Avanos Medical (NYSE:AVNS) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Avanos Medical (NYSE:AVNS) from a hold rating to a buy rating in a research note published on Wednesday morning.

Avanos Medical Stock Down 0.6 %

Avanos Medical stock opened at $14.67 on Wednesday. The firm’s 50 day moving average price is $15.83 and its two-hundred day moving average price is $18.72. Avanos Medical has a twelve month low of $14.25 and a twelve month high of $25.36. The firm has a market cap of $675.05 million, a PE ratio of 43.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. The company had revenue of $179.60 million for the quarter, compared to analyst estimates of $177.23 million. On average, research analysts predict that Avanos Medical will post 1.32 EPS for the current fiscal year.

Insider Transactions at Avanos Medical

In other news, SVP Kerr Holbrook sold 7,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.25, for a total transaction of $106,750.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in Avanos Medical by 34.6% in the 3rd quarter. FMR LLC now owns 133,844 shares of the company’s stock valued at $3,216,000 after buying an additional 34,421 shares during the last quarter. Barclays PLC grew its stake in Avanos Medical by 446.2% in the 3rd quarter. Barclays PLC now owns 96,194 shares of the company’s stock valued at $2,311,000 after buying an additional 78,583 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Avanos Medical by 12.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 108,470 shares of the company’s stock valued at $2,607,000 after buying an additional 11,613 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Avanos Medical by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,571 shares of the company’s stock valued at $1,672,000 after buying an additional 4,472 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Avanos Medical by 35.8% in the 3rd quarter. Jane Street Group LLC now owns 65,650 shares of the company’s stock valued at $1,578,000 after buying an additional 17,306 shares during 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.