T. Rowe Price Investment Management Inc. Has $53.85 Million Position in Avanos Medical, Inc. $AVNS

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Avanos Medical by 24.8%, acquiring an additional 746,264 shares, and now owns approximately 8.13% of the company worth $53.8 million.
• Avanos Medical recently received mixed reviews from analysts, with Zacks upgrading the stock to a "hold" rating while Wall Street Zen downgraded it from "strong-buy" to "buy."
• The company's latest earnings report showed an EPS of $0.17, falling short of the consensus estimate, and it set guidance for FY 2025 between $0.750 and $0.950 EPS.

T. Rowe Price Investment Management Inc. grew its position in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 24.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,757,576 shares of the company's stock after acquiring an additional 746,264 shares during the quarter. T. Rowe Price Investment Management Inc. owned 8.13% of Avanos Medical worth $53,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AVNS. State of Wyoming grew its stake in Avanos Medical by 132.0% in the 4th quarter. State of Wyoming now owns 5,137 shares of the company's stock valued at $82,000 after purchasing an additional 2,923 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Avanos Medical by 493.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company's stock valued at $129,000 after acquiring an additional 6,714 shares during the last quarter. Heritage Family Offices LLP purchased a new position in shares of Avanos Medical during the first quarter worth about $146,000. EP Wealth Advisors LLC boosted its holdings in shares of Avanos Medical by 14.6% in the 4th quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock worth $161,000 after purchasing an additional 1,289 shares in the last quarter. Finally, Mariner LLC boosted its position in 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 period. Hedge funds and other institutional investors own 95.17% of the company's stock.

Insider Buying and Selling

In other news, Director Gary Blackford acquired 40,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $10.99 per share, with a total value of $439,600.00. Following the completion of the acquisition, the director owned 40,000 shares in the company, valued at approximately $439,600. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.64% of the stock is currently owned by company insiders.

Avanos Medical Stock Performance

Shares of NYSE AVNS traded down $0.14 during trading hours on Thursday, hitting $11.73. 123,176 shares of the company's stock were exchanged, compared to its average volume of 538,804. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $25.36. The company's 50-day moving average price is $11.63 and its 200-day moving average price is $12.92. The stock has a market capitalization of $544.27 million, a price-to-earnings ratio of -1.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.58.

Avanos Medical (NYSE:AVNS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Avanos Medical had a positive return on equity of 6.16% and a negative net margin of 66.89%.The firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $165.50 million. During the same period last year, the business earned $0.34 earnings per share. Avanos Medical has set its FY 2025 guidance at 0.750-0.950 EPS. On average, sell-side analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AVNS has been the subject of a number of research reports. Zacks Research upgraded Avanos Medical to a "hold" rating in a report on Tuesday, August 12th. Wall Street Zen lowered shares of Avanos Medical from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold".

About Avanos Medical

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.