Avanos Medical (NYSE:AVNS) Reaches New 1-Year Low - Here's What Happened

Avanos Medical, Inc. (NYSE:AVNS - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $14.24 and last traded at $14.27, with a volume of 189699 shares. The stock had previously closed at $14.40.

Wall Street Analysts Forecast Growth

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 Down 2.6 %

The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12. The company has a market cap of $641.97 million, a P/E ratio of 41.04 and a beta of 1.17. The firm has a fifty day moving average price of $15.66 and a 200 day moving average price of $18.34.

Avanos Medical (NYSE:AVNS - Get Free Report) last announced 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. 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%. Equities research analysts forecast that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

Remove Ads

Insider Buying and Selling at Avanos Medical

In other news, SVP Kerr Holbrook sold 7,000 shares of the company'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 transaction, the senior vice president now directly owns 82,047 shares in the company, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.64% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Avanos Medical in the third quarter worth approximately $42,000. Quantbot Technologies LP purchased a new position in Avanos Medical in the fourth quarter valued at about $64,000. State of Wyoming grew its position in shares of Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company's stock valued at $82,000 after acquiring an additional 2,923 shares during the period. Tower Research Capital LLC TRC lifted its stake in Avanos Medical by 493.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company's stock valued at $129,000 after purchasing an additional 6,714 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in Avanos Medical by 14.6% in the fourth quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock worth $161,000 after buying an additional 1,289 shares during the last quarter. Institutional investors and hedge funds 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.