Avanos Medical, Inc. $AVNS Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Avanos Medical by 782.1%, owning 35,442 shares valued at about $508,000 following the purchase of 31,424 additional shares in Q1.
• Avanos Medical's stock was rated a "hold" by Zacks Research, with its average rating currently at "hold," following a downgrade from a "strong-buy" to a "buy" by Wall Street Zen.
• In a recent earnings report, Avanos Medical missed the consensus EPS estimate of $0.18, reporting $0.17, and set FY 2025 guidance at 0.750-0.950 EPS.

Quantbot Technologies LP lifted its stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 782.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,442 shares of the company's stock after purchasing an additional 31,424 shares during the quarter. Quantbot Technologies LP owned about 0.08% of Avanos Medical worth $508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. raised its position in shares of Avanos Medical by 17.0% in the 1st quarter. American Century Companies Inc. now owns 122,947 shares of the company's stock valued at $1,762,000 after purchasing an additional 17,835 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Avanos Medical by 26.7% in the 1st quarter. Public Sector Pension Investment Board now owns 145,704 shares of the company's stock valued at $2,088,000 after purchasing an additional 30,662 shares during the last quarter. Nuveen LLC purchased a new position in shares of Avanos Medical in the 1st quarter valued at approximately $1,839,000. Entropy Technologies LP purchased a new position in shares of Avanos Medical in the 1st quarter valued at approximately $254,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Avanos Medical by 32.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 608,635 shares of the company's stock valued at $8,722,000 after purchasing an additional 148,619 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Avanos Medical

In related news, Director Gary Blackford purchased 40,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $10.99 per share, with a total value of $439,600.00. Following the purchase, the director owned 40,000 shares of the company's stock, valued at $439,600. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVNS. Wall Street Zen lowered shares of Avanos Medical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Zacks Research raised shares of Avanos Medical to a "hold" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold".

Avanos Medical Stock Performance

Shares of NYSE AVNS traded up $0.06 during midday trading on Friday, reaching $11.93. 647,282 shares of the stock were exchanged, compared to its average volume of 541,221. The firm has a market cap of $553.74 million, a price-to-earnings ratio of -1.19 and a beta of 1.12. Avanos Medical, Inc. has a twelve month low of $9.30 and a twelve month high of $25.36. The firm has a 50-day simple moving average of $11.63 and a two-hundred day simple moving average of $12.88. 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 issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $165.50 million. Avanos Medical had a positive return on equity of 6.16% and a negative net margin of 66.89%.During the same period in the previous year, the business earned $0.34 EPS. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. As a group, analysts anticipate that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

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.