Patrick J. Oleary Acquires 5,000 Shares of Avanos Medical, Inc. (NYSE:AVNS) Stock

Avanos Medical, Inc. (NYSE:AVNS) Director Patrick J. Oleary purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, September 15th. The shares were acquired at an average cost of $31.63 per share, for a total transaction of $158,150.00. Following the completion of the acquisition, the director now owns 31,347 shares of the company’s stock, valued at $991,505.61. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Avanos Medical stock opened at $32.92 on Friday. The stock has a 50 day moving average of $34.05 and a 200 day moving average of $39.35. Avanos Medical, Inc. has a 12 month low of $30.96 and a 12 month high of $53.61. The firm has a market cap of $1.58 billion, a PE ratio of 34.94 and a beta of 0.91. The company has a current ratio of 2.80, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Monday, August 2nd. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Avanos Medical had a net margin of 0.33% and a return on equity of 3.52%. The firm had revenue of $186.40 million for the quarter, compared to the consensus estimate of $180.56 million. During the same period in the previous year, the company posted $0.13 earnings per share. Avanos Medical’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts forecast that Avanos Medical, Inc. will post 1.16 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its position in Avanos Medical by 32.9% during the second quarter. Parametric Portfolio Associates LLC now owns 100,908 shares of the company’s stock valued at $3,670,000 after purchasing an additional 24,984 shares during the period. Comerica Bank raised its holdings in shares of Avanos Medical by 69.0% in the second quarter. Comerica Bank now owns 45,480 shares of the company’s stock worth $1,479,000 after buying an additional 18,575 shares during the period. Morgan Stanley raised its holdings in shares of Avanos Medical by 256.9% in the second quarter. Morgan Stanley now owns 372,986 shares of the company’s stock worth $13,565,000 after buying an additional 268,465 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Avanos Medical by 208.2% in the second quarter. Thrivent Financial for Lutherans now owns 39,299 shares of the company’s stock worth $1,429,000 after buying an additional 26,548 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Avanos Medical by 21.2% in the second quarter. Invesco Ltd. now owns 335,053 shares of the company’s stock worth $12,186,000 after buying an additional 58,537 shares during the period. Institutional investors and hedge funds own 91.25% of the company’s stock.

A number of equities research analysts have commented on the company. KeyCorp decreased their price target on Avanos Medical from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, August 4th. They noted that the move was a valuation call. Morgan Stanley decreased their target price on Avanos Medical from $45.00 to $41.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 4th. Finally, Stephens lowered Avanos Medical from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $60.00 to $45.00 in a research note on Wednesday, August 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Avanos Medical currently has an average rating of “Buy” and a consensus target price of $46.00.

About Avanos Medical

Avanos Medical, Inc operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients’ quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care.

Featured Story: What are the advantages of the Stochastic Momentum Index?

Receive News & Ratings for Avanos Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avanos Medical and related companies with MarketBeat.com's FREE daily email newsletter.