AVANOS MEDICAL, INC. $AVNS Shares Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in AVANOS MEDICAL, acquiring 83,364 additional shares for a total of 134,461 shares, representing a 163.1% growth in their position.
• Several large institutional investors, including T. Rowe Price and Charles Schwab, have also significantly increased their holdings in AVANOS MEDICAL during the first quarter of 2023.
• AVANOS MEDICAL reported a quarterly earnings miss, with earnings per share of $0.17, below the consensus estimate of $0.18, while guiding for fiscal year 2025 EPS between 0.750-0.950.

Cubist Systematic Strategies LLC raised its holdings in shares of AVANOS MEDICAL, INC. (NYSE:AVNS - Free Report) by 163.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,461 shares of the company's stock after purchasing an additional 83,364 shares during the quarter. Cubist Systematic Strategies LLC owned 0.29% of AVANOS MEDICAL worth $1,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of AVANOS MEDICAL by 24.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,757,576 shares of the company's stock worth $53,847,000 after purchasing an additional 746,264 shares during the last quarter. Armistice Capital LLC bought a new stake in shares of AVANOS MEDICAL in the first quarter valued at about $28,660,000. Brown Advisory Inc. raised its holdings in shares of AVANOS MEDICAL by 1.4% in the first quarter. Brown Advisory Inc. now owns 1,931,163 shares of the company's stock valued at $27,674,000 after acquiring an additional 26,069 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AVANOS MEDICAL by 32.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 608,635 shares of the company's stock valued at $8,722,000 after acquiring an additional 148,619 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of AVANOS MEDICAL by 4.9% in the fourth 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. 95.17% of the stock is currently owned by institutional investors.

AVANOS MEDICAL Stock Down 1.3%

AVANOS MEDICAL stock traded down $0.17 during trading hours on Friday, reaching $12.25. The stock had a trading volume of 36,418 shares, compared to its average volume of 538,260. The company has a market cap of $568.17 million, a price-to-earnings ratio of -1.22 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 business's 50 day moving average price is $11.63 and its 200-day moving average price is $12.62. AVANOS MEDICAL, INC. has a 52 week low of $9.30 and a 52 week high of $25.36.

AVANOS MEDICAL (NYSE:AVNS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $175.00 million during 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 firm 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 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on AVNS. Zacks Research upgraded AVANOS MEDICAL to a "hold" rating in a report on Tuesday, August 12th. Wall Street Zen downgraded AVANOS MEDICAL from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Insider Activity

In related news, Director Gary Blackford acquired 40,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $10.99 per share, for a total transaction of $439,600.00. Following the completion of the acquisition, the director directly owned 40,000 shares in the company, valued at $439,600. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.64% of the stock is currently 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.