Clark Estates Inc. NY Invests $7.08 Million 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 stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 493,880 shares of the company's stock, valued at approximately $7,077,000. Avanos Medical accounts for 1.5% of Clark Estates Inc. NY's investment portfolio, making the stock its 14th largest position. Clark Estates Inc. NY owned 1.07% of Avanos Medical as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Avanos Medical during the 4th quarter worth $64,000. State of Wyoming increased its stake in Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company's stock worth $82,000 after buying an additional 2,923 shares during the period. Tower Research Capital LLC TRC increased its stake in Avanos Medical by 493.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company's stock worth $129,000 after buying an additional 6,714 shares during the period. Heritage Family Offices LLP purchased a new stake in Avanos Medical during the 1st quarter worth $146,000. Finally, EP Wealth Advisors LLC increased its stake in Avanos Medical by 14.6% during the 4th quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock worth $161,000 after buying an additional 1,289 shares during the period. Hedge funds and other institutional investors own 95.17% of the company's stock.

Avanos Medical Stock Down 1.6%

Avanos Medical stock traded down $0.18 during midday trading on Friday, hitting $11.00. 670,789 shares of the stock were exchanged, compared to its average volume of 434,917. Avanos Medical, Inc. has a 1 year low of $10.86 and a 1 year high of $25.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.57 and a quick ratio of 1.56. The firm has a market cap of $508.41 million, a P/E ratio of -1.31 and a beta of 1.12. The company has a 50 day moving average price of $12.11 and a two-hundred day moving average price of $13.58.

Avanos Medical (NYSE:AVNS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.07. The company had revenue of $167.50 million for 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 firm's quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. On average, sell-side analysts predict that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

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.