Confluence Investment Management LLC Cuts Holdings in Avanos Medical, Inc. (NYSE:AVNS)

Confluence Investment Management LLC lessened its stake in Avanos Medical, Inc. (NYSE:AVNS) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 466,994 shares of the company’s stock after selling 14,048 shares during the quarter. Confluence Investment Management LLC’s holdings in Avanos Medical were worth $20,426,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Avanos Medical during the 4th quarter worth $445,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Avanos Medical during the 4th quarter worth about $371,000. Brown Advisory Inc. purchased a new position in shares of Avanos Medical in the 4th quarter valued at about $236,000. Schonfeld Strategic Advisors LLC raised its position in shares of Avanos Medical by 4.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 69,544 shares of the company’s stock worth $2,310,000 after acquiring an additional 3,142 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Avanos Medical by 57.7% during the 4th quarter. ProShare Advisors LLC now owns 14,298 shares of the company’s stock worth $656,000 after acquiring an additional 5,234 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Avanos Medical from a “hold” rating to a “sell” rating and set a $50.00 price target on the stock. in a research note on Wednesday, January 27th. Morgan Stanley boosted their price target on shares of Avanos Medical from $36.00 to $45.00 and gave the company an “underweight” rating in a research report on Tuesday, December 15th. Finally, KeyCorp upped their price objective on shares of Avanos Medical from $47.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, January 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $45.00.

Shares of AVNS traded down $0.69 during mid-day trading on Thursday, hitting $42.90. 113,033 shares of the company’s stock were exchanged, compared to its average volume of 246,675. The business’s 50 day moving average is $46.03 and its two-hundred day moving average is $43.62. Avanos Medical, Inc. has a fifty-two week low of $24.71 and a fifty-two week high of $53.61. The firm has a market capitalization of $2.06 billion, a P/E ratio of 147.93, a P/E/G ratio of 6.50 and a beta of 1.12. The company has a current ratio of 3.16, a quick ratio of 2.14 and a debt-to-equity ratio of 0.19.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Wednesday, February 17th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.06. Avanos Medical had a net margin of 1.93% and a return on equity of 3.20%. The business had revenue of $185.00 million for the quarter, compared to the consensus estimate of $183.77 million. On average, equities research analysts forecast that Avanos Medical, Inc. will post 0.73 earnings per share for the current year.

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 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; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands.

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

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