Avanos Medical (NYSE:AVNS) Reaches New 1-Year Low – Time to Sell?

by · The Markets Daily

Shares of Avanos Medical, Inc. (NYSE:AVNS – Get Free Report) reached a new 52-week low on Monday . The company traded as low as $15.51 and last traded at $15.65, with a volume of 460319 shares trading hands. The stock had previously closed at $15.55.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd.

Check Out Our Latest Stock Analysis on Avanos Medical

Avanos Medical Trading Down 0.4 %

The stock’s 50 day moving average is $18.04 and its 200-day moving average is $21.01. The company has a market cap of $707.74 million, a P/E ratio of 45.29 and a beta of 0.99. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Avanos Medical

Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in Avanos Medical by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,137 shares of the company’s stock valued at $341,000 after acquiring an additional 590 shares during the period. KBC Group NV raised its holdings in shares of Avanos Medical by 63.0% during the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after purchasing an additional 1,095 shares during the last quarter. New York State Teachers Retirement System lifted its position in Avanos Medical by 2.0% during the third quarter. New York State Teachers Retirement System now owns 72,294 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,388 shares during the period. Quarry LP bought a new position in Avanos Medical during the third quarter valued at approximately $42,000. Finally, Foundry Partners LLC boosted its holdings in Avanos Medical by 1.1% in the third quarter. Foundry Partners LLC now owns 163,030 shares of the company’s stock worth $3,918,000 after purchasing an additional 1,800 shares during the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Company Profile

(Get Free Report)

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.

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