Diamond Hill Capital Management Inc. Buys 75,041 Shares of Avanos Medical, Inc. $AVNS

Diamond Hill Capital Management Inc. increased its stake in Avanos Medical, Inc. (NYSE:AVNS) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 509,702 shares of the company’s stock after purchasing an additional 75,041 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Avanos Medical were worth $5,724,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AVNS. Northwestern Mutual Wealth Management Co. raised its holdings in Avanos Medical by 1,596,514.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company’s stock worth $167,287,000 after purchasing an additional 14,895,480 shares during the period. Millennium Management LLC raised its holdings in Avanos Medical by 312.4% in the 3rd quarter. Millennium Management LLC now owns 896,242 shares of the company’s stock worth $10,361,000 after purchasing an additional 678,898 shares during the period. Armistice Capital LLC raised its holdings in Avanos Medical by 22.8% in the 3rd quarter. Armistice Capital LLC now owns 2,500,000 shares of the company’s stock worth $28,900,000 after purchasing an additional 464,000 shares during the period. Ameriprise Financial Inc. raised its holdings in Avanos Medical by 356.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 591,181 shares of the company’s stock worth $6,834,000 after purchasing an additional 461,706 shares during the period. Finally, Citadel Advisors LLC raised its holdings in Avanos Medical by 212.0% in the 3rd quarter. Citadel Advisors LLC now owns 574,104 shares of the company’s stock worth $6,637,000 after purchasing an additional 390,082 shares during the period. 95.17% of the stock is owned by institutional investors.

Avanos Medical Price Performance

NYSE:AVNS opened at $24.65 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $19.67 and its two-hundred day simple moving average is $15.01. The stock has a market cap of $1.15 billion, a PE ratio of -15.31 and a beta of 1.58. Avanos Medical, Inc. has a 52 week low of $9.30 and a 52 week high of $24.91.

Avanos Medical (NYSE:AVNS) last issued its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Avanos Medical had a positive return on equity of 5.39% and a negative net margin of 10.39%.The firm had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $170.00 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, analysts forecast that Avanos Medical, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AVNS has been the topic of a number of recent research reports. Zacks Research cut Avanos Medical from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Weiss Ratings raised Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen cut Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Avanos Medical Company 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.