Y Intercept Hong Kong Ltd Boosts Stock Position in Avanos Medical, Inc. $AVNS

Y Intercept Hong Kong Ltd grew its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 211.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,073 shares of the company’s stock after buying an additional 54,373 shares during the period. Y Intercept Hong Kong Ltd owned 0.17% of Avanos Medical worth $980,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AVNS. Armistice Capital LLC purchased a new stake in shares of Avanos Medical in the first quarter worth about $28,660,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Avanos Medical by 24.8% during 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 acquiring an additional 746,264 shares in the last quarter. Clark Estates Inc. NY purchased a new stake in shares of Avanos Medical during the 1st quarter worth approximately $7,077,000. Millennium Management LLC raised its holdings in shares of Avanos Medical by 508.3% during the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock worth $7,849,000 after acquiring an additional 457,703 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Avanos Medical during the 1st quarter worth approximately $6,056,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Avanos Medical

In related news, Director Gary Blackford acquired 40,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $10.99 per share, for a total transaction of $439,600.00. Following the completion of the acquisition, the director directly owned 40,000 shares in the company, valued at $439,600. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.64% of the company’s stock.

Avanos Medical Stock Performance

AVNS stock opened at $11.31 on Wednesday. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $21.12. The business has a 50-day moving average price of $11.74 and a 200 day moving average price of $11.93. The company has a market capitalization of $524.55 million, a P/E ratio of -1.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.58.

Avanos Medical (NYSE:AVNS) last released 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). The business had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $165.50 million. Avanos Medical had a positive return on equity of 6.16% and a negative net margin of 66.89%.During the same period last year, the company earned $0.34 earnings per share. As a group, equities research analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

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.