Public Sector Pension Investment Board Acquires 30,662 Shares of AVANOS MEDICAL, INC. $AVNS

Key Points

• The Public Sector Pension Investment Board increased its stake in AVANOS MEDICAL by 26.7% during Q1, acquiring an additional 30,662 shares.
• Director Gary Blackford bought 40,000 shares of AVANOS MEDICAL at $10.99 per share, enhancing his ownership significantly.
• AVANOS MEDICAL's most recent earnings report revealed a quarterly EPS of $0.17, missing estimates by $0.01, despite revenues of $175 million exceeding expectations of $165.5 million.

Public Sector Pension Investment Board raised its position in shares of AVANOS MEDICAL, INC. (NYSE:AVNS - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 145,704 shares of the company's stock after buying an additional 30,662 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of AVANOS MEDICAL worth $2,088,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AVNS. LPL Financial LLC lifted its position in shares of AVANOS MEDICAL by 25.5% during the fourth quarter. LPL Financial LLC now owns 20,552 shares of the company's stock valued at $327,000 after buying an additional 4,176 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of AVANOS MEDICAL by 19.2% during the fourth quarter. Wells Fargo & Company MN now owns 104,830 shares of the company's stock valued at $1,669,000 after buying an additional 16,868 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of AVANOS MEDICAL by 15.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 128,567 shares of the company's stock valued at $2,047,000 after buying an additional 17,504 shares during the last quarter. Invesco Ltd. lifted its position in shares of AVANOS MEDICAL by 28.8% during the fourth quarter. Invesco Ltd. now owns 363,738 shares of the company's stock valued at $5,791,000 after buying an additional 81,275 shares during the last quarter. Finally, Mariner LLC lifted its position in shares of AVANOS MEDICAL by 18.0% during the fourth quarter. Mariner LLC now owns 10,655 shares of the company's stock valued at $170,000 after buying an additional 1,625 shares during the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AVANOS MEDICAL news, Director Gary Blackford purchased 40,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $10.99 per share, for a total transaction of $439,600.00. Following the acquisition, the director owned 40,000 shares in the company, valued at $439,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.64% of the company's stock.

AVANOS MEDICAL Stock Performance

Shares of AVANOS MEDICAL stock opened at $11.3710 on Thursday. The firm has a market capitalization of $527.61 million, a P/E ratio of -1.13 and a beta of 1.12. The company has a quick ratio of 1.58, a current ratio of 2.64 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average price of $11.69 and a 200 day moving average price of $13.10. AVANOS MEDICAL, INC. has a 52 week low of $9.30 and a 52 week high of $25.36.

AVANOS MEDICAL (NYSE:AVNS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $175.00 million during the quarter, compared to analysts' expectations of $165.50 million. AVANOS MEDICAL had a negative net margin of 66.89% and a positive return on equity of 6.16%. During the same period in the previous year, the business earned $0.34 earnings per share. AVANOS MEDICAL has set its FY 2025 guidance at 0.750-0.950 EPS. Sell-side analysts expect that AVANOS MEDICAL, INC. will post 1.32 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on AVNS shares. Zacks Research raised shares of AVANOS MEDICAL to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of AVANOS MEDICAL from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

AVANOS MEDICAL Company Profile

Avanos Medical, Inc, a medical technology company, offers medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.

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