Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Increases By 5.4%

Avanos Medical, Inc. (NYSE:AVNS) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 730,900 shares, an increase of 5.4% from the July 31st total of 693,200 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 211,400 shares, the days-to-cover ratio is presently 3.5 days.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Avanos Medical in a research note on Tuesday, May 7th. StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th.

Avanos Medical Trading Up 0.3 %

NYSE:AVNS traded up $0.08 during mid-day trading on Monday, reaching $24.22. The company’s stock had a trading volume of 204,800 shares, compared to its average volume of 241,820. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.28 and a quick ratio of 1.49. The stock has a market cap of $1.11 billion, a P/E ratio of -18.21 and a beta of 0.94. The company’s fifty day simple moving average is $22.11 and its two-hundred day simple moving average is $20.39. Avanos Medical has a twelve month low of $17.24 and a twelve month high of $24.77.

Avanos Medical (NYSE:AVNS) last released its earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. The business had revenue of $171.70 million for the quarter, compared to analysts’ expectations of $170.67 million. During the same period last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts predict that Avanos Medical will post 1.39 EPS for the current year.

Institutional Trading of Avanos Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Avanos Medical by 19.8% in the 4th quarter. Russell Investments Group Ltd. now owns 62,420 shares of the company’s stock worth $1,400,000 after purchasing an additional 10,316 shares during the period. Natixis Advisors L.P. purchased a new position in Avanos Medical in the fourth quarter valued at approximately $317,000. Gladius Capital Management LP lifted its position in Avanos Medical by 63.0% during the fourth quarter. Gladius Capital Management LP now owns 2,416 shares of the company’s stock valued at $54,000 after buying an additional 934 shares in the last quarter. Norges Bank purchased a new stake in Avanos Medical during the fourth quarter worth approximately $7,016,000. Finally, Associated Banc Corp increased its position in shares of Avanos Medical by 114.5% in the fourth quarter. Associated Banc Corp now owns 27,904 shares of the company’s stock worth $626,000 after acquiring an additional 14,894 shares in the last quarter. 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.