Avanos Medical (NYSE:AVNS) Trading Up 6.5% – Here’s What Happened

Shares of Avanos Medical, Inc. (NYSE:AVNS) shot up 6.5% during trading on Monday . The company traded as high as $16.70 and last traded at $16.84. 460,700 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 705,137 shares. The stock had previously closed at $15.81.

Wall Street Analyst Weigh In

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

Avanos Medical Price Performance

The stock has a market cap of $792.85 million, a PE ratio of 50.74 and a beta of 0.99. The firm’s fifty day moving average price is $17.00 and its 200 day moving average price is $20.59. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Avanos Medical during the third quarter worth $42,000. KBC Group NV raised its holdings in Avanos Medical by 63.0% in the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock valued at $68,000 after acquiring an additional 1,095 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Avanos Medical during the 3rd quarter worth $207,000. Atom Investors LP purchased a new stake in shares of Avanos Medical in the 3rd quarter valued at approximately $210,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Avanos Medical during the 3rd quarter worth approximately $212,000. 95.17% of the stock is currently owned by institutional investors.

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.