Avanos Medical (NYSE:AVNS) Trading Down 6.3% – Here’s What Happened

Avanos Medical, Inc. (NYSE:AVNS)’s share price dropped 6.3% during mid-day trading on Tuesday . The company traded as low as $15.53 and last traded at $15.52. Approximately 155,285 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 544,062 shares. The stock had previously closed at $16.57.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd.

Avanos Medical Stock Down 0.5 %

The stock has a market cap of $713.48 million, a PE ratio of 45.66 and a beta of 0.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22. The company’s 50-day moving average price is $16.27 and its 200 day moving average price is $19.92.

Institutional Trading of Avanos Medical

A number of institutional investors have recently bought and sold shares of AVNS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Avanos Medical by 10.9% during 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 buying an additional 11,799 shares during the period. Two Sigma Investments LP increased its stake in shares of Avanos Medical by 20.6% during the fourth quarter. Two Sigma Investments LP now owns 72,701 shares of the company’s stock valued at $1,157,000 after buying an additional 12,422 shares during the period. State of Wyoming increased its stake in shares of Avanos Medical by 132.0% during the fourth quarter. State of Wyoming now owns 5,137 shares of the company’s stock valued at $82,000 after buying an additional 2,923 shares during the period. ProShare Advisors LLC increased its stake in shares of Avanos Medical by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 13,693 shares of the company’s stock valued at $218,000 after buying an additional 4,210 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Avanos Medical during the fourth quarter valued at $485,000. 95.17% of the stock is currently owned by institutional investors.

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.