Harvest Management LLC Makes New Investment in Avanos Medical, Inc. $AVNS

Key Points

• Harvest Management LLC acquired 47,600 Avanos Medical shares in the second quarter, worth approximately $1.18 million and representing 0.10% of the company.
• Institutional ownership remains high at 95.17%, with several other funds increasing stakes or establishing new positions in Avanos Medical.
• Avanos 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, for a consensus “Reduce” rating.

Harvest Management LLC bought a new position in Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 47,600 shares of the company's stock, valued at approximately $1,184,000. Avanos Medical comprises about 0.5% of Harvest Management LLC's portfolio, making the stock its 24th largest position. Harvest Management LLC owned 0.10% of Avanos Medical as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Avanos Medical by 132.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company's stock valued at $28,000 after purchasing an additional 1,423 shares during the last quarter. Russell Investments Group Ltd. raised its position in Avanos Medical by 969.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company's stock worth $31,000 after purchasing an additional 2,307 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Avanos Medical during the 2nd quarter worth $48,000. Wexford Capital LP acquired a new position in Avanos Medical during the 3rd quarter worth $70,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in Avanos Medical during the 2nd quarter worth $75,000. 95.17% of the stock is owned by institutional investors.

Avanos Medical Price Performance

Avanos Medical stock opened at $24.99 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.17 billion, a P/E ratio of -15.52 and a beta of 1.57. The business has a 50-day moving average of $24.96 and a 200-day moving average of $21.40. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $25.49.

Wall Street Analyst Weigh In

AVNS has been the subject of several research reports. Zacks Research raised Avanos Medical from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Avanos Medical in a research note on Monday, July 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

About Avanos Medical

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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