FNY Investment Advisers LLC Purchases New Stake in Avanos Medical, Inc. $AVNS

Key Points

• FNY Investment Advisers purchased 103,500 Avanos Medical shares worth approximately $2.6 million, representing about 0.22% of the company and 0.9% of FNY’s portfolio. Institutional investors collectively own 95.17% of AVNS.
• Avanos reported quarterly revenue of $182.2 million, up 8.8% year over year, and adjusted earnings of $0.22 per share, exceeding analyst expectations of $0.16. Analysts expect full-year EPS of $1.06.
• AVNS shares opened at $24.99, near their 52-week high of $25.49, but analyst sentiment remains cautious: coverage consists of one Hold and one Sell rating, producing a consensus rating of “Reduce.”

FNY Investment Advisers LLC purchased a new stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 103,500 shares of the company's stock, valued at approximately $2,575,000. Avanos Medical accounts for about 0.9% of FNY Investment Advisers LLC's holdings, making the stock its 17th largest holding. FNY Investment Advisers LLC owned approximately 0.22% of Avanos Medical at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Avanos Medical by 46.4% in the first quarter. AQR Capital Management LLC now owns 192,864 shares of the company's stock worth $2,700,000 after acquiring an additional 61,095 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Avanos Medical by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company's stock valued at $386,000 after acquiring an additional 1,121 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Avanos Medical by 508.3% during the 1st 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 in the last quarter. Empowered Funds LLC lifted its holdings in shares of Avanos Medical by 5.4% during the 1st quarter. Empowered Funds LLC now owns 162,182 shares of the company's stock valued at $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 boosted its position in Avanos Medical by 17.1% during the 1st 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 purchasing an additional 20,541 shares during the period. 95.17% of the stock is owned by institutional investors and hedge funds.

Avanos Medical Stock Performance

Shares of AVNS opened at $24.99 on Friday. The company has a market capitalization of $1.17 billion, a P/E ratio of -15.52 and a beta of 1.57. Avanos Medical, Inc. has a one year low of $9.30 and a one year high of $25.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.48. The stock has a 50-day moving average price of $24.96 and a 200 day moving average price of $20.13.

Avanos Medical (NYSE:AVNS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The firm had revenue of $182.20 million during the quarter, compared to analyst estimates of $170.00 million. During the same quarter last year, the firm earned $0.26 EPS. Avanos Medical's quarterly revenue was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Avanos Medical, Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AVNS shares. Zacks Research upgraded Avanos Medical from a "strong sell" rating to a "hold" rating in a report on Friday, June 5th. Wall Street Zen cut Avanos Medical from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Avanos Medical in a research report on Monday, July 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Avanos Medical presently has a consensus rating of "Reduce".

Avanos Medical 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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