Empowered Funds LLC Raises Stock Position in Avanos Medical, Inc. (NYSE:AVNS)

Empowered Funds LLC raised its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,554 shares of the company’s stock after purchasing an additional 13,409 shares during the quarter. Empowered Funds LLC owned approximately 0.39% of Avanos Medical worth $3,535,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Alberta Investment Management Corp increased its position in Avanos Medical by 16.6% during the 4th quarter. Alberta Investment Management Corp now owns 413,418 shares of the company’s stock valued at $9,273,000 after purchasing an additional 58,826 shares during the period. Kestrel Investment Management Corp purchased a new position in Avanos Medical during the 4th quarter valued at $3,265,000. Norges Bank purchased a new position in Avanos Medical during the 4th quarter valued at $7,016,000. Tributary Capital Management LLC increased its position in Avanos Medical by 7.5% during the 1st quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock valued at $14,782,000 after purchasing an additional 51,865 shares during the period. Finally, Foundry Partners LLC increased its position in Avanos Medical by 74.6% during the 4th quarter. Foundry Partners LLC now owns 371,029 shares of the company’s stock valued at $8,322,000 after purchasing an additional 158,473 shares during the period. 95.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVNS has been the topic of a number of recent research reports. StockNews.com raised shares of Avanos Medical from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. JMP Securities reaffirmed a “market perform” rating on shares of Avanos Medical in a research report on Tuesday, May 7th.

Avanos Medical Trading Down 0.5 %

Shares of NYSE:AVNS traded down $0.10 during midday trading on Friday, reaching $21.08. The company’s stock had a trading volume of 213,220 shares, compared to its average volume of 214,525. The firm has a 50 day moving average of $19.78 and a 200-day moving average of $19.55. The company has a quick ratio of 1.47, a current ratio of 2.28 and a debt-to-equity ratio of 0.14. Avanos Medical, Inc. has a 12-month low of $17.24 and a 12-month high of $26.56.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 4.10%. The firm had revenue of $166.10 million for the quarter, compared to analysts’ expectations of $162.90 million. During the same period last year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, analysts predict that Avanos Medical, Inc. will post 1.38 EPS for the current fiscal year.

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.