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StockNews.com Downgrades Avanos Medical (NYSE:AVNS) to Buy

Avanos Medical logo with Medical background

StockNews.com lowered shares of Avanos Medical (NYSE:AVNS - Free Report) from a strong-buy rating to a buy rating in a research note published on Sunday.

Avanos Medical Trading Up 0.2 %

Shares of AVNS traded up $0.03 during trading on Friday, reaching $18.71. 465,474 shares of the company traded hands, compared to its average volume of 184,358. The stock has a 50-day simple moving average of $23.13 and a 200-day simple moving average of $21.52. The stock has a market cap of $859.91 million, a PE ratio of 55.03 and a beta of 0.93. Avanos Medical has a twelve month low of $17.39 and a twelve month high of $25.36. The company has a quick ratio of 1.49, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The company had revenue of $171.70 million for the quarter, compared to analyst estimates of $170.67 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Avanos Medical will post 1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Avanos Medical by 194.3% in the third quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company's stock valued at $863,000 after acquiring an additional 23,714 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Avanos Medical by 2.0% during the 3rd quarter. New York State Teachers Retirement System now owns 72,294 shares of the company's stock worth $1,737,000 after purchasing an additional 1,388 shares during the period. SG Americas Securities LLC acquired a new stake in Avanos Medical in the 3rd quarter valued at about $473,000. Algert Global LLC boosted its stake in shares of Avanos Medical by 7.5% in the 2nd quarter. Algert Global LLC now owns 66,476 shares of the company's stock valued at $1,324,000 after buying an additional 4,646 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Avanos Medical by 51.2% during the second quarter. Mackenzie Financial Corp now owns 25,922 shares of the company's stock worth $516,000 after buying an additional 8,775 shares in the last quarter. Hedge funds and other institutional investors own 95.17% of the company's stock.

About Avanos Medical

(Get Free Report)

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.

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