Avanos Medical (NYSE:AVNS) Hits New 52-Week Low – Should You Sell?

Avanos Medical, Inc. (NYSE:AVNS) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.28 and last traded at $14.31, with a volume of 110741 shares traded. The stock had previously closed at $14.75.

Wall Street Analyst Weigh In

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

Avanos Medical Stock Down 1.0 %

The business’s 50 day simple moving average is $15.98 and its 200 day simple moving average is $19.18. The company has a market capitalization of $672.01 million, a PE ratio of 42.95 and a beta of 1.17. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 EPS 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 business had revenue of $179.60 million during the quarter, compared to the consensus estimate of $177.23 million. As a group, analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current year.

Insider Transactions at Avanos Medical

In related news, SVP Kerr Holbrook sold 7,000 shares of the stock in a transaction dated 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 directly owns 82,047 shares of the company’s stock, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors and hedge funds have recently bought and sold shares of AVNS. Quarry LP purchased a new position in shares of Avanos Medical during the 3rd quarter valued at $42,000. KBC Group NV grew its position 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 acquiring an additional 1,095 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Avanos Medical during the 4th quarter worth $64,000. State of Wyoming raised its holdings in shares of Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company’s stock valued at $82,000 after purchasing an additional 2,923 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Avanos Medical by 493.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock valued at $129,000 after purchasing an additional 6,714 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

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.