SummerHaven Investment Management LLC Acquires New Stake in Avanos Medical, Inc. $AVNS

SummerHaven Investment Management LLC acquired a new stake in Avanos Medical, Inc. (NYSE:AVNS) during the third quarter, Holdings Channel reports. The fund acquired 69,452 shares of the company’s stock, valued at approximately $803,000.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Avanos Medical by 49.7% in the third quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock valued at $31,000 after buying an additional 894 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Avanos Medical by 969.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock valued at $31,000 after acquiring an additional 2,307 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Avanos Medical by 433.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock valued at $77,000 after acquiring an additional 5,083 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Avanos Medical in the 2nd quarter valued at about $126,000. Finally, Inscription Capital LLC purchased a new position in Avanos Medical in the 3rd quarter worth approximately $135,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Avanos Medical in a research report on Monday, December 22nd. Wall Street Zen raised Avanos Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Insider Activity

In related news, SVP Kerr Holbrook sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $11.00, for a total value of $165,000.00. Following the sale, the senior vice president directly owned 83,860 shares in the company, valued at approximately $922,460. The trade was a 15.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.64% of the company’s stock.

Avanos Medical Stock Down 2.1%

AVNS stock opened at $12.88 on Thursday. Avanos Medical, Inc. has a one year low of $9.30 and a one year high of $17.69. The firm has a market cap of $597.70 million, a PE ratio of -1.26 and a beta of 1.08. The firm’s 50 day moving average price is $11.82 and its 200-day moving average price is $11.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 2.38.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.10. Avanos Medical had a positive return on equity of 6.21% and a negative net margin of 67.00%.The company had revenue of $177.80 million during the quarter, compared to analyst estimates of $164.50 million. During the same period in the prior year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Avanos Medical has set its FY 2025 guidance at 0.850-0.950 EPS. On average, equities research analysts anticipate that Avanos Medical, Inc. will post 1.32 EPS for the current year.

About Avanos Medical

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.