Avanos Medical, Inc. (NYSE:AVNS) Short Interest Down 7.0% in September

Avanos Medical, Inc. (NYSE:AVNS) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 761,800 shares, a decline of 7.0% from the September 15th total of 819,500 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 222,000 shares, the days-to-cover ratio is presently 3.4 days.

Avanos Medical Price Performance

Shares of NYSE AVNS traded up $0.37 during mid-day trading on Thursday, reaching $23.29. The company’s stock had a trading volume of 62,269 shares, compared to its average volume of 238,036. The stock has a 50-day moving average of $23.44 and a two-hundred day moving average of $21.30. The stock has a market capitalization of $1.07 billion, a P/E ratio of -17.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 2.28. Avanos Medical has a 1-year low of $17.24 and a 1-year high of $25.36.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. The firm had revenue of $171.70 million during the quarter, compared to analyst estimates of $170.67 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Avanos Medical’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Avanos Medical will post 1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Avanos Medical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVNS. Tidal Investments LLC acquired a new stake in Avanos Medical in the first quarter valued at approximately $439,000. BNP Paribas Financial Markets raised its holdings in Avanos Medical by 314.4% in the first quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company’s stock valued at $1,067,000 after acquiring an additional 40,653 shares in the last quarter. Tributary Capital Management LLC raised its holdings in Avanos Medical by 7.5% during the first quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock worth $14,782,000 after purchasing an additional 51,865 shares in the last quarter. Boston Partners acquired a new stake in Avanos Medical during the first quarter worth approximately $571,000. Finally, Quest Partners LLC acquired a new stake in Avanos Medical during the second quarter worth approximately $444,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.

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.