Avanos Medical, Inc. (NYSE:AVNS) Shares Acquired by Pitcairn Co.

Pitcairn Co. increased its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 11.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 15,940 shares of the company’s stock after purchasing an additional 1,606 shares during the period. Pitcairn Co.’s holdings in Avanos Medical were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVNS. SG Americas Securities LLC boosted its holdings in Avanos Medical by 6.7% in the 4th quarter. SG Americas Securities LLC now owns 28,060 shares of the company’s stock valued at $629,000 after purchasing an additional 1,754 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Avanos Medical in the 4th quarter valued at approximately $439,000. Louisiana State Employees Retirement System purchased a new stake in shares of Avanos Medical in the fourth quarter valued at approximately $525,000. Federated Hermes Inc. grew its holdings in Avanos Medical by 15.3% during the fourth quarter. Federated Hermes Inc. now owns 91,764 shares of the company’s stock worth $2,058,000 after acquiring an additional 12,170 shares during the period. Finally, Kestrel Investment Management Corp purchased a new position in Avanos Medical in the fourth quarter worth $3,265,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Price Performance

NYSE AVNS traded up $0.32 during mid-day trading on Thursday, hitting $22.92. The stock had a trading volume of 165,446 shares, compared to its average volume of 247,883. The company has a 50 day simple moving average of $20.18 and a 200 day simple moving average of $19.57. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -16.99 and a beta of 0.94. Avanos Medical, Inc. has a 52-week low of $17.24 and a 52-week high of $25.04. The company has a quick ratio of 1.47, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Avanos Medical from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. JMP Securities reissued a “market perform” rating on shares of Avanos Medical in a report on Tuesday, May 7th.

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.