Punch & Associates Investment Management Inc. Acquires Shares of 270,000 Avanos Medical, Inc. $AVNS

Punch & Associates Investment Management Inc. acquired a new stake in Avanos Medical, Inc. (NYSE:AVNS) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 270,000 shares of the company’s stock, valued at approximately $3,032,000.

A number of other hedge funds have also recently modified their holdings of AVNS. EverSource Wealth Advisors LLC increased its position in shares of Avanos Medical by 132.6% in the fourth 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. Russell Investments Group Ltd. boosted its stake in Avanos Medical by 969.3% during the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after acquiring an additional 2,307 shares in the last quarter. Wexford Capital LP bought a new stake in Avanos Medical during the third quarter worth about $70,000. Tower Research Capital LLC TRC lifted 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 buying an additional 5,083 shares in the last quarter. Finally, Quantessence Capital LLC purchased a new position in shares of Avanos Medical during the third quarter valued at approximately $116,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Avanos Medical Price Performance

NYSE:AVNS opened at $24.97 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.48 and a quick ratio of 1.40. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -15.51 and a beta of 1.56. The company has a 50 day moving average price of $23.49 and a 200-day moving average price of $16.66. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $25.49.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AVNS shares. Wall Street Zen cut shares of Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Zacks Research upgraded shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Weiss Ratings upgraded shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. 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 data from MarketBeat.com, Avanos Medical presently 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.