Avanos Medical Inc (AVNS) Holdings Lessened by Associated Banc Corp

Associated Banc Corp trimmed its holdings in Avanos Medical Inc (NYSE:AVNS) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,217 shares of the company’s stock after selling 232 shares during the period. Associated Banc Corp owned about 0.10% of Avanos Medical worth $2,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVNS. Paradice Investment Management LLC increased its holdings in shares of Avanos Medical by 119.5% in the 4th quarter. Paradice Investment Management LLC now owns 1,492,595 shares of the company’s stock valued at $66,853,000 after acquiring an additional 812,659 shares during the last quarter. Norges Bank bought a new stake in shares of Avanos Medical in the 4th quarter valued at approximately $33,253,000. Victory Capital Management Inc. increased its holdings in shares of Avanos Medical by 79.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,673,175 shares of the company’s stock valued at $74,942,000 after acquiring an additional 740,450 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Avanos Medical in the 1st quarter valued at approximately $16,219,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Avanos Medical by 416.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 346,095 shares of the company’s stock valued at $15,502,000 after acquiring an additional 279,054 shares during the last quarter. 94.77% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on AVNS. Zacks Investment Research downgraded Avanos Medical from a “hold” rating to a “sell” rating in a report on Monday, May 6th. ValuEngine downgraded Avanos Medical from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Morgan Stanley set a $47.00 price objective on Avanos Medical and gave the stock a “sell” rating in a research note on Wednesday, May 8th. Finally, KeyCorp lowered their price objective on Avanos Medical from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $63.00.

Shares of AVNS opened at $43.02 on Friday. The firm has a market cap of $2.04 billion, a P/E ratio of 52.46 and a beta of 1.41. The company has a quick ratio of 2.22, a current ratio of 2.77 and a debt-to-equity ratio of 0.24. Avanos Medical Inc has a 12 month low of $38.00 and a 12 month high of $72.96.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The company had revenue of $164.20 million for the quarter, compared to the consensus estimate of $163.72 million. Avanos Medical had a return on equity of 4.92% and a net margin of 2.58%. Avanos Medical’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, equities analysts forecast that Avanos Medical Inc will post 1.23 earnings per share for the current fiscal year.

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Avanos Medical Profile

Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.

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Institutional Ownership by Quarter for Avanos Medical (NYSE:AVNS)

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