William Blair Investment Management LLC Raises Position in Avanos Medical, Inc. (NYSE:AVNS)

William Blair Investment Management LLC boosted its stake in Avanos Medical, Inc. (NYSE:AVNS) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,406,210 shares of the company’s stock after buying an additional 28,608 shares during the quarter. William Blair Investment Management LLC owned approximately 3.06% of Avanos Medical worth $22,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVNS. Quarry LP purchased a new position in Avanos Medical in the 3rd quarter valued at about $42,000. KBC Group NV lifted its stake in Avanos Medical by 63.0% in the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after buying an additional 1,095 shares in the last quarter. Intech Investment Management LLC purchased a new position in Avanos Medical in the 3rd quarter valued at about $207,000. Atom Investors LP purchased a new position in Avanos Medical in the 3rd quarter valued at about $210,000. Finally, EP Wealth Advisors LLC purchased a new position in Avanos Medical in the 3rd quarter valued at about $212,000. 95.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Avanos Medical Trading Up 0.4 %

AVNS opened at $14.66 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46. The company’s 50 day simple moving average is $15.87 and its two-hundred day simple moving average is $18.84. Avanos Medical, Inc. has a 1-year low of $14.25 and a 1-year high of $25.36. The firm has a market capitalization of $674.59 million, a price-to-earnings ratio of 43.13 and a beta of 1.17.

Avanos Medical (NYSE:AVNS) last released its earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. The business had revenue of $179.60 million for the quarter, compared to analyst estimates of $177.23 million. Analysts expect that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Insiders Place Their Bets

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