Avanos Medical (NYSE:AVNS) Hits New 52-Week Low – Here’s Why

Avanos Medical, Inc. (NYSE:AVNS) hit a new 52-week low during trading on Monday . The stock traded as low as $12.57 and last traded at $13.22, with a volume of 343 shares traded. The stock had previously closed at $13.42.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Avanos Medical from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th.

Avanos Medical Stock Down 3.1 %

The firm’s 50-day simple moving average is $15.48 and its 200-day simple moving average is $17.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22. The company has a market capitalization of $598.27 million, a price-to-earnings ratio of 37.93 and a beta of 1.15.

Avanos Medical (NYSE:AVNS) last released 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 business had revenue of $179.60 million for the quarter, compared to the consensus estimate of $177.23 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. Sell-side analysts forecast that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

Insider Activity at Avanos Medical

In related news, SVP Kerr Holbrook sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.25, for a total value of $106,750.00. Following the sale, the senior vice president now owns 82,047 shares of the company’s stock, valued at $1,251,216.75. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Avanos Medical in the 3rd quarter worth approximately $42,000. Quantbot Technologies LP acquired a new position in Avanos Medical during the fourth quarter worth $64,000. State of Wyoming lifted its holdings 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 acquiring an additional 2,923 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Avanos Medical by 493.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock valued at $129,000 after purchasing an additional 6,714 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Avanos Medical in the 3rd quarter worth about $212,000. Institutional investors own 95.17% 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.