Avanos Medical, Inc. (NYSE:AVNS) Short Interest Up 25.7% in February

Avanos Medical, Inc. (NYSE:AVNS) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 888,700 shares, an increase of 25.7% from the February 13th total of 707,000 shares. Based on an average daily volume of 492,300 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.0% of the shares of the company are sold short.

Insider Buying and Selling

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.25, for a total value of $106,750.00. Following the completion of the sale, the senior vice president now owns 82,047 shares in the company, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Avanos Medical

A number of large investors have recently bought and sold shares of AVNS. Janney Montgomery Scott LLC raised its stake in Avanos Medical by 194.3% in the third quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company’s stock worth $863,000 after buying an additional 23,714 shares in the last quarter. KBC Group NV raised its stake in Avanos Medical by 63.0% in the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after buying an additional 1,095 shares in the last quarter. Natixis Advisors LLC raised its stake in Avanos Medical by 13.6% in the third quarter. Natixis Advisors LLC now owns 21,452 shares of the company’s stock worth $515,000 after buying an additional 2,574 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Avanos Medical by 58.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,668 shares of the company’s stock worth $1,097,000 after buying an additional 16,929 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new position in Avanos Medical in the third quarter worth approximately $544,000. Institutional investors own 95.17% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Avanos Medical from a “hold” rating to a “buy” rating in a research report on Wednesday.

Avanos Medical Trading Up 0.4 %

AVNS opened at $14.66 on Wednesday. The firm has a market cap of $674.59 million, a P/E ratio of 43.13 and a beta of 1.17. Avanos Medical has a 12 month low of $14.25 and a 12 month high of $25.36. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $15.87 and a 200 day moving average of $18.84.

Avanos Medical (NYSE:AVNS) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. The firm had revenue of $179.60 million during the quarter, compared to the consensus estimate of $177.23 million. As a group, research analysts forecast that Avanos Medical 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.