Avanos Medical (NYSE:AVNS) Hits New 52-Week Low – Here’s Why

Avanos Medical, Inc. (NYSE:AVNS)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.51 and last traded at $15.68, with a volume of 21611 shares traded. The stock had previously closed at $15.92.

Analyst Ratings Changes

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

Avanos Medical Trading Up 2.2 %

The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $18.72 and a two-hundred day moving average of $21.13. The stock has a market capitalization of $731.64 million, a price-to-earnings ratio of 46.82 and a beta of 0.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Avanos Medical during the third quarter valued at about $42,000. KBC Group NV boosted its stake in Avanos Medical by 63.0% during the 3rd 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 period. Canada Pension Plan Investment Board acquired a new stake in Avanos Medical in the 2nd quarter valued at approximately $70,000. XTX Topco Ltd bought a new position in Avanos Medical in the 2nd quarter worth approximately $202,000. Finally, Intech Investment Management LLC acquired a new position in shares of Avanos Medical during the third quarter worth approximately $207,000. 95.17% of the stock is currently owned by institutional investors and hedge funds.

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.