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

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

Shares of Avanos Medical stock opened at $32.92 on Friday. The stock has a market cap of $1.58 billion, a P/E ratio of 34.94 and a beta of 0.91. The stock’s 50 day simple moving average is $34.05 and its 200-day simple moving average is $39.35. Avanos Medical, Inc. has a 1-year low of $30.96 and a 1-year high of $53.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.80 and a quick ratio of 1.79.

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

AVNS has been the topic of several research analyst reports. KeyCorp lowered their price objective 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 lowered their price objective on Avanos Medical from $45.00 to $41.00 and set an “underweight” rating on the stock in a report on Wednesday, August 4th. Finally, Stephens cut Avanos Medical from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $60.00 to $45.00 in a report on Wednesday, August 4th. One research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $46.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVNS. BlackRock Inc. lifted its holdings in Avanos Medical by 31.4% in the second quarter. BlackRock Inc. now owns 7,372,494 shares of the company’s stock valued at $268,139,000 after acquiring an additional 1,761,426 shares during the last quarter. Vanguard Group Inc. raised its position in Avanos Medical by 13.6% in the second quarter. Vanguard Group Inc. now owns 5,096,248 shares of the company’s stock valued at $185,350,000 after purchasing an additional 611,984 shares during the period. Morgan Stanley raised its position in Avanos Medical by 256.9% in the second quarter. Morgan Stanley now owns 372,986 shares of the company’s stock valued at $13,565,000 after purchasing an additional 268,465 shares during the period. Nuveen Asset Management LLC raised its position in Avanos Medical by 87.8% in the second quarter. Nuveen Asset Management LLC now owns 543,968 shares of the company’s stock valued at $19,784,000 after purchasing an additional 254,354 shares during the period. Finally, RGM Capital LLC raised its position in Avanos Medical by 12.3% in the second quarter. RGM Capital LLC now owns 2,157,612 shares of the company’s stock valued at $78,472,000 after purchasing an additional 235,957 shares during the period. Hedge funds and other institutional investors own 91.25% of the company’s stock.

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.

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