Avanos Medical, Inc. (NYSE:AVNS) Sees Large Growth in Short Interest

Avanos Medical, Inc. (NYSE:AVNS) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 3,218,424 shares, a growth of 23.1% from the December 31st total of 2,613,713 shares. Approximately 7.1% of the company’s shares are sold short. Based on an average daily volume of 597,584 shares, the short-interest ratio is currently 5.4 days. Based on an average daily volume of 597,584 shares, the short-interest ratio is currently 5.4 days. Approximately 7.1% of the company’s shares are sold short.

Avanos Medical Price Performance

AVNS opened at $13.40 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.36 and a current ratio of 2.38. The stock has a market capitalization of $622.17 million, a PE ratio of -1.32 and a beta of 1.09. The stock’s 50 day moving average price is $11.95 and its 200-day moving average price is $11.69. Avanos Medical has a 52-week low of $9.30 and a 52-week high of $17.54.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. The company had revenue of $177.80 million during the quarter, compared to analyst estimates of $164.50 million. Avanos Medical had a positive return on equity of 6.21% and a negative net margin of 67.00%.The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities research analysts predict that Avanos Medical will post 1.32 EPS for the current year.

Insider Transactions at Avanos Medical

In other Avanos Medical news, SVP Kerr Holbrook sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $11.00, for a total transaction of $165,000.00. Following the completion of the sale, the senior vice president directly owned 83,860 shares in the company, valued at $922,460. This represents a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.64% of the stock is currently owned by insiders.

Institutional Trading of Avanos Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in shares of Avanos Medical by 46.4% during the 1st quarter. AQR Capital Management LLC now owns 192,864 shares of the company’s stock worth $2,700,000 after acquiring an additional 61,095 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Avanos Medical by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock valued at $386,000 after purchasing an additional 1,121 shares in the last quarter. Millennium Management LLC boosted its position in shares of Avanos Medical by 508.3% during the first quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock valued at $7,849,000 after purchasing an additional 457,703 shares in the last quarter. Empowered Funds LLC grew its stake in Avanos Medical by 5.4% in the first quarter. Empowered Funds LLC now owns 162,182 shares of the company’s stock worth $2,324,000 after purchasing an additional 8,348 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Avanos Medical by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,810 shares of the company’s stock worth $2,018,000 after purchasing an additional 20,541 shares in the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AVNS shares. Wall Street Zen raised Avanos Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Avanos Medical in a research note on Monday, December 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Avanos Medical Company Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.