Cubist Systematic Strategies LLC Makes New Investment in Avanos Medical, Inc. (NYSE:AVNS)

Cubist Systematic Strategies LLC acquired a new position in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 51,097 shares of the company's stock, valued at approximately $813,000. Cubist Systematic Strategies LLC owned approximately 0.11% of Avanos Medical at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC raised its stake in Avanos Medical by 87.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 273,251 shares of the company's stock valued at $4,350,000 after buying an additional 127,591 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Avanos Medical by 12.0% during the 4th quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company's stock valued at $30,329,000 after acquiring an additional 204,218 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Avanos Medical during the 4th quarter valued at approximately $233,000. Bank of America Corp DE lifted its stake in Avanos Medical by 2.5% during the fourth quarter. Bank of America Corp DE now owns 63,672 shares of the company's stock worth $1,014,000 after purchasing an additional 1,537 shares during the last quarter. Finally, AXA S.A. boosted its holdings in Avanos Medical by 28.1% in the fourth quarter. AXA S.A. now owns 68,000 shares of the company's stock worth $1,083,000 after purchasing an additional 14,906 shares during the period. 95.17% of the stock is owned by institutional investors and hedge funds.

Avanos Medical Stock Performance

AVNS stock traded up $0.37 during midday trading on Friday, reaching $13.12. The company had a trading volume of 582,928 shares, compared to its average volume of 356,101. The firm has a market capitalization of $606.54 million, a PE ratio of 38.58 and a beta of 1.13. The stock has a 50 day moving average price of $13.19 and a 200 day moving average price of $15.72. Avanos Medical, Inc. has a fifty-two week low of $11.84 and a fifty-two week high of $25.36. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its quarterly earnings data 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. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $161.75 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. Analysts anticipate that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Avanos Medical from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th.

Insider Activity

In other news, SVP Kerr Holbrook sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.25, for a total transaction of $106,750.00. Following the completion of the transaction, the senior vice president now directly owns 82,047 shares in the company, valued at approximately $1,251,216.75. The trade was a 7.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.64% 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.