Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Rises By 11.3%

Avanos Medical, Inc. (NYSE:AVNS) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 614,500 shares, an increase of 11.3% from the November 15th total of 552,300 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average trading volume of 254,300 shares, the short-interest ratio is presently 2.4 days.

Institutional Trading of Avanos Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in Avanos Medical in the third quarter valued at $42,000. KBC Group NV increased its stake in shares of Avanos Medical by 63.0% in the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after purchasing an additional 1,095 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Avanos Medical in the 2nd quarter worth about $70,000. Intech Investment Management LLC purchased a new position in Avanos Medical during the third quarter worth approximately $207,000. Finally, Atom Investors LP acquired a new stake in Avanos Medical in the third quarter valued at approximately $210,000. 95.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd.

Avanos Medical Price Performance

Shares of AVNS opened at $17.75 on Tuesday. The business’s 50-day moving average is $20.27 and its two-hundred day moving average is $21.44. The company has a market capitalization of $815.79 million, a P/E ratio of 52.21 and a beta of 0.95. Avanos Medical has a fifty-two week low of $17.39 and a fifty-two week high of $25.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22.

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.