Sei Investments Co. Acquires 92,063 Shares of Avanos Medical, Inc. $AVNS

Sei Investments Co. grew its holdings in shares of Avanos Medical, Inc. (NYSE:AVNS) by 121.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,936 shares of the company’s stock after buying an additional 92,063 shares during the quarter. Sei Investments Co.’s holdings in Avanos Medical were worth $2,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVNS. EverSource Wealth Advisors LLC raised its holdings in shares of Avanos Medical by 132.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock worth $28,000 after acquiring an additional 1,423 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Avanos Medical by 969.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after purchasing an additional 2,307 shares in the last quarter. Wexford Capital LP bought a new stake in Avanos Medical during the 3rd quarter worth approximately $70,000. Tower Research Capital LLC TRC raised its stake in shares of Avanos Medical by 433.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock worth $77,000 after purchasing an additional 5,083 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Avanos Medical by 15.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company’s stock worth $89,000 after purchasing an additional 846 shares during the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Price Performance

Avanos Medical stock opened at $24.99 on Friday. Avanos Medical, Inc. has a 52 week low of $9.30 and a 52 week high of $25.49. The company’s 50 day moving average price is $24.96 and its two-hundred day moving average price is $20.16. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.17 billion, a P/E ratio of -15.52 and a beta of 1.57.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVNS. Wall Street Zen cut Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avanos Medical in a report on Monday, July 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Avanos Medical has a consensus rating of “Reduce”.

Avanos Medical 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.