AVANOS MEDICAL (NYSE:AVNS) Director Gary Blackford Acquires 40,000 Shares

Key Points

• Gary Blackford, a director at Avanos Medical, purchased 40,000 shares of the company's stock for approximately $439,600 on August 13, indicating a significant investment in the firm's future.
• The company's stock recently traded at $11.17, with a market capitalization of $518.29 million, and reported a negative net margin of 66.89% in its latest earnings release.
• Institutional investors now hold 95.17% of Avanos Medical's stock, reflecting increased interest and confidence in the company's performance amidst recent trading activity.

AVANOS MEDICAL, INC. (NYSE:AVNS - Get Free Report) Director Gary Blackford bought 40,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of $10.99 per share, with a total value of $439,600.00. Following the completion of the purchase, the director directly owned 40,000 shares in the company, valued at $439,600. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Gary Blackford also recently made the following trade(s):

• On Wednesday, August 13th, Gary Blackford bought 20,000 shares of AVANOS MEDICAL stock. The shares were purchased at an average price of $10.97 per share, for a total transaction of $219,400.00.

AVANOS MEDICAL Stock Down 0.5%

NYSE:AVNS traded down $0.0590 during mid-day trading on Wednesday, hitting $11.3710. The stock had a trading volume of 437,945 shares, compared to its average volume of 799,016. The stock has a 50-day simple moving average of $11.69 and a two-hundred day simple moving average of $13.10. The company has a market capitalization of $527.61 million, a PE ratio of -1.13 and a beta of 1.12. AVANOS MEDICAL, INC. has a twelve month low of $9.30 and a twelve month high of $25.36. The company has a current ratio of 2.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

AVANOS MEDICAL (NYSE:AVNS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). AVANOS MEDICAL had a positive return on equity of 6.16% and a negative net margin of 66.89%.The firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $165.50 million. During the same quarter last year, the firm earned $0.34 EPS. AVANOS MEDICAL has set its FY 2025 guidance at 0.750-0.950 EPS. On average, equities research analysts anticipate that AVANOS MEDICAL, INC. will post 1.32 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on AVNS shares. Wall Street Zen lowered AVANOS MEDICAL from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research raised AVANOS MEDICAL to a "hold" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Institutional Investors Weigh In On AVANOS MEDICAL

Institutional investors and hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new position in shares of AVANOS MEDICAL during the first quarter worth about $28,660,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of AVANOS MEDICAL by 24.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,757,576 shares of the company's stock valued at $53,847,000 after purchasing an additional 746,264 shares during the last quarter. Clark Estates Inc. NY acquired a new stake in shares of AVANOS MEDICAL in the 1st quarter valued at about $7,077,000. Millennium Management LLC grew its stake in AVANOS MEDICAL by 508.3% during the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company's stock worth $7,849,000 after buying an additional 457,703 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in AVANOS MEDICAL during the 1st quarter worth approximately $6,056,000. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.