Avanos Medical (NYSE:AVNS) Sees Large Volume Increase – Still a Buy?

Shares of Avanos Medical, Inc. (NYSE:AVNS) saw strong trading volume on Friday . 706,848 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 609,186 shares.The stock last traded at $15.34 and had previously closed at $15.40.

Analyst Upgrades and Downgrades

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

Avanos Medical Stock Down 0.8 %

The stock has a market cap of $701.76 million, a P/E ratio of 44.91 and a beta of 0.99. The firm has a 50 day simple moving average of $17.84 and a 200-day simple moving average of $20.90. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Avanos Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in shares of Avanos Medical by 446.2% during the 3rd quarter. Barclays PLC now owns 96,194 shares of the company’s stock worth $2,311,000 after buying an additional 78,583 shares during the last quarter. FMR LLC lifted its position in Avanos Medical by 34.6% during the third quarter. FMR LLC now owns 133,844 shares of the company’s stock worth $3,216,000 after acquiring an additional 34,421 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of Avanos Medical during the second quarter worth approximately $551,000. AQR Capital Management LLC grew its position in shares of Avanos Medical by 21.0% in the second quarter. AQR Capital Management LLC now owns 146,983 shares of the company’s stock valued at $2,875,000 after purchasing an additional 25,467 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Avanos Medical by 194.3% during the third quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company’s stock worth $863,000 after purchasing an additional 23,714 shares during the period. 95.17% of the stock is 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.