Avanos Medical (NYSE:AVNS) Stock Price Up 6.5% – Should You Buy?

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

Analyst Ratings Changes

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

Avanos Medical Stock Up 6.9 %

The firm’s 50-day moving average is $17.05 and its 200 day moving average is $20.67. The firm has a market capitalization of $776.45 million, a PE ratio of 49.81 and a beta of 0.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22.

Hedge Funds Weigh In On Avanos Medical

Several institutional investors and hedge funds have recently made changes to their positions in AVNS. Tributary Capital Management LLC lifted its position in shares of Avanos Medical by 38.1% in the 4th quarter. Tributary Capital Management LLC now owns 893,008 shares of the company’s stock worth $14,217,000 after purchasing an additional 246,379 shares during the period. Barclays PLC boosted its stake in Avanos Medical by 446.2% during the third quarter. Barclays PLC now owns 96,194 shares of the company’s stock worth $2,311,000 after acquiring an additional 78,583 shares in the last quarter. FMR LLC increased its stake in Avanos Medical by 34.6% in the third quarter. FMR LLC now owns 133,844 shares of the company’s stock valued at $3,216,000 after purchasing an additional 34,421 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Avanos Medical by 21.0% in the 2nd quarter. AQR Capital Management LLC now owns 146,983 shares of the company’s stock valued at $2,875,000 after buying an additional 25,467 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Avanos Medical by 194.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company’s stock worth $863,000 after buying an additional 23,714 shares during the period. Institutional investors and hedge funds own 95.17% of the company’s stock.

Avanos Medical Company Profile

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.