Avanos Medical (NYSE:AVNS) Sets New 52-Week Low – What’s Next?

Shares of Avanos Medical, Inc. (NYSE:AVNS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.51 and last traded at $15.65, with a volume of 460319 shares changing hands. The stock had previously closed at $15.55.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Avanos Medical from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd.

Avanos Medical Trading Up 0.5 %

The firm has a 50-day moving average price of $18.33 and a 200-day moving average price of $21.05. The stock has a market cap of $717.85 million, a PE ratio of 45.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22.

Institutional Investors Weigh In On Avanos Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC increased its holdings in shares of Avanos Medical by 19.5% in the 2nd quarter. Natixis Advisors LLC now owns 18,878 shares of the company’s stock worth $376,000 after purchasing an additional 3,077 shares in the last quarter. Quest Partners LLC bought a new stake in Avanos Medical in the 2nd quarter worth about $444,000. American Century Companies Inc. raised its position in Avanos Medical by 12.1% in the 2nd quarter. American Century Companies Inc. now owns 82,930 shares of the company’s stock worth $1,652,000 after buying an additional 8,929 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in Avanos Medical during the 2nd quarter valued at about $1,077,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Avanos Medical by 4.2% during the 2nd quarter. Federated Hermes Inc. now owns 97,097 shares of the company’s stock valued at $1,934,000 after acquiring an additional 3,938 shares during the last quarter. Institutional investors own 95.17% of the company’s stock.

Avanos Medical Company Profile

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.