Clark Estates Inc. NY Makes New Investment in AVANOS MEDICAL, INC. (NYSE:AVNS)

Key Points

• Clark Estates Inc. NY has acquired a new position in Avanos Medical, Inc. by purchasing 493,880 shares, valued at approximately $7.08 million, making it the 14th largest holding in their investment portfolio.
• During the latest earnings release, Avanos Medical reported $0.26 earnings per share, surpassing the consensus estimate of $0.19, alongside a revenue of $167.5 million for the quarter.
• The company's stock has shown significant institutional support, with approximately 95.17% of shares owned by hedge funds and other institutional investors.

Clark Estates Inc. NY acquired a new position in shares of AVANOS MEDICAL, INC. (NYSE:AVNS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 493,880 shares of the company's stock, valued at approximately $7,077,000. AVANOS MEDICAL comprises approximately 1.5% of Clark Estates Inc. NY's investment portfolio, making the stock its 14th biggest position. Clark Estates Inc. NY owned 1.07% of AVANOS MEDICAL at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. acquired a new position in AVANOS MEDICAL in the 1st quarter valued at about $6,056,000. Diamond Hill Capital Management Inc. acquired a new position in AVANOS MEDICAL in the 1st quarter valued at about $2,800,000. Y Intercept Hong Kong Ltd acquired a new position in AVANOS MEDICAL in the 1st quarter valued at about $368,000. Easterly Investment Partners LLC purchased a new position in shares of AVANOS MEDICAL in the 1st quarter valued at about $986,000. Finally, Rice Hall James & Associates LLC boosted its stake in shares of AVANOS MEDICAL by 106.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 128,059 shares of the company's stock valued at $1,835,000 after buying an additional 65,930 shares during the period. 95.17% of the stock is owned by institutional investors and hedge funds.

AVANOS MEDICAL Stock Down 1.6%

Shares of AVNS traded down $0.18 during midday trading on Friday, hitting $11.00. The company had a trading volume of 670,789 shares, compared to its average volume of 434,917. The company's 50-day simple moving average is $12.11 and its 200-day simple moving average is $13.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.56 and a current ratio of 2.57. The firm has a market capitalization of $508.41 million, a P/E ratio of -1.31 and a beta of 1.12. AVANOS MEDICAL, INC. has a 1 year low of $10.86 and a 1 year high of $25.36.

AVANOS MEDICAL (NYSE:AVNS - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $167.50 million during the quarter, compared to analysts' expectations of $161.75 million. AVANOS MEDICAL had a positive return on equity of 6.26% and a negative net margin of 55.80%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. As a group, sell-side analysts expect that AVANOS MEDICAL, INC. will post 1.32 EPS for the current year.

AVANOS MEDICAL Company 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.