Goldman Sachs Group Inc. Has $4.22 Million Stake 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. trimmed its stake 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 approximately 0.64% of Avanos Medical worth $4,215,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVNS. State of Wyoming grew its holdings in shares of Avanos Medical by 132.0% during the fourth quarter. State of Wyoming now owns 5,137 shares of the company's stock valued at $82,000 after buying an additional 2,923 shares in the last quarter. Heritage Family Offices LLP purchased a new position in shares of Avanos Medical during the first quarter valued at $146,000. EntryPoint Capital LLC purchased a new position in shares of Avanos Medical during the first quarter valued at $181,000. ProShare Advisors LLC grew its holdings in shares of Avanos Medical by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 13,693 shares of the company's stock valued at $218,000 after buying an additional 4,210 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of Avanos Medical by 46.3% during the first quarter. EP Wealth Advisors LLC now owns 14,783 shares of the company's stock valued at $212,000 after buying an additional 4,675 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Stock Down 2.9%

NYSE AVNS traded down $0.36 on Friday, reaching $11.92. The stock had a trading volume of 1,313,456 shares, compared to its average volume of 523,573. The business has a 50 day moving average price of $11.62 and a 200 day moving average price of $12.49. The company has a current ratio of 2.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $25.36. The company has a market capitalization of $553.09 million, a price-to-earnings ratio of -1.18 and a beta of 1.12.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company 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 last year, the company posted $0.34 EPS. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. On average, analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Insider Activity

In other Avanos Medical news, Director Gary Blackford bought 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $10.99 per share, for a total transaction of $439,600.00. Following the purchase, the director directly owned 40,000 shares in the company, valued at $439,600. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Avanos Medical from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research upgraded Avanos Medical to a "hold" rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Avanos Medical has an average rating of "Hold".

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.