CAPROCK Group Inc. acquired a new position in shares of Avanos Medical Inc (NYSE:AVNS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,307 shares of the company’s stock, valued at approximately $227,000.
Several other hedge funds and other institutional investors have also bought and sold shares of AVNS. Malaga Cove Capital LLC bought a new stake in shares of Avanos Medical in the 3rd quarter valued at approximately $3,716,000. Legacy Private Trust Co. bought a new stake in Avanos Medical during the 3rd quarter worth approximately $1,838,000. State of New Jersey Common Pension Fund D bought a new stake in Avanos Medical during the 3rd quarter worth approximately $1,267,000. Oregon Public Employees Retirement Fund bought a new position in Avanos Medical in the 2nd quarter valued at $1,033,000. Finally, First Manhattan Co. bought a new position in Avanos Medical in the 3rd quarter valued at $1,040,000. 84.10% of the stock is owned by institutional investors and hedge funds.
AVNS has been the topic of a number of recent research reports. Zacks Investment Research upgraded Avanos Medical from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Thursday, August 9th. Morgan Stanley increased their price target on Avanos Medical from $58.00 to $60.00 and gave the company an “underweight” rating in a research note on Wednesday, August 8th. Raymond James raised Avanos Medical from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 21st. KeyCorp increased their price target on Avanos Medical from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 8th. Finally, Barclays assumed coverage on Avanos Medical in a research note on Monday, October 15th. They issued an “equal weight” rating and a $69.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $69.25.
Avanos Medical stock traded up $0.09 during mid-day trading on Friday, hitting $50.70. 357,529 shares of the company’s stock were exchanged, compared to its average volume of 376,287. The company has a market capitalization of $2.36 billion, a PE ratio of 21.57 and a beta of 1.86. Avanos Medical Inc has a fifty-two week low of $43.78 and a fifty-two week high of $72.96. The company has a current ratio of 2.78, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19.
Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. The business had revenue of $165.10 million for the quarter, compared to the consensus estimate of $166.57 million. Avanos Medical had a return on equity of 6.59% and a net margin of 14.26%. The company’s revenue was up 9.7% compared to the same quarter last year. Analysts predict that Avanos Medical Inc will post 1.83 EPS for the current fiscal year.
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Avanos Medical Company Profile
Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.
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