Cove Street Capital LLC Takes $318,000 Position in Avanos Medical, Inc. $AVNS

Key Points

• Cove Street Capital LLC has acquired a new position in Avanos Medical, Inc., purchasing 22,196 shares worth approximately $318,000 in the first quarter.
• Several hedge funds recently adjusted their stakes, with T. Rowe Price increasing its position by 24.8% to 3.76 million shares, now valued at around $53.8 million.
• Avanos Medical's stock was recently downgraded from a "strong-buy" to a "buy" by Wall Street Zen, while it received a "hold" rating from Zacks Research.

Cove Street Capital LLC purchased a new position in Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,196 shares of the company's stock, valued at approximately $318,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mariner LLC lifted its stake in Avanos Medical by 18.0% during the fourth quarter. Mariner LLC now owns 10,655 shares of the company's stock worth $170,000 after purchasing an additional 1,625 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Avanos Medical during the fourth quarter valued at about $1,234,000. Tower Research Capital LLC TRC grew its stake 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 last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Avanos Medical in the 4th quarter worth approximately $519,000. Finally, Northern Trust Corp increased its position in Avanos Medical by 4.9% during the 4th quarter. Northern Trust Corp now owns 526,763 shares of the company's stock valued at $8,386,000 after purchasing an additional 24,720 shares during the period. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gary Blackford acquired 40,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $10.99 per share, with a total value of $439,600.00. Following the purchase, the director directly owned 40,000 shares of the company's stock, valued at approximately $439,600. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.64% of the stock is owned by insiders.

Analyst Ratings Changes

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

Avanos Medical Price Performance

Shares of AVNS stock traded down $0.31 during trading hours on Monday, hitting $12.41. The stock had a trading volume of 520,442 shares, compared to its average volume of 541,524. The stock has a market capitalization of $575.64 million, a price-to-earnings ratio of -1.23 and a beta of 1.12. Avanos Medical, Inc. has a one year low of $9.30 and a one year high of $25.36. The stock's 50-day moving average price is $11.63 and its two-hundred day moving average price is $12.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.58.

Avanos Medical (NYSE:AVNS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Avanos Medical had a negative net margin of 66.89% and a positive return on equity of 6.16%. The business had revenue of $175.00 million during the quarter, compared to analysts' expectations of $165.50 million. During the same period last year, the business posted $0.34 earnings per share. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. Equities analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current year.

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.