Avanos Medical, Inc. $AVNS Stock Holdings Increased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management increased its Avanos Medical position by 40.6% in the second quarter, adding 107,825 shares to own 373,397 shares worth approximately $9.29 million. Institutional investors collectively hold 95.17% of the company.
• Analyst sentiment remains cautious: Zacks Research upgraded the stock to “hold,” while Weiss Ratings maintained a “sell” rating. MarketBeat reports a consensus rating of “Reduce.”
• AVNS opened at $24.99, near its 12-month high of $25.49, with a market capitalization of about $1.17 billion. Avanos develops medical devices focused on pain management, enteral feeding and respiratory care.

Allianz Asset Management GmbH raised its position in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 40.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,397 shares of the company's stock after buying an additional 107,825 shares during the quarter. Allianz Asset Management GmbH owned about 0.80% of Avanos Medical worth $9,290,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Groupe la Francaise acquired a new stake in shares of Avanos Medical during the 2nd quarter valued at approximately $6,693,000. Two Sigma Securities LLC bought a new stake in shares of Avanos Medical during the 2nd quarter valued at about $274,000. Harvest Management LLC bought a new stake in shares of Avanos Medical during the 2nd quarter valued at about $1,184,000. Mint Tower Capital Management B.V. acquired a new stake in Avanos Medical during the second quarter worth about $1,320,000. Finally, North Star Asset Management Inc. bought a new position in Avanos Medical in the second quarter worth about $396,000. Institutional investors own 95.17% of the company's stock.

Analysts Set New Price Targets

AVNS has been the subject of a number of research reports. Zacks Research upgraded Avanos Medical from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Avanos Medical in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce".

Avanos Medical Stock Performance

Shares of NYSE AVNS opened at $24.99 on Wednesday. Avanos Medical, Inc. has a 12-month low of $9.30 and a 12-month high of $25.49. The company has a market cap of $1.17 billion, a PE ratio of -15.52 and a beta of 1.57. The stock has a 50 day simple moving average of $24.97 and a 200-day simple moving average of $21.94. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11.

Avanos Medical Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company's products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.

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