Ameriprise Financial Inc. Trims Stake in Avanos Medical, Inc. (NYSE:AVNS)

Ameriprise Financial Inc. reduced its stake in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,333 shares of the company's stock after selling 34,075 shares during the quarter. Ameriprise Financial Inc. owned 0.54% of Avanos Medical worth $3,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVNS. AXA S.A. grew its stake in shares of Avanos Medical by 28.1% in the fourth quarter. AXA S.A. now owns 68,000 shares of the company's stock worth $1,083,000 after purchasing an additional 14,906 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Avanos Medical by 37.6% in the fourth quarter. Jane Street Group LLC now owns 90,334 shares of the company's stock worth $1,438,000 after purchasing an additional 24,684 shares during the last quarter. Comerica Bank boosted its position in Avanos Medical by 3.4% during the 4th quarter. Comerica Bank now owns 22,903 shares of the company's stock valued at $365,000 after acquiring an additional 755 shares in the last quarter. Northern Trust Corp boosted 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 acquiring an additional 24,720 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Avanos Medical during the 4th quarter valued at approximately $519,000. 95.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Avanos Medical from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th.

Avanos Medical Stock Down 0.5%

Shares of AVNS stock traded down $0.06 during trading hours on Friday, hitting $12.58. 415,935 shares of the company's stock traded hands, compared to its average volume of 365,271. The stock's fifty day simple moving average is $12.81 and its two-hundred day simple moving average is $15.22. Avanos Medical, Inc. has a 12-month low of $11.84 and a 12-month high of $25.36. The stock has a market cap of $581.75 million, a price-to-earnings ratio of 37.00 and a beta of 1.13. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.07. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. The firm had revenue of $167.50 million during the quarter, compared to analyst estimates of $161.75 million. During the same period last year, the business earned $0.22 earnings per share. The business's revenue was up .8% on a year-over-year basis. On average, analysts expect that Avanos Medical, Inc. will post 1.32 EPS for the current year.

Insider Buying and Selling

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.25, for a total transaction of $106,750.00. Following the completion of the sale, the senior vice president now directly owns 82,047 shares in the company, valued at approximately $1,251,216.75. The trade was a 7.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.64% of the stock is owned by company insiders.

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.