Gary Blackford Acquires 40,000 Shares of Avanos Medical (NYSE:AVNS) Stock

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 firm's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $10.99 per share, with a total value of $439,600.00. Following the completion of the acquisition, the director directly owned 40,000 shares of the company's stock, valued at approximately $439,600. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, August 13th, Gary Blackford bought 20,000 shares of Avanos Medical stock. The stock was purchased at an average cost of $10.97 per share, with a total value of $219,400.00.

Avanos Medical Stock Up 1.1%

Avanos Medical stock traded up $0.13 during trading hours on Wednesday, hitting $11.56. The stock had a trading volume of 12,396 shares, compared to its average volume of 539,153. The company has a quick ratio of 1.58, a current ratio of 2.64 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $536.38 million, a P/E ratio of -1.14 and a beta of 1.12. Avanos Medical, Inc. has a 12-month low of $9.30 and a 12-month high of $25.36. The stock's 50-day moving average price is $11.71 and its 200-day moving average price is $13.11.

Avanos Medical (NYSE:AVNS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. Equities research analysts anticipate that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Avanos Medical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of Avanos Medical to a "hold" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

Hedge Funds Weigh In On Avanos Medical

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Avanos Medical by 969.3% in the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company's stock worth $31,000 after purchasing an additional 2,307 shares during the period. State of Wyoming boosted its position in shares of Avanos Medical by 132.0% in the fourth quarter. State of Wyoming now owns 5,137 shares of the company's stock worth $82,000 after purchasing an additional 2,923 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Avanos Medical by 433.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company's stock worth $77,000 after purchasing an additional 5,083 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Avanos Medical by 493.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company's stock worth $129,000 after purchasing an additional 6,714 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in shares of Avanos Medical by 14.6% in the fourth quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock worth $161,000 after purchasing an additional 1,289 shares during the period. 95.17% of the stock is currently owned by institutional investors.

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.