Charles Schwab Investment Management Inc. Acquires 148,619 Shares of 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. boosted its position in AVANOS MEDICAL, INC. (NYSE:AVNS - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 608,635 shares of the company's stock after acquiring an additional 148,619 shares during the period. Charles Schwab Investment Management Inc. owned 1.32% of AVANOS MEDICAL worth $8,722,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming boosted its holdings in AVANOS MEDICAL by 132.0% in the fourth quarter. State of Wyoming now owns 5,137 shares of the company's stock valued at $82,000 after acquiring an additional 2,923 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in AVANOS MEDICAL by 493.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company's stock valued at $129,000 after buying an additional 6,714 shares during the period. EP Wealth Advisors LLC lifted its stake in AVANOS MEDICAL by 14.6% in the fourth quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock valued at $161,000 after buying an additional 1,289 shares during the period. Heritage Family Offices LLP acquired a new position in AVANOS MEDICAL in the first quarter valued at about $146,000. Finally, Mariner LLC lifted its stake in 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 buying an additional 1,625 shares during the period. Institutional investors own 95.17% of the company's stock.

AVANOS MEDICAL Trading Down 1.2%

NYSE AVNS opened at $11.5750 on Tuesday. The firm has a market cap of $537.08 million, a P/E ratio of -1.15 and a beta of 1.12. 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 stock's 50-day moving average is $11.65 and its 200-day moving average is $12.93. AVANOS MEDICAL, INC. has a one year low of $9.30 and a one year high of $25.36.

AVANOS MEDICAL (NYSE:AVNS - Get Free Report) last posted its quarterly earnings data 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 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 previous year, the business posted $0.34 earnings per share. AVANOS MEDICAL has set its FY 2025 guidance at 0.750-0.950 EPS. Sell-side analysts anticipate that AVANOS MEDICAL, INC. will post 1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVNS. Wall Street Zen lowered AVANOS MEDICAL from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Zacks Research raised AVANOS MEDICAL to a "hold" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".

Insider Activity

In other news, Director Gary Blackford acquired 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $10.99 per share, for a total transaction of $439,600.00. Following the completion of the acquisition, the director owned 40,000 shares in the company, valued at $439,600. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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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