Voya Investment Management LLC Sells 24,679 Shares of Avanos Medical, Inc. $AVNS

Key Points

• Voya Investment Management LLC reduced its stake in AVANOS MEDICAL by 10.3%, owning 215,704 shares worth approximately $3.09 million.
• Insider activity included Director Gary Blackford purchasing 40,000 shares at an average price of $10.99, significantly increasing his ownership in the company.
• AVANOS MEDICAL reported a Q2 EPS of $0.17, missing estimates of $0.18, with revenue of $175 million exceeding the expected $165.5 million.

Voya Investment Management LLC lessened its stake in Avanos Medical, Inc. (NYSE:AVNS - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,704 shares of the company's stock after selling 24,679 shares during the period. Voya Investment Management LLC owned 0.47% of Avanos Medical worth $3,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AVNS. Armistice Capital LLC bought a new stake in shares of Avanos Medical during the 1st quarter valued at $28,660,000. T. Rowe Price Investment Management Inc. boosted its stake in Avanos Medical by 24.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,757,576 shares of the company's stock worth $53,847,000 after purchasing an additional 746,264 shares during the period. Clark Estates Inc. NY acquired a new position in Avanos Medical in the 1st quarter worth $7,077,000. Millennium Management LLC boosted its stake in Avanos Medical by 508.3% in the 1st quarter. Millennium Management LLC now owns 547,740 shares of the company's stock worth $7,849,000 after purchasing an additional 457,703 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Avanos Medical during the 1st quarter worth about $6,056,000. Institutional investors own 95.17% of the company's stock.

Insider Activity at Avanos Medical

In other Avanos Medical news, Director Gary Blackford purchased 40,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $10.99 per share, for a total transaction 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 trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AVNS shares. Wall Street Zen cut shares of Avanos Medical from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research raised shares of Avanos Medical to a "hold" rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Avanos Medical currently has a consensus rating of "Hold".

Avanos Medical Trading Down 1.3%

Avanos Medical stock traded down $0.16 during trading hours on Tuesday, hitting $11.97. The stock had a trading volume of 101,316 shares, compared to its average volume of 546,474. The company has a quick ratio of 1.58, a current ratio of 2.64 and a debt-to-equity ratio of 0.12. The stock has a market cap of $555.41 million, a price-to-earnings ratio of -1.19 and a beta of 1.12. Avanos Medical, Inc. has a one year low of $9.30 and a one year high of $24.23. The business's 50 day simple moving average is $11.62 and its 200-day simple moving average is $12.43.

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

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.