Mint Tower Capital Management B.V. Acquires Shares of 53,052 Avanos Medical, Inc. $AVNS

Key Points

• Mint Tower Capital Management acquired 53,052 Avanos Medical shares worth approximately $1.32 million, representing about 0.11% of the company. Institutional investors collectively own 95.17% of AVNS.
• Analyst sentiment remains cautious: Zacks Research upgraded the stock to “hold,” while Weiss Ratings maintained a “sell” rating. The overall consensus rating is “Reduce.”
• AVNS was trading near its 52-week high at $24.99, with a market capitalization of approximately $1.17 billion and shares above both its 50-day and 200-day moving averages.

Mint Tower Capital Management B.V. bought a new stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 53,052 shares of the company's stock, valued at approximately $1,320,000. Mint Tower Capital Management B.V. owned about 0.11% of Avanos Medical as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AVNS. Federated Hermes Inc. increased its position in Avanos Medical by 2.8% in the 4th quarter. Federated Hermes Inc. now owns 25,774 shares of the company's stock valued at $289,000 after acquiring an additional 691 shares during the period. PNC Financial Services Group Inc. lifted its position in Avanos Medical by 15.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company's stock worth $89,000 after acquiring an additional 846 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Avanos Medical by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company's stock worth $386,000 after acquiring an additional 1,121 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Avanos Medical by 132.6% in the 4th 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. Finally, Swiss National Bank grew its stake in shares of Avanos Medical by 2.1% in the 4th quarter. Swiss National Bank now owns 91,500 shares of the company's stock valued at $1,028,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 95.17% of the company's stock.

Wall Street Analysts Forecast Growth

AVNS has been the subject of several analyst reports. Zacks Research upgraded Avanos Medical from a "strong sell" rating to a "hold" rating in a research note 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

Avanos Medical Stock Performance

NYSE AVNS opened at $24.99 on Friday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -15.52 and a beta of 1.57. Avanos Medical, Inc. has a 52-week low of $9.30 and a 52-week high of $25.49. The firm has a 50-day moving average price of $24.96 and a 200 day moving average price of $21.40. 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 Company 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.

Want to see what other hedge funds are holding AVNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avanos Medical, Inc. (NYSE:AVNS - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source