Two Sigma Advisers LP Cuts Stock Position in Avanos Medical, Inc. (NYSE:AVNS)

Two Sigma Advisers LP lowered its holdings in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,400 shares of the company's stock after selling 19,900 shares during the period. Two Sigma Advisers LP owned approximately 0.14% of Avanos Medical worth $1,025,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Avanos Medical during the 4th quarter valued at $64,000. State of Wyoming raised its stake in Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company's stock valued at $82,000 after buying an additional 2,923 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in 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 buying an additional 6,714 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Avanos Medical by 14.6% during the 4th quarter. EP Wealth Advisors LLC now owns 10,108 shares of the company's stock valued at $161,000 after buying an additional 1,289 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Avanos Medical during the 4th quarter valued at $162,000. Institutional investors own 95.17% of the company's stock.

Avanos Medical Stock Performance

Shares of NYSE:AVNS traded down $0.13 during midday trading on Thursday, hitting $12.34. The company had a trading volume of 342,455 shares, compared to its average volume of 367,949. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46. The company has a market cap of $570.56 million, a price-to-earnings ratio of 36.29 and a beta of 1.13. Avanos Medical, Inc. has a 12-month low of $11.84 and a 12-month high of $25.36. The company has a fifty day moving average of $12.66 and a two-hundred day moving average of $15.07.

Avanos Medical (NYSE:AVNS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.07. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $161.75 million. During the same quarter in the prior year, the business posted $0.22 EPS. Avanos Medical's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts expect that Avanos Medical, Inc. will post 1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Avanos Medical from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th.

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.