Avanos Medical (NYSE:AVNS) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Avanos Medical (NYSE:AVNS) from a buy rating to a hold rating in a research note issued to investors on Friday.

Avanos Medical Stock Performance

Shares of AVNS stock traded down $0.03 on Friday, hitting $19.68. 246,254 shares of the stock traded hands, compared to its average volume of 211,695. The company’s fifty day moving average is $19.19 and its 200 day moving average is $19.90. Avanos Medical has a 1-year low of $17.24 and a 1-year high of $26.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.38 and a current ratio of 2.28.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Avanos Medical had a positive return on equity of 3.98% and a negative net margin of 9.15%. The business had revenue of $173.30 million for the quarter, compared to analyst estimates of $170.43 million. During the same period last year, the company posted $0.60 earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts anticipate that Avanos Medical will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $19.12, for a total value of $152,960.00. Following the sale, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at $2,896,584.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Gladius Capital Management LP acquired a new stake in Avanos Medical in the third quarter worth about $30,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Avanos Medical by 52.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,627 shares of the company’s stock valued at $195,000 after acquiring an additional 3,330 shares during the period. Fulton Bank N.A. bought a new stake in Avanos Medical during the fourth quarter worth approximately $228,000. Quantbot Technologies LP bought a new position in Avanos Medical during the 3rd quarter valued at $237,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Avanos Medical by 19.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,010 shares of the company’s stock valued at $259,000 after purchasing an additional 2,082 shares during the period. 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.