Groupe la Francaise Purchases New Shares in Avanos Medical, Inc. $AVNS

Key Points

• Groupe la Française acquired 269,014 shares of Avanos Medical in the second quarter, valued at approximately $6.7 million and representing about 0.57% of the company.
• Several other institutional investors also initiated or increased positions, and institutional investors and hedge funds collectively own 95.17% of Avanos Medical.
• Analyst sentiment remains cautious: Avanos has an average “Reduce” rating, with one analyst rating it “Hold” and another rating it “Sell.” Shares recently traded near $24.99, close to their 52-week high of $25.49.

Groupe la Francaise purchased a new position in Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 269,014 shares of the company's stock, valued at approximately $6,693,000. Groupe la Francaise owned approximately 0.57% of Avanos Medical as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Avanos Medical in the second quarter valued at about $1,424,000. FNY Investment Advisers LLC acquired a new position in shares of Avanos Medical during the 2nd quarter worth about $2,575,000. Samson Rock Capital LLP acquired a new position in shares of Avanos Medical during the 2nd quarter worth about $14,928,000. Punch & Associates Investment Management Inc. lifted its stake in Avanos Medical by 61.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 437,085 shares of the company's stock valued at $6,124,000 after buying an additional 167,085 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in Avanos Medical in the 2nd quarter worth about $1,244,000. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVNS. Zacks Research raised Avanos Medical from a "strong sell" rating to a "hold" rating in a report on Friday, June 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Avanos Medical in a research report on Monday, July 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Avanos Medical presently has an average rating of "Reduce".

Avanos Medical Price Performance

Shares of AVNS opened at $24.99 on Tuesday. Avanos Medical, Inc. has a 52-week low of $9.30 and a 52-week high of $25.49. The company has a market capitalization of $1.17 billion, a PE ratio of -15.52 and a beta of 1.57. The stock has a fifty day simple moving average of $24.97 and a two-hundred day simple moving average of $21.88. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11.

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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