Mint Tower Capital Management B.V. Makes New Investment in Avanos Medical, Inc. $AVNS

Mint Tower Capital Management B.V. bought a new stake in Avanos Medical, Inc. (NYSE:AVNS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 53,052 shares of the company’s stock, valued at approximately $1,320,000.

Several other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Avanos Medical during the 2nd quarter worth $48,000. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 1,423 shares during the period. Russell Investments Group Ltd. lifted its stake 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. Longfellow Investment Management Co. LLC purchased a new stake in Avanos Medical during the second quarter worth about $75,000. Finally, Wexford Capital LP purchased a new stake in Avanos Medical during the third quarter worth about $70,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Price Performance

Shares of NYSE AVNS opened at $24.99 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $24.96 and its 200 day moving average price is $21.40. Avanos Medical, Inc. has a 52 week low of $9.30 and a 52 week high of $25.49. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -15.52 and a beta of 1.57.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Avanos Medical in a research report on Monday, July 20th. Zacks Research raised Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

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.