Northern Trust Corp Buys 24,720 Shares of Avanos Medical, Inc. (NYSE:AVNS)

Northern Trust Corp lifted its holdings in Avanos Medical, Inc. (NYSE:AVNS) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 526,763 shares of the company’s stock after acquiring an additional 24,720 shares during the period. Northern Trust Corp owned 1.15% of Avanos Medical worth $8,386,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of Avanos Medical by 446.2% in the third quarter. Barclays PLC now owns 96,194 shares of the company’s stock worth $2,311,000 after acquiring an additional 78,583 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Avanos Medical by 15.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 128,567 shares of the company’s stock worth $2,047,000 after acquiring an additional 17,504 shares during the period. Vanguard Group Inc. boosted its stake in shares of Avanos Medical by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company’s stock worth $85,009,000 after acquiring an additional 19,476 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Avanos Medical by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 69,571 shares of the company’s stock worth $1,672,000 after acquiring an additional 4,472 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Avanos Medical by 141.3% in the fourth quarter. Empowered Funds LLC now owns 153,834 shares of the company’s stock worth $2,449,000 after buying an additional 90,091 shares in the last quarter. Institutional investors own 95.17% of the company’s stock.

Insider Buying and Selling

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

Avanos Medical Price Performance

NYSE:AVNS opened at $13.12 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $606.54 million, a P/E ratio of 38.58 and a beta of 1.13. Avanos Medical, Inc. has a 12 month low of $11.84 and a 12 month high of $25.36. The business’s 50-day moving average is $13.19 and its 200 day moving average is $15.70.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $161.75 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.