Deutsche Bank AG Purchases Shares of 48,369 Avanos Medical, Inc. $AVNS

Key Points

• Deutsche Bank acquired 48,369 Avanos Medical shares during the second quarter, valued at approximately $1.2 million, giving it a 0.10% stake.
• Institutional investors own 95.17% of Avanos Medical, with notable increases from Northwestern Mutual, Armistice Capital, Millennium Management and Ameriprise Financial.
• Analyst sentiment remains cautious: Avanos has a consensus “Reduce” rating, while its shares opened at $24.99, near the company’s 12-month high of $25.49.

Deutsche Bank AG acquired a new stake in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 48,369 shares of the company's stock, valued at approximately $1,203,000. Deutsche Bank AG owned about 0.10% of Avanos Medical at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AVNS. Northwestern Mutual Wealth Management Co. grew its holdings in Avanos Medical by 1,596,514.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company's stock worth $167,287,000 after acquiring an additional 14,895,480 shares during the last quarter. Armistice Capital LLC increased its holdings in Avanos Medical by 28.0% during the 4th quarter. Armistice Capital LLC now owns 3,200,000 shares of the company's stock valued at $35,936,000 after purchasing an additional 700,000 shares during the period. Millennium Management LLC raised its position in Avanos Medical by 312.4% during the 3rd quarter. Millennium Management LLC now owns 896,242 shares of the company's stock valued at $10,361,000 after purchasing an additional 678,898 shares during the last quarter. Samson Rock Capital LLP bought a new position in Avanos Medical during the 2nd quarter valued at approximately $14,928,000. Finally, Ameriprise Financial Inc. grew its position in shares of Avanos Medical by 356.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 591,181 shares of the company's stock worth $6,834,000 after buying an additional 461,706 shares during the last quarter. 95.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Avanos Medical in a report on Monday, July 20th. Zacks Research raised shares of Avanos Medical from a "strong sell" rating to a "hold" rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce".

Avanos Medical Stock Performance

Shares of Avanos Medical stock opened at $24.99 on Monday. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.17 billion, a P/E ratio of -15.52 and a beta of 1.57. The business has a fifty day simple moving average of $24.96 and a two-hundred day simple moving average of $21.45. Avanos Medical, Inc. has a 12 month low of $9.30 and a 12 month high of $25.49.

About Avanos Medical

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company's products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.

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