Armistice Capital LLC Purchases 700,000 Shares of Avanos Medical, Inc. $AVNS

Armistice Capital LLC grew its position in Avanos Medical, Inc. (NYSE:AVNS) by 28.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,200,000 shares of the company’s stock after purchasing an additional 700,000 shares during the quarter. Armistice Capital LLC owned approximately 0.07% of Avanos Medical worth $35,936,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AVNS. Northwestern Mutual Wealth Management Co. raised its stake in Avanos Medical by 1,596,514.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,896,413 shares of the company’s stock worth $167,287,000 after buying an additional 14,895,480 shares during the last quarter. State Street Corp boosted its position in Avanos Medical by 2.8% during the fourth quarter. State Street Corp now owns 1,954,785 shares of the company’s stock valued at $21,952,000 after acquiring an additional 53,523 shares during the last quarter. Geode Capital Management LLC grew its holdings in Avanos Medical by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,084,504 shares of the company’s stock worth $12,180,000 after acquiring an additional 16,980 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Avanos Medical by 20.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,666 shares of the company’s stock worth $11,687,000 after acquiring an additional 176,716 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of 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 acquiring an additional 678,898 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings upgraded Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded Avanos Medical from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Zacks Research raised Avanos Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce”.

Avanos Medical Trading Down 0.1%

AVNS opened at $24.94 on Thursday. The company has a fifty day moving average price of $23.72 and a two-hundred day moving average price of $16.75. Avanos Medical, Inc. has a 1-year low of $9.30 and a 1-year high of $25.49. The company has a market cap of $1.17 billion, a P/E ratio of -15.49 and a beta of 1.56. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 0.11.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The company had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $170.00 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Analysts predict that Avanos Medical, Inc. will post 1.06 EPS for the current fiscal year.

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.