Kestrel Investment Management Corp Takes Position in Avanos Medical, Inc. (NYSE:AVNS)

Kestrel Investment Management Corp purchased a new stake in shares of Avanos Medical, Inc. (NYSE:AVNS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 145,550 shares of the company’s stock, valued at approximately $3,265,000. Avanos Medical makes up about 2.2% of Kestrel Investment Management Corp’s investment portfolio, making the stock its 22nd biggest position. Kestrel Investment Management Corp owned about 0.31% of Avanos Medical as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC bought a new position in Avanos Medical in the 3rd quarter worth $22,134,000. Norges Bank bought a new position in Avanos Medical in the 4th quarter worth $11,055,000. Goldman Sachs Group Inc. raised its holdings in Avanos Medical by 24.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,998,871 shares of the company’s stock worth $66,962,000 after acquiring an additional 392,870 shares during the period. Macquarie Group Ltd. raised its holdings in Avanos Medical by 21.4% in the 1st quarter. Macquarie Group Ltd. now owns 1,987,355 shares of the company’s stock worth $59,104,000 after acquiring an additional 349,799 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Avanos Medical by 9.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,173,794 shares of the company’s stock worth $94,387,000 after acquiring an additional 281,958 shares during the period. Institutional investors own 95.17% of the company’s stock.

Insider Buying and Selling at Avanos Medical

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the transaction, the chief financial officer now directly owns 151,495 shares in the company, valued at $2,896,584.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Avanos Medical from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th.

Avanos Medical Price Performance

Shares of Avanos Medical stock traded up $0.02 during trading on Friday, hitting $18.72. 183,669 shares of the company’s stock traded hands, compared to its average volume of 284,986. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.08 and a quick ratio of 1.38. The firm’s fifty day moving average price is $19.31 and its 200 day moving average price is $19.96. Avanos Medical, Inc. has a twelve month low of $17.24 and a twelve month high of $31.31. The company has a market cap of $864.86 million, a PE ratio of -14.17, a PEG ratio of 1.09 and a beta of 0.96.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $173.30 million for the quarter, compared to analyst estimates of $170.43 million. Avanos Medical had a negative net margin of 8.76% and a positive return on equity of 4.25%. Avanos Medical’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Analysts forecast that Avanos Medical, Inc. will post 1.38 earnings per share for the current year.

Avanos Medical Profile

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.