Avanos Medical, Inc. (NYSE:AVNS) Short Interest Down 7.0% in September

Avanos Medical, Inc. (NYSE:AVNS) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 761,800 shares, a drop of 7.0% from the September 15th total of 819,500 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 222,000 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Trading of Avanos Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. William Blair Investment Management LLC grew its holdings in Avanos Medical by 16.8% in the first quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company’s stock worth $28,372,000 after purchasing an additional 204,826 shares during the period. Paradice Investment Management LLC increased its position in Avanos Medical by 5.4% during the 2nd quarter. Paradice Investment Management LLC now owns 1,344,949 shares of the company’s stock valued at $26,791,000 after buying an additional 69,389 shares in the last quarter. Tributary Capital Management LLC raised its stake in Avanos Medical by 7.5% during the first quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock valued at $14,782,000 after buying an additional 51,865 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Avanos Medical by 1.4% during the first quarter. Principal Financial Group Inc. now owns 256,814 shares of the company’s stock valued at $5,113,000 after acquiring an additional 3,550 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Avanos Medical by 8.2% during the 1st quarter. Empowered Funds LLC now owns 177,554 shares of the company’s stock valued at $3,535,000 after purchasing an additional 13,409 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

Avanos Medical Trading Up 2.6 %

Shares of Avanos Medical stock traded up $0.59 on Thursday, hitting $23.51. The stock had a trading volume of 93,706 shares, compared to its average volume of 238,164. The stock’s 50-day simple moving average is $23.44 and its two-hundred day simple moving average is $21.30. Avanos Medical has a one year low of $17.24 and a one year high of $25.36. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -17.23 and a beta of 0.91.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $171.70 million during the quarter, compared to analyst estimates of $170.67 million. Avanos Medical had a return on equity of 4.48% and a net margin of 1.13%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, sell-side analysts predict that Avanos Medical will post 1.39 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Avanos Medical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

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.