Avanos Medical, Inc. (NYSE:AVNS) Position Reduced by Swiss National Bank

Swiss National Bank decreased its holdings in shares of Avanos Medical, Inc. (NYSE:AVNS) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,300 shares of the company’s stock after selling 10,200 shares during the quarter. Swiss National Bank’s holdings in Avanos Medical were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in Avanos Medical by 19.8% in the 4th quarter. Russell Investments Group Ltd. now owns 62,420 shares of the company’s stock worth $1,400,000 after purchasing an additional 10,316 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Avanos Medical by 4.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 29,084 shares of the company’s stock valued at $652,000 after acquiring an additional 1,262 shares in the last quarter. Foundry Partners LLC lifted its stake in Avanos Medical by 74.6% in the fourth quarter. Foundry Partners LLC now owns 371,029 shares of the company’s stock valued at $8,322,000 after acquiring an additional 158,473 shares during the last quarter. Kestrel Investment Management Corp bought a new stake in Avanos Medical in the fourth quarter worth approximately $3,265,000. Finally, Federated Hermes Inc. increased its stake in shares of Avanos Medical by 15.3% during the 4th quarter. Federated Hermes Inc. now owns 91,764 shares of the company’s stock worth $2,058,000 after purchasing an additional 12,170 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

Avanos Medical Price Performance

Shares of NYSE:AVNS opened at $19.97 on Friday. The business has a 50 day moving average price of $19.39 and a 200 day moving average price of $20.00. The company has a market cap of $916.70 million, a price-to-earnings ratio of -14.97 and a beta of 0.97. The company has a quick ratio of 1.47, a current ratio of 2.28 and a debt-to-equity ratio of 0.14. Avanos Medical, Inc. has a twelve month low of $17.24 and a twelve month high of $26.56.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). Avanos Medical had a positive return on equity of 4.10% and a negative net margin of 9.15%. The company had revenue of $166.10 million during the quarter, compared to analyst estimates of $162.90 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts predict that Avanos Medical, Inc. will post 1.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Avanos Medical in a research note on Tuesday, May 7th. StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th.

Insider Buying and Selling at Avanos Medical

In other news, CFO Michael Greiner sold 8,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $19.12, for a total value of $152,960.00. Following the completion of the transaction, the chief financial officer now directly owns 151,495 shares of the company’s stock, valued at approximately $2,896,584.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.90% of the company’s stock.

Avanos Medical Company Profile

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.