Cary Street Partners Financial LLC Takes Position in Avanos Medical, Inc. (NYSE:AVNS)

Cary Street Partners Financial LLC bought a new stake in Avanos Medical, Inc. (NYSE:AVNS) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,764 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors have also bought and sold shares of AVNS. LPL Financial LLC lifted its stake in Avanos Medical by 25.5% in the fourth quarter. LPL Financial LLC now owns 20,552 shares of the company’s stock valued at $327,000 after purchasing an additional 4,176 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Avanos Medical by 189.8% during the fourth quarter. JPMorgan Chase & Co. now owns 201,634 shares of the company’s stock worth $3,210,000 after acquiring an additional 132,063 shares in the last quarter. Norges Bank purchased a new stake in shares of Avanos Medical during the fourth quarter worth $1,664,000. Franklin Resources Inc. lifted its position in shares of Avanos Medical by 1.6% during the fourth quarter. Franklin Resources Inc. now owns 250,493 shares of the company’s stock worth $3,988,000 after acquiring an additional 4,065 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Avanos Medical by 19.2% during the fourth quarter. Wells Fargo & Company MN now owns 104,830 shares of the company’s stock worth $1,669,000 after acquiring an additional 16,868 shares in the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Avanos Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Avanos Medical Trading Up 0.3%

NYSE:AVNS opened at $10.78 on Friday. The company has a market cap of $499.98 million, a P/E ratio of -1.07 and a beta of 1.12. The stock’s fifty day moving average price is $11.92 and its two-hundred day moving average price is $13.39. Avanos Medical, Inc. has a 1 year low of $9.30 and a 1 year high of $25.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.64 and a quick ratio of 1.56.

Avanos Medical (NYSE:AVNS) last posted its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 6.16% and a negative net margin of 66.89%. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, analysts expect that Avanos Medical, Inc. will post 1.32 EPS for the current 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.