Swiss National Bank trimmed its position in shares of Avanos Medical, Inc. (NYSE:AVNS) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,700 shares of the company’s stock after selling 3,600 shares during the period. Swiss National Bank’s holdings in Avanos Medical were worth $3,844,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Eaton Vance Management purchased a new stake in shares of Avanos Medical during the first quarter worth approximately $37,000. Hilton Capital Management LLC purchased a new stake in shares of Avanos Medical during the first quarter worth approximately $202,000. XTX Topco Ltd purchased a new stake in shares of Avanos Medical during the first quarter worth approximately $204,000. Quadrature Capital Ltd purchased a new stake in shares of Avanos Medical during the first quarter worth approximately $206,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Avanos Medical during the first quarter worth approximately $222,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
AVNS has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Avanos Medical from $45.00 to $41.00 and set an “underweight” rating for the company in a report on Wednesday, August 4th. KeyCorp lowered their price target on Avanos Medical from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, August 4th. They noted that the move was a valuation call. Finally, Stephens downgraded Avanos Medical from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $60.00 to $45.00 in a report on Wednesday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Avanos Medical currently has a consensus rating of “Buy” and an average target price of $46.00.
Avanos Medical (NYSE:AVNS) last issued its quarterly 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). Avanos Medical had a return on equity of 3.52% and a net margin of 0.33%. The company had revenue of $186.40 million for the quarter, compared to analyst estimates of $180.56 million. During the same period in the prior year, the business earned $0.13 earnings per share. Avanos Medical’s revenue for the quarter was up 13.9% compared to the same quarter last year. Research analysts predict that Avanos Medical, Inc. will post 1.16 EPS for the current fiscal year.
In related news, Director Patrick J. Oleary purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The stock was purchased at an average cost of $31.63 per share, with a total value of $158,150.00. Following the completion of the acquisition, the director now directly owns 31,347 shares in the company, valued at $991,505.61. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.99% of the stock is owned by company insiders.
Avanos Medical Company Profile
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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