AVANOS MEDICAL, INC. $AVNS Shares Acquired by Tributary Capital Management LLC

Key Points

• Tributary Capital Management LLC increased its stake in AVANOS MEDICAL, owning approximately 1.75% of the company after acquiring an additional 73,518 shares during the second quarter.
• AVANOS MEDICAL's stock was trading at $11.79, with a recent market capitalization of $547.20 million, showing a yearly low of $9.30 and a high of $22.86.
• The company reported earnings of $0.17 per share for the last quarter, missing analysts' estimates, while also setting guidance for FY 2025 at 0.750-0.950 EPS.

Tributary Capital Management LLC boosted its stake in AVANOS MEDICAL, INC. (NYSE:AVNS - Free Report) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 810,720 shares of the company's stock after buying an additional 73,518 shares during the quarter. Tributary Capital Management LLC owned approximately 1.75% of AVANOS MEDICAL worth $9,923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVNS. Armistice Capital LLC purchased a new position in AVANOS MEDICAL in the 1st quarter valued at about $28,660,000. T. Rowe Price Investment Management Inc. lifted its stake in AVANOS MEDICAL by 24.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,757,576 shares of the company's stock valued at $53,847,000 after buying an additional 746,264 shares in the last quarter. Clark Estates Inc. NY purchased a new position in AVANOS MEDICAL in the 1st quarter valued at about $7,077,000. Millennium Management LLC lifted its stake in AVANOS MEDICAL by 508.3% in the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company's stock valued at $7,849,000 after buying an additional 457,703 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in AVANOS MEDICAL in the 1st quarter valued at about $6,056,000. 95.17% of the stock is owned by hedge funds and other institutional investors.

AVANOS MEDICAL Stock Up 1.8%

Shares of NYSE AVNS opened at $11.79 on Thursday. The company has a 50 day simple moving average of $11.72 and a 200-day simple moving average of $12.01. The company has a market capitalization of $547.20 million, a P/E ratio of -1.17 and a beta of 1.15. 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, INC. has a 1 year low of $9.30 and a 1 year high of $22.86.

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 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 quarter in the prior year, the business earned $0.34 EPS. AVANOS MEDICAL has set its FY 2025 guidance at 0.750-0.950 EPS. On average, equities research analysts predict that AVANOS MEDICAL, INC. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVNS. Weiss Ratings reissued a "sell (d-)" rating on shares of AVANOS MEDICAL in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of AVANOS MEDICAL from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised shares of AVANOS MEDICAL to a "hold" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

Insider Buying and Selling at AVANOS MEDICAL

In related news, Director Gary Blackford acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $10.99 per share, with a total value of $439,600.00. Following the transaction, the director owned 40,000 shares of the company's stock, valued at approximately $439,600. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 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.

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