Charles Schwab Investment Management Inc. Grows Holdings in AVANOS MEDICAL, INC. $AVNS

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in AVANOS MEDICAL by 32.3%, acquiring an additional 148,619 shares to hold 608,635 shares in total, valued at approximately $8.72 million.
• AVANOS MEDICAL reported a quarterly earnings miss, posting $0.17 earnings per share (EPS), below the expected $0.18 EPS, while revenues exceeded estimates at $175 million.
• Institutional investors own a significant portion, representing 95.17% of the company's stock, indicating strong investor interest in AVANOS MEDICAL.

Charles Schwab Investment Management Inc. grew its position in AVANOS MEDICAL, INC. (NYSE:AVNS - Free Report) by 32.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 608,635 shares of the company's stock after purchasing an additional 148,619 shares during the period. Charles Schwab Investment Management Inc. owned about 1.32% of AVANOS MEDICAL worth $8,722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AVNS. LPL Financial LLC raised its holdings in shares of AVANOS MEDICAL by 25.5% in the fourth quarter. LPL Financial LLC now owns 20,552 shares of the company's stock valued at $327,000 after purchasing an additional 4,176 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of AVANOS MEDICAL by 15.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 128,567 shares of the company's stock valued at $2,047,000 after purchasing an additional 17,504 shares during the last quarter. Mariner LLC raised its holdings in shares of AVANOS MEDICAL by 18.0% in the fourth quarter. Mariner LLC now owns 10,655 shares of the company's stock valued at $170,000 after purchasing an additional 1,625 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of AVANOS MEDICAL in the fourth quarter valued at about $1,031,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of AVANOS MEDICAL by 22.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 75,341 shares of the company's stock valued at $1,198,000 after purchasing an additional 13,634 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company's stock.

AVANOS MEDICAL Stock Performance

NYSE:AVNS traded up $0.06 on Friday, reaching $11.93. 647,282 shares of the company's stock were exchanged, compared to its average volume of 820,234. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.58. 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 52 week low of $9.30 and a 52 week high of $25.36. The stock has a fifty day simple moving average of $11.62 and a 200-day simple moving average of $12.80.

AVANOS MEDICAL (NYSE:AVNS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The business had revenue of $175.00 million for the quarter, compared to the consensus estimate 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. As a group, sell-side analysts predict that AVANOS MEDICAL, INC. will post 1.32 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gary Blackford bought 40,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $10.99 per share, for a total transaction of $439,600.00. Following the purchase, the director directly owned 40,000 shares in the company, valued at $439,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AVNS has been the subject of several research reports. Zacks Research upgraded shares of AVANOS MEDICAL to a "hold" rating in a research report on Tuesday, August 12th. 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. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, AVANOS MEDICAL currently has an average rating of "Hold".

AVANOS MEDICAL Profile

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.