Avanos Medical (NYSE:AVNS) Raised to Buy at StockNews.com

Avanos Medical (NYSE:AVNS) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Avanos Medical Trading Down 0.6 %

Shares of NYSE AVNS opened at $14.74 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 stock has a market capitalization of $677.85 million, a P/E ratio of 43.34 and a beta of 1.17. Avanos Medical has a 1-year low of $14.25 and a 1-year high of $25.36. The business has a fifty day moving average price of $15.84 and a 200 day moving average price of $18.79.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data 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 return on equity of 4.70% and a net margin of 2.30%. The firm had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $177.23 million. Equities research analysts expect that Avanos Medical will post 1.32 EPS for the current fiscal year.

Insider Activity

In other news, SVP Kerr Holbrook sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.25, for a total value of $106,750.00. Following the sale, the senior vice president now owns 82,047 shares in the company, valued at $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.94% of the company’s stock.

Hedge Funds Weigh In On Avanos Medical

Hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Avanos Medical by 10.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,269 shares of the company’s stock valued at $1,915,000 after acquiring an additional 11,799 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Avanos Medical by 20.6% in the fourth quarter. Two Sigma Investments LP now owns 72,701 shares of the company’s stock valued at $1,157,000 after acquiring an additional 12,422 shares in the last quarter. State of Wyoming lifted its position in shares of Avanos Medical by 132.0% in the fourth quarter. State of Wyoming now owns 5,137 shares of the company’s stock valued at $82,000 after acquiring an additional 2,923 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Avanos Medical by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 13,693 shares of the company’s stock valued at $218,000 after acquiring an additional 4,210 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Avanos Medical in the fourth quarter valued at approximately $485,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.

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.