Avanos Medical (NYSE:AVNS) Reaches New 52-Week Low - Time to Sell?

Avanos Medical, Inc. (NYSE:AVNS - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $12.09 and last traded at $12.11, with a volume of 82189 shares traded. The stock had previously closed at $12.41.

Analyst Ratings Changes

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

Avanos Medical Stock Up 2.9 %

The firm has a 50 day moving average price of $14.40 and a 200-day moving average price of $17.10. 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 firm has a market cap of $570.62 million, a PE ratio of 36.48 and a beta of 1.15.

Avanos Medical (NYSE:AVNS - Get Free Report) last issued its quarterly earnings results 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. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. The company had revenue of $179.60 million during the quarter, compared to the consensus estimate of $177.23 million. Research analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Insider Transactions at Avanos Medical

In other news, SVP Kerr Holbrook sold 7,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.25, for a total value 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. This trade represents a 7.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.64% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AVNS. T. Rowe Price Investment Management Inc. grew its stake in shares of Avanos Medical by 27.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company's stock worth $47,941,000 after purchasing an additional 644,267 shares during the period. Tributary Capital Management LLC grew its holdings in shares of Avanos Medical by 38.1% during the fourth quarter. Tributary Capital Management LLC now owns 893,008 shares of the company's stock worth $14,217,000 after buying an additional 246,379 shares in the last quarter. Brown Advisory Inc. lifted its position in Avanos Medical by 12.0% during the fourth quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company's stock worth $30,329,000 after buying an additional 204,218 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Avanos Medical by 43.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 494,627 shares of the company's stock worth $7,874,000 after purchasing an additional 148,902 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Avanos Medical by 189.8% in the 4th quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company's stock valued at $3,210,000 after purchasing an additional 132,063 shares in the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.