Norges Bank Takes $7.02 Million Position in Avanos Medical, Inc. (NYSE:AVNS)

Norges Bank bought a new stake in shares of Avanos Medical, Inc. (NYSE:AVNSFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 312,790 shares of the company’s stock, valued at approximately $7,016,000. Norges Bank owned about 0.67% of Avanos Medical as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in AVNS. William Blair Investment Management LLC purchased a new position in shares of Avanos Medical during the third quarter valued at approximately $22,134,000. RGM Capital LLC lifted its holdings in shares of Avanos Medical by 6.8% during the third quarter. RGM Capital LLC now owns 2,951,691 shares of the company’s stock valued at $59,683,000 after purchasing an additional 189,017 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Avanos Medical by 74.6% during the fourth quarter. Foundry Partners LLC now owns 371,029 shares of the company’s stock valued at $8,322,000 after purchasing an additional 158,473 shares during the last quarter. Kestrel Investment Management Corp bought a new stake in shares of Avanos Medical during the fourth quarter valued at approximately $3,265,000. Finally, Jupiter Asset Management Ltd. increased its position in shares of Avanos Medical by 234.2% during the third quarter. Jupiter Asset Management Ltd. now owns 149,983 shares of the company’s stock valued at $3,033,000 after acquiring an additional 105,100 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Price Performance

Shares of AVNS opened at $20.16 on Friday. The company has a market capitalization of $925.34 million, a P/E ratio of -15.16 and a beta of 0.98. The company has a quick ratio of 1.47, a current ratio of 2.28 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $19.50 and a 200 day moving average of $19.92. Avanos Medical, Inc. has a twelve month low of $17.24 and a twelve month high of $26.56.

Avanos Medical (NYSE:AVNSGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Avanos Medical had a positive return on equity of 4.10% and a negative net margin of 9.15%. The company had revenue of $166.10 million during the quarter, compared to the consensus estimate of $162.90 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Avanos Medical, Inc. will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of Avanos Medical stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the completion of the sale, the chief financial officer now owns 151,495 shares of the company’s stock, valued at approximately $2,896,584.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AVNS shares. JMP Securities reissued a “market perform” rating on shares of Avanos Medical in a research report on Tuesday, May 7th. StockNews.com raised shares of Avanos Medical from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th.

View Our Latest Report on AVNS

About Avanos Medical

(Free Report)

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.

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Institutional Ownership by Quarter for Avanos Medical (NYSE:AVNS)

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