Avanos Medical (NYSE:AVNS) Hits New 12-Month Low - Here's What Happened

Key Points

• Avanos Medical's stock reached a new 52-week low, trading as low as $11.15, reflecting a 4.4% decline from its previous close of $11.67.
• In the latest quarterly report, the company reported earnings of $0.26 per share, surpassing expectations and showing a slight revenue increase of 0.8% from the prior year.
• Institutional investors hold 95.17% of Avanos Medical's stock, with various firms significantly increasing their stakes during the fourth quarter.

Avanos Medical, Inc. (NYSE:AVNS - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.15 and last traded at $11.20, with a volume of 52397 shares trading hands. The stock had previously closed at $11.67.

Avanos Medical Stock Performance

The firm has a market cap of $522.60 million, a price-to-earnings ratio of -1.35 and a beta of 1.12. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $12.11 and a 200-day moving average price of $13.56.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.07. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $161.75 million. Avanos Medical had a positive return on equity of 6.26% and a negative net margin of 55.80%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank grew its holdings in Avanos Medical by 3.4% during the fourth quarter. Comerica Bank now owns 22,903 shares of the company's stock worth $365,000 after acquiring an additional 755 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Avanos Medical by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,834 shares of the company's stock worth $411,000 after acquiring an additional 901 shares during the period. US Bancorp DE grew its holdings in Avanos Medical by 7.7% during the first quarter. US Bancorp DE now owns 15,184 shares of the company's stock worth $218,000 after acquiring an additional 1,091 shares during the period. EP Wealth Advisors LLC grew its holdings in Avanos Medical by 14.6% during the fourth quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock worth $161,000 after acquiring an additional 1,289 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its holdings in Avanos Medical by 3.5% during the first quarter. Azzad Asset Management Inc. ADV now owns 41,039 shares of the company's stock worth $588,000 after acquiring an additional 1,404 shares during the period. Institutional investors and hedge funds own 95.17% of the company's stock.

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.