Avanos Medical (NYSE:AVNS) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Avanos Medical (NYSE:AVNS) from a hold rating to a buy rating in a report released on Wednesday morning.

Avanos Medical Stock Performance

Shares of NYSE:AVNS opened at $14.78 on Wednesday. Avanos Medical has a 52 week low of $14.25 and a 52 week high of $25.36. The stock has a market capitalization of $680.02 million, a P/E ratio of 43.48 and a beta of 1.17. The firm has a fifty day simple moving average of $15.85 and a two-hundred day simple moving average of $18.82. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. The business had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $177.23 million. On average, analysts expect that Avanos Medical will post 1.32 earnings per share for the current fiscal year.

Insider Transactions at Avanos Medical

In other news, SVP Kerr Holbrook sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.25, for a total value of $106,750.00. Following the completion of the sale, the senior vice president now owns 82,047 shares in the company, valued at approximately $1,251,216.75. This trade represents a 7.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.94% of the company’s stock.

Institutional Investors Weigh In On Avanos Medical

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in Avanos Medical during the 3rd quarter valued at about $42,000. Quantbot Technologies LP bought a new stake in Avanos Medical during the 4th quarter valued at about $64,000. KBC Group NV lifted its holdings in Avanos Medical by 63.0% during the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after buying an additional 1,095 shares in the last quarter. State of Wyoming lifted its holdings in Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company’s stock valued at $82,000 after buying an additional 2,923 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Avanos Medical by 493.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock valued at $129,000 after buying an additional 6,714 shares in the last quarter. Institutional investors own 95.17% of the company’s stock.

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.