Avanos Medical, Inc. (NYSE:AVNS) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 1.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 256,814 shares of the company’s stock after acquiring an additional 3,550 shares during the period. Principal Financial Group Inc. owned about 0.56% of Avanos Medical worth $5,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AVNS. FMR LLC lifted its position in shares of Avanos Medical by 5.8% during the 3rd quarter. FMR LLC now owns 164,841 shares of the company’s stock valued at $3,333,000 after acquiring an additional 8,966 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Avanos Medical by 2.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,722 shares of the company’s stock valued at $419,000 after acquiring an additional 504 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Avanos Medical in the third quarter valued at $759,000. Quadrature Capital Ltd purchased a new stake in shares of Avanos Medical in the third quarter valued at $281,000. Finally, Gladius Capital Management LP purchased a new stake in shares of Avanos Medical in the third quarter valued at $30,000. Institutional investors and hedge funds own 95.17% of the company’s stock.

Avanos Medical Price Performance

Shares of NYSE:AVNS traded down $0.28 during trading on Friday, reaching $19.14. The stock had a trading volume of 13,335 shares, compared to its average volume of 250,435. Avanos Medical, Inc. has a 52 week low of $17.24 and a 52 week high of $26.56. The business’s 50-day moving average price is $19.64 and its 200 day moving average price is $19.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.47 and a current ratio of 2.28.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The firm had revenue of $166.10 million during the quarter, compared to the consensus estimate of $162.90 million. Avanos Medical had a negative net margin of 9.15% and a positive return on equity of 4.10%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. On average, equities analysts anticipate that Avanos Medical, Inc. will post 1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AVNS shares. JMP Securities reaffirmed a “market perform” rating on shares of Avanos Medical in a research note on Tuesday, May 7th. StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th.

About Avanos Medical

Avanos Medical, Inc, a medical technology company, offers 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.