Avanos Medical (NYSE:AVNS) Downgraded to Hold Rating by StockNews.com

Avanos Medical (NYSE:AVNS) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Avanos Medical Price Performance

AVNS stock traded down $0.14 during mid-day trading on Tuesday, hitting $14.76. The company had a trading volume of 460,320 shares, compared to its average volume of 548,177. The company has a market capitalization of $679.05 million, a price-to-earnings ratio of 43.41 and a beta of 1.17. Avanos Medical has a 12-month low of $14.40 and a 12-month high of $25.36. 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 company has a 50-day moving average price of $15.98 and a 200 day moving average price of $19.18.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. The company had revenue of $179.60 million for the quarter, compared to the consensus estimate of $177.23 million. On average, research analysts anticipate that Avanos Medical will post 1.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Kerr Holbrook sold 7,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 82,047 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in shares of Avanos Medical by 34.6% during the third quarter. FMR LLC now owns 133,844 shares of the company’s stock valued at $3,216,000 after acquiring an additional 34,421 shares during the last quarter. Barclays PLC grew its holdings in Avanos Medical by 446.2% during the 3rd quarter. Barclays PLC now owns 96,194 shares of the company’s stock worth $2,311,000 after acquiring an additional 78,583 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Avanos Medical by 12.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 108,470 shares of the company’s stock worth $2,607,000 after acquiring an additional 11,613 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Avanos Medical by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,571 shares of the company’s stock worth $1,672,000 after buying an additional 4,472 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Avanos Medical by 35.8% during the 3rd quarter. Jane Street Group LLC now owns 65,650 shares of the company’s stock worth $1,578,000 after buying an additional 17,306 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.