Avanos Medical (NYSE:AVNS) Shares Gap Down - Time to Sell?

Avanos Medical, Inc. (NYSE:AVNS - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $22.63, but opened at $19.62. Avanos Medical shares last traded at $20.39, with a volume of 20,749 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded Avanos Medical from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

Avanos Medical Stock Down 17.8 %

The firm's 50-day moving average price is $23.41 and its 200 day moving average price is $21.52. The company has a current ratio of 2.28, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $854.65 million, a price-to-earnings ratio of -15.33 and a beta of 0.91.

Avanos Medical (NYSE:AVNS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $171.70 million during the quarter, compared to the consensus estimate of $170.67 million. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. During the same period in the previous year, the business earned $0.24 earnings per share. The company's revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Avanos Medical, Inc. will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in Avanos Medical by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 256,814 shares of the company's stock worth $5,113,000 after purchasing an additional 3,550 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Avanos Medical by 314.4% during the first quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company's stock worth $1,067,000 after buying an additional 40,653 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Avanos Medical by 19.1% during the first quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company's stock worth $259,000 after buying an additional 2,082 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Avanos Medical by 8.2% in the 1st quarter. Empowered Funds LLC now owns 177,554 shares of the company's stock valued at $3,535,000 after acquiring an additional 13,409 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Avanos Medical by 16.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company's stock valued at $28,372,000 after acquiring an additional 204,826 shares in the last quarter. Institutional investors and hedge funds own 95.17% of the company's stock.

Avanos Medical Company 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.