Goldman Sachs Group Inc. Has $4.22 Million Stock Holdings in Avanos Medical, Inc. $AVNS

Key Points

• Goldman Sachs Group Inc. reduced its stake in Avanos Medical by 8.0%, now owning about 294,153 shares valued at $4.2 million.
• Hedge funds and institutional investors hold a significant majority, owning 95.17% of the company's stock.
• Avanos Medical reported missed earnings expectations for the last quarter, posting $0.17 EPS against an estimate of $0.18, while its revenue of $175 million exceeded expectations.

Goldman Sachs Group Inc. lowered its holdings in Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 8.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 294,153 shares of the company's stock after selling 25,466 shares during the quarter. Goldman Sachs Group Inc. owned 0.64% of Avanos Medical worth $4,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming grew its holdings in shares of Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company's stock worth $82,000 after purchasing an additional 2,923 shares in the last quarter. Heritage Family Offices LLP bought a new position in shares of Avanos Medical during the 1st quarter worth approximately $146,000. EntryPoint Capital LLC bought a new position in shares of Avanos Medical during the 1st quarter worth approximately $181,000. ProShare Advisors LLC lifted its position in shares of Avanos Medical by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 13,693 shares of the company's stock worth $218,000 after buying an additional 4,210 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of Avanos Medical by 46.3% during the 1st quarter. EP Wealth Advisors LLC now owns 14,783 shares of the company's stock worth $212,000 after buying an additional 4,675 shares during the period. Institutional investors and hedge funds own 95.17% of the company's stock.

Insider Activity at Avanos Medical

In other news, Director Gary Blackford acquired 40,000 shares of Avanos Medical stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $10.99 per share, with a total value of $439,600.00. Following the completion of the transaction, the director directly owned 40,000 shares of the company's stock, valued at approximately $439,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal 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.

Avanos Medical Trading Down 2.9%

Shares of AVNS stock traded down $0.36 on Friday, reaching $11.92. 1,313,456 shares of the stock were exchanged, compared to its average volume of 565,946. The stock has a market cap of $553.11 million, a PE ratio of -1.18 and a beta of 1.12. Avanos Medical, Inc. has a one year low of $9.30 and a one year high of $25.36. 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 stock has a 50 day moving average price of $11.62 and a 200 day moving average price of $12.45.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $175.00 million for 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 previous year, the firm earned $0.34 EPS. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. Equities research analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AVNS has been the subject of several analyst reports. Wall Street Zen downgraded Avanos Medical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Zacks Research upgraded Avanos Medical to a "hold" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Avanos Medical Company 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.