Royce & Associates LP Grows Stock Holdings in Avanos Medical, Inc. $AVNS

Royce & Associates LP boosted its stake in Avanos Medical, Inc. (NYSE:AVNS) by 88.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,703 shares of the company’s stock after acquiring an additional 28,482 shares during the period. Royce & Associates LP’s holdings in Avanos Medical were worth $682,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in Avanos Medical by 132.6% during 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 last quarter. Russell Investments Group Ltd. increased its holdings in shares of Avanos Medical by 969.3% in the second 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 in the third quarter valued at approximately $70,000. Tower Research Capital LLC TRC raised its stake in shares of Avanos Medical by 433.0% during 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, Quantessence Capital LLC purchased a new stake in shares of Avanos Medical during the third quarter worth approximately $116,000. Institutional investors and hedge funds own 95.17% of the company’s stock.

Avanos Medical Stock Performance

Shares of AVNS stock opened at $24.81 on Monday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -15.41 and a beta of 1.56. The stock has a 50 day simple moving average of $20.78 and a 200-day simple moving average of $15.52. Avanos Medical, Inc. has a 12-month low of $9.30 and a 12-month high of $24.91. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The firm had revenue of $182.20 million for the quarter, compared to the consensus estimate of $170.00 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Avanos Medical, Inc. will post 1.06 EPS for the current year.

Wall Street Analysts Forecast Growth

AVNS has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Zacks Research downgraded shares of Avanos Medical from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, Avanos Medical currently has a consensus rating of “Sell”.

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.