Tributary Capital Management LLC Cuts Holdings in Avanos Medical, Inc. (NYSE:AVNS)

Tributary Capital Management LLC lessened its stake in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 13.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 646,629 shares of the company's stock after selling 96,427 shares during the period. Tributary Capital Management LLC owned about 1.41% of Avanos Medical worth $15,538,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AVNS. William Blair Investment Management LLC increased its holdings in Avanos Medical by 16.8% during the first quarter. William Blair Investment Management LLC now owns 1,425,036 shares of the company's stock worth $28,372,000 after buying an additional 204,826 shares during the last quarter. Paradice Investment Management LLC increased its stake in shares of Avanos Medical by 5.4% in the second quarter. Paradice Investment Management LLC now owns 1,344,949 shares of the company's stock worth $26,791,000 after purchasing an additional 69,389 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Avanos Medical in the second quarter worth about $1,077,000. BNP Paribas Financial Markets increased its stake in shares of Avanos Medical by 314.4% in the first quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company's stock worth $1,067,000 after purchasing an additional 40,653 shares in the last quarter. Finally, Boston Partners purchased a new position in shares of Avanos Medical in the first quarter worth about $571,000. Hedge funds and other institutional investors own 95.17% of the company's stock.

Analyst Ratings Changes

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

Avanos Medical Stock Performance

Shares of AVNS traded up $0.28 during trading hours on Monday, hitting $22.62. The company's stock had a trading volume of 130,548 shares, compared to its average volume of 235,931. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 133.29 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.28 and a quick ratio of 1.49. The business has a 50 day simple moving average of $23.44 and a two-hundred day simple moving average of $21.47. Avanos Medical, Inc. has a 52-week low of $17.39 and a 52-week high of $25.36.

Avanos Medical (NYSE:AVNS - Get Free Report) last issued 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 company had revenue of $171.70 million during the quarter, compared to analysts' expectations of $170.67 million. Avanos Medical had a net margin of 1.13% and a return on equity of 4.48%. Avanos Medical's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, equities analysts expect that Avanos Medical, Inc. will post 1.39 earnings per share for the current fiscal year.

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.