Norges Bank Purchases New Shares in Avanos Medical, Inc. (NYSE:AVNS)

Norges Bank bought a new stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 104,502 shares of the company's stock, valued at approximately $1,664,000. Norges Bank owned 0.23% of Avanos Medical as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Illinois Municipal Retirement Fund boosted its holdings in shares of Avanos Medical by 3.1% during the 4th 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. US Bancorp DE grew its holdings in Avanos Medical by 18.0% during the fourth quarter. US Bancorp DE now owns 14,093 shares of the company's stock valued at $224,000 after purchasing an additional 2,147 shares during the period. New York State Teachers Retirement System lifted its stake in Avanos Medical by 4.0% in the fourth quarter. New York State Teachers Retirement System now owns 75,215 shares of the company's stock valued at $1,197,000 after buying an additional 2,921 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Avanos Medical during the 4th quarter worth approximately $64,000. Finally, LPL Financial LLC raised its stake in shares of Avanos Medical by 25.5% during the 4th quarter. LPL Financial LLC now owns 20,552 shares of the company's stock worth $327,000 after purchasing an additional 4,176 shares in the last quarter. Institutional investors and hedge funds own 95.17% of the company's stock.

Wall Street Analysts Forecast Growth

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

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 transaction, the senior vice president now directly owns 82,047 shares in the company, valued at $1,251,216.75. This represents a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.64% of the company's stock.

Avanos Medical Stock Up 0.1 %

NYSE AVNS traded up $0.01 during mid-day trading on Thursday, hitting $12.07. The company's stock had a trading volume of 53,437 shares, compared to its average volume of 324,818. The firm has a market capitalization of $555.44 million, a price-to-earnings ratio of 35.34 and a beta of 1.15. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. Avanos Medical, Inc. has a twelve month low of $11.91 and a twelve month high of $25.36. The company's 50 day simple moving average is $14.57 and its 200 day simple moving average is $17.30.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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%. Analysts anticipate that Avanos Medical, Inc. will post 1.32 earnings per share 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.