Goldman Sachs Group Inc. Trims Stake in Avanos Medical, Inc. $AVNS

Goldman Sachs Group Inc. lowered its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 8.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,153 shares of the company’s stock after selling 25,466 shares during the quarter. Goldman Sachs Group Inc. owned about 0.64% of Avanos Medical worth $4,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State of Wyoming grew its holdings in Avanos Medical by 132.0% in the fourth 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 period. Heritage Family Offices LLP purchased a new stake in Avanos Medical in the first quarter worth about $146,000. EntryPoint Capital LLC purchased a new stake in Avanos Medical in the first quarter worth about $181,000. ProShare Advisors LLC grew its holdings in shares of Avanos Medical by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 13,693 shares of the company’s stock valued at $218,000 after buying an additional 4,210 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of Avanos Medical by 46.3% during the first quarter. EP Wealth Advisors LLC now owns 14,783 shares of the company’s stock valued at $212,000 after buying an additional 4,675 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVNS. Zacks Research upgraded shares of Avanos Medical to a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Insider Activity at Avanos Medical

In other news, Director Gary Blackford acquired 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $10.99 per share, for a total transaction of $439,600.00. Following the transaction, the director directly owned 40,000 shares of the company’s stock, valued at approximately $439,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.64% of the stock is owned by insiders.

Avanos Medical Stock Down 0.4%

AVNS opened at $11.85 on Thursday. The company has a current ratio of 2.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $25.36. The company has a market capitalization of $549.61 million, a PE ratio of -1.18 and a beta of 1.12. The firm’s 50 day simple moving average is $11.62 and its two-hundred day simple moving average is $12.53.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Avanos Medical had a positive return on equity of 6.16% and a negative net margin of 66.89%.The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. As a group, equities analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current year.

Avanos Medical 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.