Public Sector Pension Investment Board Acquires Shares of 98,240 Avanos Medical, Inc. (NYSE:AVNS)

Public Sector Pension Investment Board acquired a new stake in Avanos Medical, Inc. (NYSE:AVNS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 98,240 shares of the company’s stock, valued at approximately $3,573,000. Public Sector Pension Investment Board owned approximately 0.20% of Avanos Medical as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Federated Hermes Inc. increased its stake in shares of Avanos Medical by 3.3% in the 1st quarter. Federated Hermes Inc. now owns 9,542 shares of the company’s stock worth $417,000 after acquiring an additional 302 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Avanos Medical by 6.5% in the 1st quarter. Prudential Financial Inc. now owns 9,333 shares of the company’s stock worth $408,000 after acquiring an additional 566 shares during the last quarter. North Star Asset Management Inc. increased its stake in shares of Avanos Medical by 2.4% in the 2nd quarter. North Star Asset Management Inc. now owns 26,361 shares of the company’s stock worth $959,000 after acquiring an additional 626 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Avanos Medical by 1.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 47,029 shares of the company’s stock worth $2,057,000 after acquiring an additional 669 shares during the last quarter. Finally, Eaton Vance Management acquired a new stake in shares of Avanos Medical in the 1st quarter worth $37,000. 91.25% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:AVNS opened at $32.15 on Thursday. The business has a 50-day moving average price of $32.57 and a 200 day moving average price of $37.39. The company has a current ratio of 2.80, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 34.45 and a beta of 0.91. Avanos Medical, Inc. has a 12-month low of $30.70 and a 12-month high of $53.61.

Avanos Medical (NYSE:AVNS) last released its earnings results on Monday, August 2nd. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $186.40 million during the quarter, compared to analyst estimates of $180.56 million. Avanos Medical had a net margin of 0.33% and a return on equity of 3.52%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. As a group, equities research analysts predict that Avanos Medical, Inc. will post 1.15 earnings per share for the current fiscal year.

AVNS has been the subject of a number of recent research reports. KeyCorp cut their target price on Avanos Medical from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, August 4th. They noted that the move was a valuation call. Morgan Stanley cut their price objective on Avanos Medical from $45.00 to $41.00 and set an “underweight” rating for the company in a research report on Wednesday, August 4th. Finally, Stephens downgraded Avanos Medical from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $60.00 to $45.00 in a research report on Wednesday, August 4th.

In other news, Director Patrick J. Oleary bought 5,000 shares of the company’s stock in a transaction on Wednesday, September 15th. The stock was bought at an average cost of $31.63 per share, with a total value of $158,150.00. Following the transaction, the director now directly owns 31,347 shares in the company, valued at approximately $991,505.61. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.99% of the company’s stock.

Avanos Medical 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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Institutional Ownership by Quarter for Avanos Medical (NYSE:AVNS)

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