Bank of New York Mellon Corp Raises Position in Avanos Medical, Inc. (NYSE:AVNS)

Bank of New York Mellon Corp raised its stake in Avanos Medical, Inc. (NYSE:AVNS) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 463,159 shares of the company’s stock after purchasing an additional 1,569 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of Avanos Medical worth $11,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Meeder Asset Management Inc. grew its holdings in shares of Avanos Medical by 1,702.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,911 shares of the company’s stock valued at $52,000 after acquiring an additional 1,805 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Avanos Medical by 23.9% during the 1st quarter. Captrust Financial Advisors now owns 2,704 shares of the company’s stock valued at $91,000 after purchasing an additional 521 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Avanos Medical during the 2nd quarter valued at $137,000. Lazard Asset Management LLC boosted its holdings in shares of Avanos Medical by 10.2% in the 4th quarter. Lazard Asset Management LLC now owns 6,225 shares of the company’s stock worth $168,000 after buying an additional 575 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Avanos Medical by 188.8% during the third quarter. Tower Research Capital LLC TRC now owns 6,357 shares of the company’s stock valued at $139,000 after buying an additional 4,156 shares during the period. 93.84% of the stock is owned by hedge funds and other institutional investors.

Avanos Medical Price Performance

NYSE AVNS opened at $21.41 on Friday. The company has a market cap of $994.07 million, a PE ratio of -17.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. Avanos Medical, Inc. has a 52 week low of $17.24 and a 52 week high of $31.99. The company has a quick ratio of 2.16, a current ratio of 3.07 and a debt-to-equity ratio of 0.21. The firm’s 50-day simple moving average is $19.89 and its two-hundred day simple moving average is $22.60.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Avanos Medical had a negative net margin of 7.39% and a positive return on equity of 5.22%. The business had revenue of $171.30 million for the quarter, compared to analysts’ expectations of $169.60 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts predict that Avanos Medical, Inc. will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVNS. KeyCorp downgraded shares of Avanos Medical from an “overweight” rating to a “sector weight” rating in a report on Tuesday, July 25th. StockNews.com started coverage on Avanos Medical in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, TheStreet lowered Avanos Medical from a “c-” rating to a “d” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.50.

Avanos Medical Profile

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.