Shares of Avanos Medical, Inc. (NYSE:AVNS - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 2,223,483 shares changed hands during mid-day trading, an increase of 318% from the previous session's volume of 531,352 shares.The stock last traded at $10.82 and had previously closed at $10.79.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered shares of Avanos Medical from a "strong-buy" rating to a "buy" rating in a research note on Saturday.
Get Our Latest Stock Report on AVNS
Avanos Medical Stock Performance
The company has a current ratio of 2.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The company's 50 day moving average is $11.85 and its 200-day moving average is $13.32. The company has a market capitalization of $498.36 million, a P/E ratio of -1.07 and a beta of 1.12.
Avanos Medical (NYSE:AVNS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The company had revenue of $175.00 million for the quarter, compared to analysts' expectations of $165.50 million. Avanos Medical had a negative net margin of 66.89% and a positive return on equity of 6.16%. During the same period in the previous year, the business earned $0.34 EPS. Equities analysts anticipate that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.
Hedge Funds Weigh In On Avanos Medical
Large investors have recently added to or reduced their stakes in the company. Armistice Capital LLC purchased a new position in shares of Avanos Medical in the first quarter worth $28,660,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Avanos Medical by 24.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,757,576 shares of the company's stock worth $53,847,000 after buying an additional 746,264 shares in the last quarter. Clark Estates Inc. NY purchased a new position in shares of Avanos Medical in the first quarter worth $7,077,000. Millennium Management LLC lifted its holdings in shares of Avanos Medical by 508.3% in the first 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 in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Avanos Medical in the first quarter worth $6,056,000. Hedge funds and other institutional investors own 95.17% of the company's stock.
About Avanos Medical
(
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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.
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