Heartland Advisors Inc. Sells 5,809 Shares of Avanos Medical, Inc. (NYSE:AVNS)

Heartland Advisors Inc. lessened its holdings in Avanos Medical, Inc. (NYSE:AVNS) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,724 shares of the company’s stock after selling 5,809 shares during the quarter. Heartland Advisors Inc.’s holdings in Avanos Medical were worth $9,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Associated Banc Corp grew its stake in Avanos Medical by 114.2% in the 1st quarter. Associated Banc Corp now owns 41,604 shares of the company’s stock valued at $1,121,000 after purchasing an additional 22,177 shares during the period. SG Americas Securities LLC bought a new position in shares of Avanos Medical during the 4th quarter worth $445,000. Jane Street Group LLC bought a new position in shares of Avanos Medical during the 4th quarter worth $278,000. Hilton Capital Management LLC bought a new position in shares of Avanos Medical during the 1st quarter worth $202,000. Finally, Truist Financial Corp bought a new position in shares of Avanos Medical during the 4th quarter worth $313,000. Hedge funds and other institutional investors own 91.55% of the company’s stock.

Separately, Zacks Investment Research upgraded Avanos Medical from a “hold” rating to a “strong-buy” rating and set a $51.00 price target for the company in a research note on Wednesday, April 21st.

AVNS traded down $0.08 during trading on Friday, reaching $39.96. 2,154 shares of the company were exchanged, compared to its average volume of 366,572. The company has a 50-day simple moving average of $41.99. The stock has a market cap of $1.92 billion, a P/E ratio of -49.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.83 and a current ratio of 2.90. Avanos Medical, Inc. has a 12-month low of $27.09 and a 12-month high of $53.61.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Thursday, May 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $181.00 million for the quarter, compared to analysts’ expectations of $175.68 million. Avanos Medical had a positive return on equity of 3.23% and a negative net margin of 5.38%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. Equities analysts predict that Avanos Medical, Inc. will post 1.2 earnings per share for the current year.

Avanos Medical Company Profile

Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life 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; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.

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Institutional Ownership by Quarter for Avanos Medical (NYSE:AVNS)

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