Avanos Medical (NYSE:AVNS) Downgraded to “Hold” at StockNews.com

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

Avanos Medical Stock Performance

Shares of NYSE:AVNS traded down $0.03 during trading on Friday, hitting $19.68. The stock had a trading volume of 246,254 shares, compared to its average volume of 211,695. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average is $19.19 and its 200 day moving average is $19.90. Avanos Medical has a 12 month low of $17.24 and a 12 month high of $26.56.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 3.98%. The business had revenue of $173.30 million for the quarter, compared to analysts’ expectations of $170.43 million. During the same period last year, the business earned $0.60 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Avanos Medical will post 1.38 EPS for the current year.

Insider Activity

In related news, CFO Michael Greiner sold 8,000 shares of the 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 sale, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at approximately $2,896,584.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Avanos Medical

Several institutional investors have recently modified their holdings of AVNS. Gladius Capital Management LP purchased a new position in Avanos Medical in the third quarter worth about $30,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 buying an additional 3,330 shares during the period. Fulton Bank N.A. purchased a new stake in Avanos Medical during the fourth quarter valued at approximately $228,000. Quantbot Technologies LP bought a new position in Avanos Medical in the third quarter worth approximately $237,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Avanos Medical by 19.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock worth $259,000 after acquiring an additional 2,082 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.