Avanos Medical (NYSE:AVNS) Hits New 12-Month Low at $23.45

Avanos Medical, Inc. (NYSE:AVNSGet Rating) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.45 and last traded at $23.45, with a volume of 624 shares changing hands. The stock had previously closed at $24.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp lowered their price target on Avanos Medical from $41.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Morgan Stanley lowered their price target on Avanos Medical from $33.00 to $28.00 and set an “underweight” rating for the company in a report on Friday, July 15th. StockNews.com upgraded Avanos Medical from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Finally, Stifel Nicolaus lowered their price target on Avanos Medical from $37.00 to $28.00 in a report on Monday, July 18th.

Avanos Medical Stock Performance

The stock has a market capitalization of $1.15 billion, a P/E ratio of -151.62 and a beta of 0.87. The stock has a 50 day moving average of $27.14 and a 200 day moving average of $29.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 2.89.

Avanos Medical (NYSE:AVNSGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $203.00 million during the quarter, compared to the consensus estimate of $208.28 million. Avanos Medical had a positive return on equity of 5.27% and a negative net margin of 1.02%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Equities analysts predict that Avanos Medical, Inc. will post 1.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Avanos Medical by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 5,334,332 shares of the company’s stock worth $178,700,000 after acquiring an additional 112,546 shares during the period. Paradice Investment Management LLC lifted its holdings in shares of Avanos Medical by 2.3% in the fourth quarter. Paradice Investment Management LLC now owns 3,158,415 shares of the company’s stock valued at $109,502,000 after buying an additional 71,186 shares during the period. RGM Capital LLC lifted its holdings in shares of Avanos Medical by 0.7% in the second quarter. RGM Capital LLC now owns 2,978,889 shares of the company’s stock valued at $81,443,000 after buying an additional 21,264 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Avanos Medical by 12.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,365,949 shares of the company’s stock valued at $79,260,000 after buying an additional 271,105 shares during the period. Finally, State Street Corp lifted its holdings in shares of Avanos Medical by 0.5% in the first quarter. State Street Corp now owns 2,018,705 shares of the company’s stock valued at $67,627,000 after buying an additional 9,410 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

About Avanos Medical

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Avanos Medical, Inc, a medical technology company, focuses on delivering 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; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.

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