Legal & General Group Plc Invests $2.63 Million in Avanos Medical, Inc. $AVNS

Key Points

• Legal & General Group Plc acquired 105,756 Avanos Medical shares worth approximately $2.63 million in the second quarter, representing about 0.23% of the company.
• Institutional investors own approximately 95.17% of Avanos Medical, with BlackRock and Northwestern Mutual among the largest recent holders.
• AVNS shares opened at $24.99, near their 12-month high of $25.49, but analyst sentiment remains cautious: the stock has an average rating of “Reduce”, including one Hold and one Sell rating.

Legal & General Group Plc acquired a new position in Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 105,756 shares of the company's stock, valued at approximately $2,631,000. Legal & General Group Plc owned approximately 0.23% of Avanos Medical at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Avanos Medical by 1,596,514.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company's stock valued at $167,287,000 after purchasing an additional 14,895,480 shares during the period. BlackRock Inc. bought a new position in Avanos Medical in the 2nd quarter worth approximately $185,824,000. Armistice Capital LLC grew its holdings in Avanos Medical by 28.0% during the 4th quarter. Armistice Capital LLC now owns 3,200,000 shares of the company's stock valued at $35,936,000 after buying an additional 700,000 shares in the last quarter. State Street Corp grew its holdings in Avanos Medical by 2.8% during the 4th quarter. State Street Corp now owns 1,954,785 shares of the company's stock valued at $21,952,000 after buying an additional 53,523 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Avanos Medical by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,084,504 shares of the company's stock valued at $12,180,000 after buying an additional 16,980 shares during the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Stock Performance

Shares of AVNS opened at $24.99 on Friday. The stock's fifty day simple moving average is $24.97 and its 200 day simple moving average is $21.76. The firm has a market capitalization of $1.17 billion, a P/E ratio of -15.52 and a beta of 1.57. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11. Avanos Medical, Inc. has a twelve month low of $9.30 and a twelve month high of $25.49.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVNS. Weiss Ratings reissued a "sell (d-)" rating on shares of Avanos Medical in a research note on Monday, July 20th. Zacks Research raised Avanos Medical from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.