avanos Medical during the third quarter worth about $207,000. Finally, Atom Investors LP bought a new position in Avanos Medical in the 3rd quarter valued at approximately $210,000. Institutional investors and hedge funds own 95.17% of the company’s stock.

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.