Avanos Medical (NYSE:AVNS) Sets New 52-Week Low - Here's What Happened

Avanos Medical, Inc. (NYSE:AVNS - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $13.87 and last traded at $14.30, with a volume of 165012 shares changing hands. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Avanos Medical from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th.

Avanos Medical Trading Down 4.4 %

The firm has a market capitalization of $617.13 million, a price-to-earnings ratio of 39.46 and a beta of 1.15. 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 company has a 50-day moving average price of $15.53 and a 200-day moving average price of $18.12.

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

Insider Activity at Avanos Medical

In other Avanos Medical 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 value of $106,750.00. Following the completion of the transaction, the senior vice president now owns 82,047 shares in the company, valued at $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.64% of the company's stock.

Institutional Trading of Avanos Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. Illinois Municipal Retirement Fund increased its position in Avanos Medical by 3.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,236 shares of the company's stock worth $402,000 after buying an additional 748 shares during the period. Comerica Bank increased its holdings in shares of Avanos Medical by 3.4% in the 4th quarter. Comerica Bank now owns 22,903 shares of the company's stock valued at $365,000 after acquiring an additional 755 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Avanos Medical by 3.6% in 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 during the last quarter. EP Wealth Advisors LLC raised its position in Avanos Medical by 14.6% in 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 during the last quarter. Finally, Gotham Asset Management LLC grew its position in Avanos Medical by 5.3% during the 4th quarter. Gotham Asset Management LLC now owns 28,234 shares of the company's stock worth $449,000 after purchasing an additional 1,425 shares during 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.