Avanos Medical (NYSE:AVNS) Stock Rating Lowered by StockNews.com

Avanos Medical (NYSE:AVNS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Avanos Medical Stock Down 0.2 %

AVNS opened at $19.68 on Friday. The company’s 50 day simple moving average is $19.19 and its two-hundred day simple moving average is $19.91. Avanos Medical has a 1-year low of $17.24 and a 1-year high of $26.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 1.38.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $173.30 million for the quarter, compared to analysts’ expectations of $170.43 million. Avanos Medical had a positive return on equity of 3.98% and a negative net margin of 9.15%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Research analysts anticipate that Avanos Medical will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of Avanos Medical stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $19.12, for a total transaction of $152,960.00. Following the transaction, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at $2,896,584.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avanos Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Avanos Medical by 391.1% in the 3rd quarter. SG Americas Securities LLC now owns 26,306 shares of the company’s stock valued at $532,000 after purchasing an additional 20,949 shares during the last quarter. Bailard Inc. increased its position in shares of Avanos Medical by 16.4% during the third quarter. Bailard Inc. now owns 16,013 shares of the company’s stock valued at $324,000 after acquiring an additional 2,251 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Avanos Medical by 52.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,627 shares of the company’s stock valued at $195,000 after acquiring an additional 3,330 shares during the last quarter. Paradice Investment Management LLC raised its stake in shares of Avanos Medical by 1.3% in the 3rd quarter. Paradice Investment Management LLC now owns 2,272,758 shares of the company’s stock valued at $45,955,000 after acquiring an additional 28,323 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Avanos Medical in the 3rd quarter worth approximately $563,000. Institutional investors and hedge funds 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.