Avanos Medical (NYSE:AVNS) Raised to "Buy" at StockNews.com

Avanos Medical (NYSE:AVNS - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday.

Avanos Medical Price Performance

Shares of NYSE:AVNS traded down $0.10 during midday trading on Wednesday, hitting $14.67. The stock had a trading volume of 1,547,734 shares, compared to its average volume of 293,182. The company's 50-day moving average price is $15.83 and its 200-day moving average price is $18.72. The company has a market capitalization of $675.05 million, a P/E ratio of 43.16 and a beta of 1.17. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. Avanos Medical has a fifty-two week low of $14.25 and a fifty-two week high of $25.36.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $179.60 million during the quarter, compared to analysts' expectations of $177.23 million. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. As a group, equities research analysts predict that Avanos Medical will post 1.32 EPS for the current fiscal year.

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Insider Activity

In related news, SVP Kerr Holbrook sold 7,000 shares of the 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 transaction, the senior vice president now directly owns 82,047 shares of the company's stock, valued at $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.94% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in Avanos Medical during the third quarter worth $42,000. Quantbot Technologies LP acquired a new position in Avanos Medical during the fourth quarter worth $64,000. KBC Group NV raised its holdings in Avanos Medical by 63.0% during the third quarter. KBC Group NV now owns 2,833 shares of the company's stock worth $68,000 after buying an additional 1,095 shares during the last quarter. State of Wyoming raised its holdings in Avanos Medical by 132.0% during the fourth quarter. State of Wyoming now owns 5,137 shares of the company's stock worth $82,000 after buying an additional 2,923 shares during the last quarter. Finally, 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 worth $129,000 after buying an additional 6,714 shares during the last quarter. 95.17% of the stock is 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.