Avanos Medical (NYSE:AVNS) Sets New 1-Year Low - What's Next?

Avanos Medical, Inc. (NYSE:AVNS - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.28 and last traded at $14.31, with a volume of 110741 shares traded. The stock had previously closed at $14.75.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Avanos Medical from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th.

Avanos Medical Stock Down 0.1 %

The stock has a market cap of $664.74 million, a price-to-earnings ratio of 42.50 and a beta of 1.17. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average price is $15.90 and its 200-day moving average price is $19.01.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $179.60 million during the quarter, compared to analyst estimates of $177.23 million. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. On average, sell-side analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

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Insider Activity

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the business's 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 completion of the sale, the senior vice president now owns 82,047 shares in the company, valued at approximately $1,251,216.75. The trade was a 7.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Avanos Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Illinois Municipal Retirement Fund increased its stake in Avanos Medical by 3.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 25,236 shares of the company's stock valued at $402,000 after purchasing an additional 748 shares in the last quarter. Comerica Bank increased its stake in Avanos Medical by 3.4% during the 4th quarter. Comerica Bank now owns 22,903 shares of the company's stock valued at $365,000 after purchasing an additional 755 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Avanos Medical by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,834 shares of the company's stock valued at $411,000 after purchasing an additional 901 shares in the last quarter. KBC Group NV increased its stake in Avanos Medical by 63.0% during the 3rd quarter. KBC Group NV now owns 2,833 shares of the company's stock valued at $68,000 after purchasing an additional 1,095 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in Avanos Medical by 14.6% during the 4th quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock valued at $161,000 after purchasing an additional 1,289 shares in the last quarter. 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.