Samson Rock Capital LLP Buys New Stake in Avanos Medical, Inc. $AVNS

Key Points

• Samson Rock Capital acquired 600,000 Avanos Medical shares worth approximately $14.9 million, representing about 1.28% of the company and 32.8% of the fund’s portfolio.
• Institutional ownership remains high at 95.17%, with several hedge funds—including Northwestern Mutual, Armistice Capital, Millennium Management, Ameriprise Financial and Citadel Advisors—also increasing their positions.
• Avanos exceeded quarterly earnings and revenue expectations, reporting $0.22 in EPS and $182.2 million in revenue, but analyst sentiment remains cautious with a consensus “Reduce” rating.

Samson Rock Capital LLP purchased a new stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 600,000 shares of the company's stock, valued at approximately $14,928,000. Avanos Medical comprises about 32.8% of Samson Rock Capital LLP's portfolio, making the stock its 2nd largest holding. Samson Rock Capital LLP owned approximately 1.28% of Avanos Medical as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 last quarter. Armistice Capital LLC increased its holdings in shares of Avanos Medical by 28.0% in the fourth quarter. Armistice Capital LLC now owns 3,200,000 shares of the company's stock worth $35,936,000 after purchasing an additional 700,000 shares during the last quarter. Millennium Management LLC lifted 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 worth $10,361,000 after buying an additional 678,898 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Avanos Medical by 356.6% in the third quarter. Ameriprise Financial Inc. now owns 591,181 shares of the company's stock worth $6,834,000 after buying an additional 461,706 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Avanos Medical by 212.0% during the third quarter. Citadel Advisors LLC now owns 574,104 shares of the company's stock valued at $6,637,000 after buying an additional 390,082 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company's stock.

Wall Street Analyst Weigh In

AVNS has been the topic of a number of research reports. Wall Street Zen downgraded Avanos Medical from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Zacks Research raised shares of Avanos Medical from a "strong sell" rating to a "hold" rating in a report on Friday, June 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Avanos Medical in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce".

Avanos Medical Stock Performance

AVNS stock opened at $24.99 on Monday. Avanos Medical, Inc. has a twelve month low of $9.30 and a twelve month high of $25.49. The stock 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 quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. The firm's fifty day simple moving average is $24.94 and its two-hundred day simple moving average is $19.77.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The firm had revenue of $182.20 million during the quarter, compared to analyst estimates of $170.00 million. During the same quarter last year, the business earned $0.26 EPS. The business's revenue was up 8.8% on a year-over-year basis. As a group, analysts anticipate that Avanos Medical, Inc. will post 1.06 earnings per share for the current year.

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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