State of Alaska Department of Revenue cut its stake in shares of Avanos Medical, Inc. (NYSE:AVNS – Free Report) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,706 shares of the company’s stock after selling 1,135 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of Avanos Medical worth $784,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AVNS. JPMorgan Chase & Co. grew its holdings in shares of Avanos Medical by 58.3% in the first quarter. JPMorgan Chase & Co. now owns 79,343 shares of the company’s stock valued at $2,658,000 after purchasing an additional 29,216 shares in the last quarter. US Bancorp DE grew its holdings in shares of Avanos Medical by 12.3% in the first quarter. US Bancorp DE now owns 11,468 shares of the company’s stock valued at $383,000 after purchasing an additional 1,259 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Avanos Medical by 12.3% in the first quarter. Citigroup Inc. now owns 41,767 shares of the company’s stock valued at $1,399,000 after purchasing an additional 4,573 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Avanos Medical in the first quarter valued at approximately $378,000. Finally, MetLife Investment Management LLC grew its holdings in shares of Avanos Medical by 50.8% in the first quarter. MetLife Investment Management LLC now owns 27,642 shares of the company’s stock valued at $926,000 after purchasing an additional 9,311 shares in the last quarter. 93.84% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
AVNS has been the subject of a number of research reports. KeyCorp cut shares of Avanos Medical from an “overweight” rating to a “sector weight” rating in a report on Tuesday, July 25th. StockNews.com assumed coverage on shares of Avanos Medical in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.
Avanos Medical Stock Up 0.2 %
Shares of NYSE:AVNS opened at $18.89 on Wednesday. The company has a market capitalization of $885.43 million, a PE ratio of -24.22, a P/E/G ratio of 1.44 and a beta of 0.89. The company has a current ratio of 3.16, a quick ratio of 2.23 and a debt-to-equity ratio of 0.16. Avanos Medical, Inc. has a twelve month low of $18.23 and a twelve month high of $31.99. The firm has a 50 day simple moving average of $20.73 and a 200-day simple moving average of $24.09.
Avanos Medical (NYSE:AVNS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.10). The company had revenue of $169.40 million for the quarter, compared to analysts’ expectations of $186.30 million. Avanos Medical had a positive return on equity of 5.49% and a negative net margin of 4.61%. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, equities analysts predict that Avanos Medical, Inc. will post 1.12 EPS for the current fiscal year.
Avanos Medical Profile
Avanos Medical, Inc, a medical technology company, focuses on delivering medical device solutions 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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