Groupe la Francaise Invests $6.69 Million in Avanos Medical, Inc. $AVNS

Groupe la Francaise purchased a new stake in shares of Avanos Medical, Inc. (NYSE:AVNS) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 269,014 shares of the company’s stock, valued at approximately $6,693,000.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Avanos Medical by 132.6% in the fourth 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 period. Russell Investments Group Ltd. raised its position in 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. Public Employees Retirement System of Ohio purchased a new stake in Avanos Medical in the second quarter valued at $48,000. Wexford Capital LP acquired a new position in shares of Avanos Medical in the 3rd quarter valued at $70,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of Avanos Medical in the 2nd quarter valued at $75,000. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Price Performance

Shares of NYSE AVNS opened at $24.99 on Tuesday. 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 business’s 50 day moving average is $24.97 and its two-hundred day moving average is $21.88. Avanos Medical, Inc. has a 52-week low of $9.30 and a 52-week high of $25.49. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -15.52 and a beta of 1.57.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research upgraded shares of Avanos Medical from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, July 20th. 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, Avanos Medical presently has an average 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.