Armistice Capital LLC Purchases Shares of 2,000,000 Avanos Medical, Inc. $AVNS

Key Points

• Armistice Capital LLC has acquired 2,000,000 shares of Avanos Medical, Inc. ($AVNS), valued at approximately $28.66 million, giving it a 4.32% ownership stake in the company.
• Avanos Medical reported a quarterly earnings per share (EPS) of $0.17, missing the estimated EPS of $0.18, while achieving $175 million in revenue, surpassing analyst expectations.
• Recent analyst ratings for Avanos Medical have varied, with Wall Street Zen downgrading the stock from a "strong-buy" to a "buy," while the consensus rating remains a "hold."

Armistice Capital LLC bought a new stake in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,000,000 shares of the company's stock, valued at approximately $28,660,000. Armistice Capital LLC owned 4.32% of Avanos Medical at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mariner LLC raised its position in shares of Avanos Medical by 18.0% in the fourth quarter. Mariner LLC now owns 10,655 shares of the company's stock worth $170,000 after buying an additional 1,625 shares in the last quarter. First Trust Advisors LP purchased a new position in Avanos Medical during the fourth quarter worth about $1,234,000. Tower Research Capital LLC TRC grew its position in Avanos Medical by 493.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company's stock worth $129,000 after buying an additional 6,714 shares in the last quarter. Aquatic Capital Management LLC grew its position in Avanos Medical by 86.6% during the fourth quarter. Aquatic Capital Management LLC now owns 21,274 shares of the company's stock worth $339,000 after buying an additional 9,874 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in Avanos Medical during the fourth quarter worth about $519,000. Institutional investors own 95.17% of the company's stock.

Avanos Medical Price Performance

NYSE:AVNS traded up $0.32 during midday trading on Thursday, hitting $12.67. The company had a trading volume of 649,919 shares, compared to its average volume of 541,008. Avanos Medical, Inc. has a 52-week low of $9.30 and a 52-week high of $25.36. The stock's fifty day moving average price is $11.61 and its 200-day moving average price is $12.76. The company has a market capitalization of $587.66 million, a PE ratio of -1.26 and a beta of 1.12. The company has a quick ratio of 1.58, a current ratio of 2.64 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $165.50 million. During the same quarter last year, the firm posted $0.34 earnings per share. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. As a group, research analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current year.

Insider Transactions at Avanos Medical

In other Avanos Medical news, Director Gary Blackford purchased 40,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $10.99 per share, for a total transaction of $439,600.00. Following the completion of the transaction, the director directly owned 40,000 shares in the company, valued at approximately $439,600. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AVNS has been the subject of several recent analyst reports. Wall Street Zen cut Avanos Medical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Zacks Research upgraded Avanos Medical to a "hold" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

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.