Avanos Medical (NYSE:AVNS) Downgraded by Wall Street Zen to Buy

Avanos Medical (NYSE:AVNS) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Avanos Medical Price Performance

NYSE:AVNS opened at $10.78 on Friday. Avanos Medical has a one year low of $9.30 and a one year high of $25.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.56 and a current ratio of 2.64. The firm has a market cap of $499.96 million, a price-to-earnings ratio of -1.07 and a beta of 1.12. The firm’s fifty day moving average is $11.92 and its two-hundred day moving average is $13.41.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Avanos Medical had a negative net margin of 66.89% and a positive return on equity of 6.16%. The business had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $165.50 million. During the same period in the previous year, the company posted $0.34 earnings per share. Research analysts expect that Avanos Medical will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State of Wyoming raised its position in shares of Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company’s stock worth $82,000 after purchasing an additional 2,923 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Avanos Medical by 493.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock worth $129,000 after purchasing an additional 6,714 shares during the last quarter. Heritage Family Offices LLP purchased a new stake in Avanos Medical during the 1st quarter valued at about $146,000. EP Wealth Advisors LLC grew its stake in Avanos Medical by 14.6% during the 4th quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company’s stock valued at $161,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Mariner LLC grew its stake in Avanos Medical by 18.0% during the 4th quarter. Mariner LLC now owns 10,655 shares of the company’s stock valued at $170,000 after acquiring an additional 1,625 shares in the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.

About Avanos Medical

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.