Meyer Handelman Co. cut its holdings in shares of Avanos Medical Inc (NYSE:AVNS) by 15.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,135 shares of the company’s stock after selling 3,025 shares during the period. Meyer Handelman Co.’s holdings in Avanos Medical were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Avanos Medical in the 3rd quarter valued at approximately $1,602,000. WINTON GROUP Ltd acquired a new stake in shares of Avanos Medical in the 3rd quarter valued at approximately $11,042,000. TCI Wealth Advisors Inc. acquired a new stake in shares of Avanos Medical in the 3rd quarter valued at approximately $218,000. HL Financial Services LLC acquired a new stake in shares of Avanos Medical in the 3rd quarter valued at approximately $240,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Avanos Medical in the 3rd quarter valued at approximately $294,000. Institutional investors own 84.10% of the company’s stock.
Shares of NYSE:AVNS opened at $50.70 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of 21.22 and a beta of 1.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.78. Avanos Medical Inc has a fifty-two week low of $43.78 and a fifty-two week high of $72.96.
Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Avanos Medical had a net margin of 14.26% and a return on equity of 6.59%. The business had revenue of $165.10 million for the quarter, compared to the consensus estimate of $166.57 million. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that Avanos Medical Inc will post 1.83 EPS for the current fiscal year.
AVNS has been the topic of a number of analyst reports. Raymond James upgraded shares of Avanos Medical from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 21st. Morgan Stanley increased their price target on shares of Avanos Medical from $58.00 to $60.00 and gave the company an “underweight” rating in a research report on Wednesday, August 8th. Barclays initiated coverage on shares of Avanos Medical in a research report on Monday, October 15th. They issued an “equal weight” rating and a $69.00 price target on the stock. Zacks Investment Research downgraded shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, KeyCorp increased their price target on shares of Avanos Medical from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.25.
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Avanos Medical Company Profile
Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.
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