UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Avanos Medical, Inc. $AVNS

Key Points

• UBS Asset Management cut its Avanos Medical stake by 29.9% in the second quarter, selling 62,894 shares and retaining 147,266 shares valued at approximately $3.66 million.
• Institutional investors and hedge funds own 95.17% of AVNS, with several firms increasing their positions during recent quarters.
• Avanos shares opened at $24.99, near their 52-week high of $25.49, while analysts maintain a cautious outlook with a consensus rating of “Reduce”.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 29.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,266 shares of the company's stock after selling 62,894 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Avanos Medical worth $3,664,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Federated Hermes Inc. lifted its stake in shares of Avanos Medical by 2.8% in the fourth quarter. Federated Hermes Inc. now owns 25,774 shares of the company's stock worth $289,000 after buying an additional 691 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Avanos Medical by 15.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,317 shares of the company's stock valued at $89,000 after acquiring an additional 846 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Avanos Medical by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company's stock valued at $386,000 after acquiring an additional 1,121 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Avanos Medical by 132.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company's stock valued at $28,000 after acquiring an additional 1,423 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Avanos Medical by 2.1% in the 4th quarter. Swiss National Bank now owns 91,500 shares of the company's stock worth $1,028,000 after purchasing an additional 1,900 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Avanos Medical Stock Performance

NYSE:AVNS opened at $24.99 on Thursday. The company's 50-day moving average is $24.98 and its two-hundred day moving average is $22.01. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $25.49. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.48 and a quick ratio of 1.40. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.52 and a beta of 1.57.

Analyst Upgrades and Downgrades

AVNS has been the subject of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Avanos Medical in a research report on Monday, July 20th. Zacks Research upgraded Avanos Medical from a "strong sell" rating to a "hold" rating in a research report on Friday, June 5th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently 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.

Want to see what other hedge funds are holding AVNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avanos Medical, Inc. (NYSE:AVNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.