Janney Montgomery Scott LLC Sells 5,237 Shares of Avanos Medical, Inc. $AVNS

Janney Montgomery Scott LLC reduced its holdings in Avanos Medical, Inc. (NYSE:AVNS) by 26.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,209 shares of the company’s stock after selling 5,237 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Avanos Medical were worth $174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Avanos Medical by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 244,063 shares of the company’s stock worth $3,497,000 after purchasing an additional 6,269 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Avanos Medical by 24.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,757,576 shares of the company’s stock worth $53,847,000 after purchasing an additional 746,264 shares in the last quarter. Nuveen LLC purchased a new position in shares of Avanos Medical in the 1st quarter worth about $1,839,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Avanos Medical in the 2nd quarter worth about $262,000. Finally, SG Americas Securities LLC purchased a new position in shares of Avanos Medical in the 1st quarter worth about $344,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gary Blackford acquired 40,000 shares of Avanos Medical stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $10.99 per share, with a total value of $439,600.00. Following the transaction, the director directly owned 40,000 shares in the company, valued at approximately $439,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.64% of the stock is currently owned by company insiders.

Avanos Medical Stock Down 1.5%

AVNS stock opened at $11.58 on Wednesday. Avanos Medical, Inc. has a twelve month low of $9.30 and a twelve month high of $22.86. The company has a quick ratio of 1.58, a current ratio of 2.64 and a debt-to-equity ratio of 0.12. The firm has a market cap of $537.31 million, a PE ratio of -1.15 and a beta of 1.15. The business has a 50 day moving average of $11.70 and a 200 day moving average of $12.01.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $175.00 million for the quarter, compared to the consensus estimate of $165.50 million. During the same period last year, the business earned $0.34 EPS. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. On average, research analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avanos Medical in a report on Tuesday, October 14th. Wall Street Zen cut Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Zacks Research upgraded Avanos Medical to a “hold” rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.