Ieq Capital LLC Invests $891,000 in Avanos Medical, Inc. $AVNS

Ieq Capital LLC acquired a new stake in Avanos Medical, Inc. (NYSE:AVNS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,796 shares of the company’s stock, valued at approximately $891,000. Ieq Capital LLC owned 0.08% of Avanos Medical at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in Avanos Medical by 1,596,514.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company’s stock worth $167,287,000 after purchasing an additional 14,895,480 shares during the period. BlackRock Inc. purchased a new stake in shares of Avanos Medical in the 2nd quarter valued at approximately $185,824,000. Armistice Capital LLC increased its holdings in shares of Avanos Medical by 28.0% during the 4th quarter. Armistice Capital LLC now owns 3,200,000 shares of the company’s stock worth $35,936,000 after buying an additional 700,000 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Avanos Medical by 312.4% during the 3rd quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock worth $10,361,000 after buying an additional 678,898 shares during the last quarter. Finally, Samson Rock Capital LLP purchased a new stake in shares of Avanos Medical during the 2nd quarter valued at approximately $14,928,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Avanos Medical Price Performance

Shares of AVNS opened at $24.99 on Friday. The firm has a 50-day simple moving average of $24.96 and a two-hundred day simple moving average of $21.37. The stock has a market cap of $1.17 billion, a PE ratio of -15.52 and a beta of 1.57. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $25.49. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.48 and a quick ratio of 1.40.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVNS. Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Avanos Medical in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Avanos Medical currently has an average rating of “Reduce”.

About Avanos Medical

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.