Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Grows By 9.5%

Avanos Medical, Inc. (NYSE:AVNS) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,150,000 shares, a growth of 9.5% from the May 31st total of 1,050,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 200,200 shares, the short-interest ratio is presently 5.7 days.

Institutional Trading of Avanos Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new position in Avanos Medical during the third quarter valued at $30,000. EntryPoint Capital LLC raised its holdings in Avanos Medical by 97.6% in the first quarter. EntryPoint Capital LLC now owns 5,601 shares of the company’s stock worth $112,000 after buying an additional 2,766 shares during the last quarter. Fulton Bank N.A. bought a new stake in shares of Avanos Medical during the fourth quarter valued at approximately $228,000. Janney Montgomery Scott LLC increased its holdings in shares of Avanos Medical by 19.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock worth $259,000 after purchasing an additional 2,082 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Avanos Medical in the third quarter worth $281,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Trading Down 1.1 %

Shares of AVNS stock opened at $19.71 on Tuesday. The stock has a fifty day moving average of $19.58 and a 200 day moving average of $19.67. Avanos Medical has a 52 week low of $17.24 and a 52 week high of $26.56. The company has a quick ratio of 1.47, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $166.10 million during the quarter, compared to analysts’ expectations of $162.90 million. Avanos Medical had a positive return on equity of 4.10% and a negative net margin of 9.15%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, research analysts predict that Avanos Medical will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Avanos Medical from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th. JMP Securities restated a “market perform” rating on shares of Avanos Medical in a report on Tuesday, May 7th.

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.