Sei Investments Co. Purchases 92,063 Shares of Avanos Medical, Inc. $AVNS

Key Points

• Sei Investments increased its Avanos Medical stake by 121.3% in the first quarter, purchasing 92,063 additional shares and bringing its holdings to 167,936 shares worth approximately $2.35 million.
• Several other institutional investors also expanded their positions, including Millennium Management, which boosted its stake by 508.3%. Institutional investors collectively own 95.17% of Avanos Medical.
• Avanos shares opened at $24.99, near their 52-week high of $25.49, but analyst sentiment remains cautious: the stock has a consensus rating of “Reduce,” with one Hold and one Sell rating.

Sei Investments Co. grew its holdings in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 121.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,936 shares of the company's stock after acquiring an additional 92,063 shares during the period. Sei Investments Co. owned 0.36% of Avanos Medical worth $2,353,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in Avanos Medical by 46.4% during the first quarter. AQR Capital Management LLC now owns 192,864 shares of the company's stock worth $2,700,000 after purchasing an additional 61,095 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Avanos Medical by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company's stock valued at $386,000 after buying an additional 1,121 shares during the period. Millennium Management LLC lifted its stake in Avanos Medical by 508.3% in the first quarter. Millennium Management LLC now owns 547,740 shares of the company's stock valued at $7,849,000 after buying an additional 457,703 shares during the period. Empowered Funds LLC boosted its holdings in shares of Avanos Medical by 5.4% during the 1st quarter. Empowered Funds LLC now owns 162,182 shares of the company's stock worth $2,324,000 after buying an additional 8,348 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Avanos Medical by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,810 shares of the company's stock worth $2,018,000 after buying an additional 20,541 shares in the last quarter. 95.17% of the stock is owned by institutional investors.

Avanos Medical Price Performance

Shares of NYSE:AVNS opened at $24.99 on Friday. The business's 50 day simple moving average is $24.96 and its two-hundred day simple moving average is $20.16. The firm has a market cap of $1.17 billion, a P/E 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. Avanos Medical, Inc. has a 52-week low of $9.30 and a 52-week high of $25.49.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AVNS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Avanos Medical in a research report on Monday, July 20th. Zacks Research raised shares of Avanos Medical from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. Finally, Wall Street Zen cut shares of Avanos Medical from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. One research 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, Avanos Medical presently has a consensus 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.

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