Avanos Medical (NYSE:AVNS) Hits New 52-Week Low – What’s Next?

Avanos Medical, Inc. (NYSE:AVNS) shares reached a new 52-week low on Monday . The company traded as low as $13.87 and last traded at $14.30, with a volume of 165012 shares. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Avanos Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th.

Avanos Medical Trading Up 2.8 %

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 business’s 50-day moving average price is $15.66 and its 200 day moving average price is $18.31. The company has a market cap of $659.45 million, a P/E ratio of 42.16 and a beta of 1.17.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The business had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $177.23 million. As a group, analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

Insider Activity

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.25, for a total value of $106,750.00. Following the transaction, the senior vice president now directly owns 82,047 shares in the company, valued at $1,251,216.75. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors and hedge funds have recently bought and sold shares of AVNS. Quarry LP bought a new stake in shares of Avanos Medical in the 3rd quarter worth approximately $42,000. Quantbot Technologies LP purchased a new position in Avanos Medical during the fourth quarter valued at $64,000. State of Wyoming raised its stake in Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company’s stock worth $82,000 after acquiring an additional 2,923 shares during the period. Tower Research Capital LLC TRC raised its holdings in Avanos Medical by 493.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock valued at $129,000 after acquiring an additional 6,714 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in Avanos Medical by 14.6% during the fourth quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company’s stock valued at $161,000 after acquiring an additional 1,289 shares in the last quarter. 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.