Victory Capital Management Inc. Trims Stock Position in Avanos Medical, Inc. (NYSE:AVNS)

Key Points

• Victory Capital Management Inc. reduced its holdings in AVANOS MEDICAL, INC. by 32.1%, owning 50,884 shares valued at approximately $729,000 as of the most recent reporting period.
• Other institutional investors such as the State of Wyoming and Tower Research Capital LLC significantly increased their stakes in AVANOS MEDICAL, reflecting strong interest in the stock.
• AVANOS MEDICAL recently reported earnings of $0.26 per share, exceeding analysts' expectations, with a revenue of $167.50 million for the quarter, demonstrating a year-over-year revenue growth of 0.8%.

Victory Capital Management Inc. trimmed its position in Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 32.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,884 shares of the company's stock after selling 24,066 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Avanos Medical worth $729,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AVNS. State of Wyoming lifted its stake in shares of Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company's stock worth $82,000 after purchasing an additional 2,923 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Avanos Medical by 493.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company's stock worth $129,000 after acquiring an additional 6,714 shares during the period. EP Wealth Advisors LLC boosted its position in Avanos Medical by 14.6% during the fourth 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. Heritage Family Offices LLP purchased a new position in Avanos Medical during the first quarter worth approximately $146,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Avanos Medical in the fourth quarter valued at approximately $162,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Trading Up 2.9%

Avanos Medical stock traded up $0.29 during trading on Wednesday, reaching $10.18. 412,085 shares of the company were exchanged, compared to its average volume of 509,655. Avanos Medical, Inc. has a 52-week low of $9.30 and a 52-week high of $25.36. The company has a market capitalization of $470.77 million, a P/E ratio of -1.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.57 and a quick ratio of 1.56. The stock's 50 day simple moving average is $12.03 and its two-hundred day simple moving average is $13.51.

Avanos Medical (NYSE:AVNS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The company had revenue of $175.00 million for the quarter, compared to analysts' expectations of $165.50 million. Avanos Medical had a positive return on equity of 6.26% and a negative net margin of 55.80%. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities research analysts expect that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Avanos Medical Profile

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.