Avanos Medical (NYSE:AVNS) Sees Unusually-High Trading Volume – Time to Buy?

Avanos Medical, Inc. (NYSE:AVNS) shares saw strong trading volume on Monday . 1,268,474 shares changed hands during trading, an increase of 21% from the previous session’s volume of 1,045,180 shares.The stock last traded at $24.6750 and had previously closed at $24.66.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings upgraded Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen cut Avanos Medical from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce”.

Avanos Medical Price Performance

The company has a current ratio of 2.15, a quick ratio of 1.26 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $17.04 and a two-hundred day moving average price of $13.92. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -15.36 and a beta of 1.58.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $170.00 million. Avanos Medical had a positive return on equity of 5.40% and a negative net margin of 10.39%.The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. As a group, research analysts forecast that Avanos Medical, Inc. will post 1.07 EPS for the current year.

Institutional Trading of Avanos Medical

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in Avanos Medical by 132.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock valued at $28,000 after acquiring an additional 1,423 shares during the period. Versant Capital Management Inc increased its position in shares of Avanos Medical by 49.7% during the 3rd quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock valued at $31,000 after purchasing an additional 894 shares during the period. Russell Investments Group Ltd. increased its position in shares of 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 purchasing an additional 2,307 shares during the period. Wexford Capital LP acquired a new position in shares of Avanos Medical during the 3rd quarter valued at $70,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Avanos Medical by 433.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock valued at $77,000 after purchasing an additional 5,083 shares during the period. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Company Profile

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.