Avanos Medical (NYSE:AVNS) Shares Up 0% – Should You Buy?

Avanos Medical, Inc. (NYSE:AVNS)’s share price shot up 0% during trading on Thursday . The stock traded as high as $24.94 and last traded at $24.9290. Approximately 285,312 shares changed hands during trading, a decline of 68% from the average session volume of 893,350 shares. The stock had previously closed at $24.92.

Wall Street Analyst Weigh In

AVNS has been the topic of several recent research reports. Weiss Ratings upgraded shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Zacks Research raised Avanos Medical from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Avanos Medical Trading Up 0.0%

The firm has a market capitalization of $1.17 billion, a P/E ratio of -15.48 and a beta of 1.57. The business’s 50 day moving average is $24.86 and its two-hundred day moving average is $18.25. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11.

Avanos Medical (NYSE:AVNS) last announced its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $182.20 million during the quarter, compared to analyst estimates of $170.00 million. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. Avanos Medical’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Analysts expect that Avanos Medical, Inc. will post 1.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Avanos Medical by 132.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock valued at $28,000 after acquiring an additional 1,423 shares during the period. Russell Investments Group Ltd. lifted its position in Avanos Medical by 969.3% in the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after purchasing an additional 2,307 shares during the period. Wexford Capital LP acquired a new stake in Avanos Medical in the third quarter worth approximately $70,000. Tower Research Capital LLC TRC boosted its stake in Avanos Medical by 433.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock valued at $77,000 after purchasing an additional 5,083 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Avanos Medical by 15.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company’s stock valued at $89,000 after purchasing an additional 846 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors.

About Avanos Medical

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.