StockNews.com Upgrades Avanos Medical (NYSE:AVNS) to “Buy”

Avanos Medical (NYSE:AVNS) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Avanos Medical Trading Up 0.4 %

Shares of AVNS stock opened at $14.66 on Wednesday. The stock has a 50-day simple moving average of $15.87 and a 200 day simple moving average of $18.84. Avanos Medical has a fifty-two week low of $14.25 and a fifty-two week high of $25.36. The stock has a market capitalization of $674.59 million, a P/E ratio of 43.13 and a beta of 1.17. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The business had revenue of $179.60 million during the quarter, compared to analyst estimates of $177.23 million. On average, sell-side analysts expect that Avanos Medical will post 1.32 earnings per share for the current fiscal year.

Insider Activity at Avanos Medical

In related news, SVP Kerr Holbrook sold 7,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.25, for a total value of $106,750.00. Following the completion of the sale, the senior vice president now directly owns 82,047 shares of the company’s stock, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avanos Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in AVNS. KBC Group NV raised its stake in shares of Avanos Medical by 63.0% during the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after purchasing an additional 1,095 shares in the last quarter. Natixis Advisors LLC increased its position in Avanos Medical by 13.6% in the 3rd quarter. Natixis Advisors LLC now owns 21,452 shares of the company’s stock worth $515,000 after buying an additional 2,574 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Avanos Medical by 58.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,668 shares of the company’s stock valued at $1,097,000 after purchasing an additional 16,929 shares during the period. King Luther Capital Management Corp bought a new stake in shares of Avanos Medical during the third quarter valued at approximately $544,000. Finally, Intech Investment Management LLC bought a new stake in shares of Avanos Medical during the third quarter valued at approximately $207,000. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.