Federated Hermes Inc. Sells 60,402 Shares of AVANOS MEDICAL, INC. (NYSE:AVNS)

Key Points

• Federated Hermes Inc. reduced its holdings in Avanos Medical by 72.1% in Q1, resulting in ownership of 23,364 shares valued at $335,000 at the end of the quarter.
• Avanos Medical reported $0.17 earnings per share (EPS), missing the consensus estimate of $0.18, while revenues exceeded expectations at $175 million.
• Wall Street analysts have downgraded Avanos Medical's rating from "strong-buy" to "buy", reflecting changing sentiments among investors.

Federated Hermes Inc. lowered its position in AVANOS MEDICAL, INC. (NYSE:AVNS - Free Report) by 72.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,364 shares of the company's stock after selling 60,402 shares during the quarter. Federated Hermes Inc. owned 0.05% of AVANOS MEDICAL worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in AVANOS MEDICAL by 27.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company's stock valued at $47,941,000 after purchasing an additional 644,267 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of AVANOS MEDICAL during the 1st quarter worth approximately $6,056,000. Brown Advisory Inc. grew its position in shares of AVANOS MEDICAL by 12.0% during the 4th quarter. Brown Advisory Inc. now owns 1,905,094 shares of the company's stock worth $30,329,000 after buying an additional 204,218 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of AVANOS MEDICAL during the 1st quarter worth approximately $2,800,000. Finally, D. E. Shaw & Co. Inc. grew its position in shares of AVANOS MEDICAL by 43.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 494,627 shares of the company's stock worth $7,874,000 after buying an additional 148,902 shares during the period. Institutional investors and hedge funds own 95.17% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut AVANOS MEDICAL from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th.

AVANOS MEDICAL Stock Performance

Shares of AVANOS MEDICAL stock traded up $0.19 during trading hours on Thursday, hitting $10.94. 495,729 shares of the company's stock traded hands, compared to its average volume of 535,523. AVANOS MEDICAL, INC. has a 12-month low of $9.30 and a 12-month high of $25.36. The stock has a market capitalization of $507.80 million, a price-to-earnings ratio of -1.09 and a beta of 1.12. The company has a fifty day simple moving average of $11.82 and a 200-day simple moving average of $13.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.58.

AVANOS MEDICAL (NYSE:AVNS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 earnings per share (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 negative net margin of 66.89% and a positive return on equity of 6.16%. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Equities research analysts anticipate that AVANOS MEDICAL, INC. will post 1.32 EPS 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.