FNY Investment Advisers LLC Makes New $2.58 Million Investment in Avanos Medical, Inc. $AVNS

FNY Investment Advisers LLC bought a new stake in Avanos Medical, Inc. (NYSE:AVNS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 103,500 shares of the company’s stock, valued at approximately $2,575,000. Avanos Medical makes up 0.9% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 17th biggest position.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in Avanos Medical by 46.4% in the first quarter. AQR Capital Management LLC now owns 192,864 shares of the company’s stock worth $2,700,000 after purchasing an additional 61,095 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Avanos Medical by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,955 shares of the company’s stock valued at $386,000 after buying an additional 1,121 shares during the last quarter. Millennium Management LLC raised its stake in Avanos Medical by 508.3% during the first quarter. Millennium Management LLC now owns 547,740 shares of the company’s stock valued at $7,849,000 after buying an additional 457,703 shares in the last quarter. Empowered Funds LLC raised its stake in Avanos Medical by 5.4% during the first quarter. Empowered Funds LLC now owns 162,182 shares of the company’s stock valued at $2,324,000 after buying an additional 8,348 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Avanos Medical by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,810 shares of the company’s stock worth $2,018,000 after buying an additional 20,541 shares during the last quarter. Institutional investors own 95.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avanos Medical in a research report on Monday, July 20th. Wall Street Zen lowered Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Zacks Research upgraded Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Avanos Medical Price Performance

Shares of AVNS opened at $24.99 on Friday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.52 and a beta of 1.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.48. Avanos Medical, Inc. has a one year low of $9.30 and a one year high of $25.49. The stock’s fifty day moving average is $24.96 and its 200-day moving average is $20.13.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $170.00 million. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. Equities analysts anticipate that Avanos Medical, Inc. will post 1.06 EPS for the current year.

Avanos Medical Profile

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.