Dimensional Fund Advisors LP Has $28.75 Million Stock Holdings in Avanos Medical, Inc. $AVNS

Key Points

• Dimensional Fund Advisors reduced its Avanos Medical stake by 4.9% in the first quarter, selling 105,175 shares. It still owned 2.05 million shares valued at approximately $28.75 million, or 4.41% of the company.
• Institutional investors and hedge funds own 95.17% of AVNS; Millennium Management increased its position by 508.3%, while AQR Capital Management raised its holdings by 46.4%.
• Avanos reported quarterly earnings of $0.22 per share, exceeding estimates of $0.16, while revenue rose 8.8% year over year to $182.2 million. However, analyst sentiment remains cautious, with a consensus rating of “Reduce.”

Dimensional Fund Advisors LP decreased its holdings in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,052,356 shares of the company's stock after selling 105,175 shares during the period. Dimensional Fund Advisors LP owned about 4.41% of Avanos Medical worth $28,753,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Avanos Medical by 46.4% in the 1st quarter. AQR Capital Management LLC now owns 192,864 shares of the company's stock worth $2,700,000 after buying an additional 61,095 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Avanos Medical by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company's stock valued at $386,000 after buying an additional 1,121 shares in the last quarter. Millennium Management LLC grew its position in Avanos Medical by 508.3% in the first quarter. Millennium Management LLC now owns 547,740 shares of the company's stock valued at $7,849,000 after acquiring an additional 457,703 shares during the period. Empowered Funds LLC raised its stake in Avanos Medical by 5.4% during the first quarter. Empowered Funds LLC now owns 162,182 shares of the company's stock worth $2,324,000 after acquiring an additional 8,348 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Avanos Medical by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,810 shares of the company's stock worth $2,018,000 after acquiring an additional 20,541 shares in the last quarter. 95.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVNS has been the topic of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Avanos Medical in a research note on Monday, July 20th. Wall Street Zen lowered shares of Avanos Medical from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Finally, Zacks Research raised shares of Avanos Medical from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Avanos Medical currently has a consensus rating of "Reduce".

Avanos Medical Price Performance

Shares of NYSE AVNS opened at $24.99 on Thursday. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -15.52 and a beta of 1.57. Avanos Medical, Inc. has a 12-month low of $9.30 and a 12-month high of $25.49. The firm's 50-day simple moving average is $24.95 and its 200 day simple moving average is $20.04.

Avanos Medical (NYSE:AVNS - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $182.20 million during the quarter, compared to the consensus estimate of $170.00 million. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The company's revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, research analysts expect that Avanos Medical, Inc. will post 1.06 earnings per share for the current fiscal year.

Avanos Medical Company Profile

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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