Teza Capital Management LLC Acquires New Position in Avanos Medical Inc (NYSE:AVNS)

Teza Capital Management LLC acquired a new stake in Avanos Medical Inc (NYSE:AVNS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,773 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVNS. Bartlett & Co. LLC acquired a new stake in Avanos Medical in the first quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Avanos Medical by 61.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,121 shares of the company’s stock worth $111,000 after acquiring an additional 1,576 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Avanos Medical during the second quarter worth $123,000. First Trust Advisors LP increased its position in shares of Avanos Medical by 18.7% during the first quarter. First Trust Advisors LP now owns 7,531 shares of the company’s stock worth $321,000 after acquiring an additional 1,185 shares in the last quarter. Finally, CWM Advisors LLC bought a new stake in shares of Avanos Medical during the first quarter worth $227,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. KeyCorp lowered their price objective on shares of Avanos Medical from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Morgan Stanley increased their price objective on shares of Avanos Medical from $29.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $35.33.

Avanos Medical stock opened at $32.16 on Wednesday. The company has a market cap of $1.50 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 7.55 and a beta of 1.18. Avanos Medical Inc has a 1-year low of $19.46 and a 1-year high of $48.07. The company has a fifty day simple moving average of $31.39 and a 200 day simple moving average of $29.49. The company has a current ratio of 2.94, a quick ratio of 1.95 and a debt-to-equity ratio of 0.24.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, August 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.23. The business had revenue of $163.70 million during the quarter, compared to the consensus estimate of $147.90 million. Avanos Medical had a negative net margin of 2.40% and a positive return on equity of 3.52%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. On average, equities research analysts forecast that Avanos Medical Inc will post 0.66 EPS for the current year.

About Avanos Medical

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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