Bank of New York Mellon Corp Sells 21,550 Shares of Avanos Medical, Inc. (NYSE:AVNS)

Bank of New York Mellon Corp lessened its stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 316,239 shares of the company's stock after selling 21,550 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of Avanos Medical worth $5,035,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Quarry LP bought a new position in Avanos Medical during the third quarter worth about $42,000. KBC Group NV boosted its holdings in Avanos Medical by 63.0% in the 3rd 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 period. Intech Investment Management LLC purchased a new position in Avanos Medical in the 3rd quarter valued at approximately $207,000. Atom Investors LP purchased a new position in Avanos Medical in the 3rd quarter valued at approximately $210,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Avanos Medical during the third quarter worth $212,000. Hedge funds and other institutional investors own 95.17% of the company's stock.

Insiders Place Their Bets

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.94% of the company's stock.

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Analyst Upgrades and Downgrades

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

Avanos Medical Price Performance

Shares of AVNS stock traded down $0.10 during trading hours on Friday, reaching $14.67. The stock had a trading volume of 579,124 shares, compared to its average volume of 293,020. The stock's fifty day simple moving average is $15.84 and its 200 day simple moving average is $18.79. 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 capitalization of $675.05 million, a PE ratio of 43.16 and a beta of 1.17. Avanos Medical, Inc. has a 12 month low of $14.25 and a 12 month high of $25.36.

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

Avanos Medical 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.