Avanos Medical, Inc. (NYSE:AVNS) Sees Significant Growth in Short Interest

Avanos Medical, Inc. (NYSE:AVNS) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 888,700 shares, an increase of 25.7% from the February 13th total of 707,000 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 492,300 shares, the short-interest ratio is presently 1.8 days.

Avanos Medical Price Performance

AVNS traded up $0.19 during trading hours on Monday, hitting $14.65. The company’s stock had a trading volume of 946,618 shares, compared to its average volume of 280,668. The stock has a market cap of $673.81 million, a price-to-earnings ratio of 43.08 and a beta of 1.17. The business’s 50-day moving average price is $15.90 and its 200-day moving average price is $18.98. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. Avanos Medical has a 12 month low of $14.25 and a 12 month high of $25.36.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $179.60 million for the quarter, compared to the consensus estimate of $177.23 million. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. Sell-side analysts expect that Avanos Medical will post 1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Avanos Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th.

Insider Activity

In other news, SVP Kerr Holbrook sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.25, for a total transaction of $106,750.00. Following the completion of the transaction, the senior vice president now owns 82,047 shares in the company, valued at $1,251,216.75. This trade represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Avanos Medical

Several institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Avanos Medical during the 3rd quarter worth about $42,000. KBC Group NV lifted its stake in Avanos Medical by 63.0% in the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after purchasing an additional 1,095 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Avanos Medical during the fourth quarter valued at approximately $64,000. State of Wyoming grew its stake in shares of Avanos Medical by 132.0% during the fourth quarter. State of Wyoming now owns 5,137 shares of the company’s stock valued at $82,000 after buying an additional 2,923 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Avanos Medical by 493.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock valued at $129,000 after buying an additional 6,714 shares during the last quarter. 95.17% of the stock is owned by institutional investors.

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.