Avanos Medical (NYSE:AVNS) Receives Market Perform Rating from JMP Securities

Avanos Medical (NYSE:AVNS)‘s stock had its “market perform” rating reissued by JMP Securities in a report issued on Tuesday, Benzinga reports.

Separately, StockNews.com lowered Avanos Medical from a “buy” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.00.

Avanos Medical Stock Performance

Avanos Medical stock traded up $0.04 on Tuesday, reaching $19.77. 26,692 shares of the stock were exchanged, compared to its average volume of 274,834. The stock has a market cap of $907.44 million, a PE ratio of -14.89 and a beta of 0.97. The firm has a fifty day moving average price of $19.20 and a two-hundred day moving average price of $19.92. The company has a current ratio of 2.28, a quick ratio of 1.47 and a debt-to-equity ratio of 0.14. Avanos Medical has a twelve month low of $17.24 and a twelve month high of $26.56.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 4.10%. The business had revenue of $166.10 million during the quarter, compared to analyst estimates of $162.90 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Avanos Medical will post 1.38 EPS for the current year.

Insider Transactions at Avanos Medical

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. 3.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC bought a new position in shares of Avanos Medical during the 3rd quarter valued at about $22,134,000. Norges Bank bought a new stake in shares of Avanos Medical during the fourth quarter worth $7,016,000. RGM Capital LLC raised its holdings in shares of Avanos Medical by 6.8% during the third quarter. RGM Capital LLC now owns 2,951,691 shares of the company’s stock worth $59,683,000 after acquiring an additional 189,017 shares during the period. Foundry Partners LLC lifted its position in Avanos Medical by 74.6% in the 4th quarter. Foundry Partners LLC now owns 371,029 shares of the company’s stock valued at $8,322,000 after acquiring an additional 158,473 shares in the last quarter. Finally, Kestrel Investment Management Corp bought a new position in Avanos Medical during the 4th quarter worth about $3,265,000. 95.17% of the stock is currently owned by institutional investors.

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.