NINE MASTS CAPITAL Ltd Acquires New Position in Avanos Medical, Inc. $AVNS

Key Points

• NINE MASTS CAPITAL Ltd acquired 50,000 Avanos Medical shares worth approximately $1.24 million during the second quarter, representing about 0.11% of the company.
• Institutional ownership remains substantial at 95.17%, with several major funds—including BlackRock, Northwestern Mutual Wealth Management and Armistice Capital—recently increasing or initiating positions.
• Avanos shares opened at $24.99, near their 52-week high of $25.49, but analyst sentiment remains cautious: coverage includes one Hold and one Sell rating, producing a consensus rating of “Reduce.”

NINE MASTS CAPITAL Ltd acquired a new position in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 50,000 shares of the company's stock, valued at approximately $1,244,000. NINE MASTS CAPITAL Ltd owned approximately 0.11% of Avanos Medical at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Avanos Medical by 1,596,514.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company's stock worth $167,287,000 after acquiring an additional 14,895,480 shares during the period. BlackRock Inc. purchased a new stake in Avanos Medical during the second quarter worth $185,824,000. Armistice Capital LLC grew its holdings in Avanos Medical by 28.0% in the fourth quarter. Armistice Capital LLC now owns 3,200,000 shares of the company's stock valued at $35,936,000 after purchasing an additional 700,000 shares during the last quarter. Millennium Management LLC increased its position in shares of Avanos Medical by 312.4% in the third quarter. Millennium Management LLC now owns 896,242 shares of the company's stock valued at $10,361,000 after buying an additional 678,898 shares in the last quarter. Finally, Samson Rock Capital LLP purchased a new position in shares of Avanos Medical in the second quarter valued at $14,928,000. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Stock Performance

Shares of AVNS opened at $24.99 on Tuesday. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $25.49. The company's 50 day simple moving average is $24.96 and its 200 day simple moving average is $20.73. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.52 and a beta of 1.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.48.

Analyst Ratings Changes

Several research firms recently commented on AVNS. Zacks Research upgraded shares of Avanos Medical from a "strong sell" rating to a "hold" rating in a research report on Friday, June 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Avanos Medical in a report on Monday, July 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce".

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