Rhumbline Advisers Reduces Stake in Avanos Medical, Inc. (NYSE:AVNS)

Rhumbline Advisers trimmed its stake in Avanos Medical, Inc. (NYSE:AVNS) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,705 shares of the company’s stock after selling 3,905 shares during the quarter. Rhumbline Advisers’ holdings in Avanos Medical were worth $2,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alberta Investment Management Corp boosted its stake in Avanos Medical by 16.6% in the fourth quarter. Alberta Investment Management Corp now owns 413,418 shares of the company’s stock valued at $9,273,000 after acquiring an additional 58,826 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Avanos Medical during the 1st quarter valued at approximately $439,000. BNP Paribas Financial Markets lifted its stake in shares of Avanos Medical by 314.4% during the 1st quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company’s stock valued at $1,067,000 after buying an additional 40,653 shares in the last quarter. Norges Bank purchased a new stake in shares of Avanos Medical during the 4th quarter valued at approximately $7,016,000. Finally, Tributary Capital Management LLC lifted its stake in shares of Avanos Medical by 7.5% during the 1st quarter. Tributary Capital Management LLC now owns 742,455 shares of the company’s stock valued at $14,782,000 after buying an additional 51,865 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Stock Performance

Shares of AVNS stock opened at $24.15 on Wednesday. The stock has a market capitalization of $1.11 billion, a P/E ratio of -18.16 and a beta of 0.91. 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 firm’s 50 day moving average is $23.09 and its 200 day moving average is $20.75. Avanos Medical, Inc. has a 12 month low of $17.24 and a 12 month high of $24.89.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $171.70 million for 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 was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. On average, sell-side analysts anticipate that Avanos Medical, Inc. will post 1.39 earnings per share for the current 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.