Avanos Medical (NYSE:AVNS) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Avanos Medical (NYSE:AVNS) from a strong-buy rating to a buy rating in a research note published on Sunday.

Avanos Medical Trading Up 5.9 %

AVNS opened at $20.95 on Friday. Avanos Medical has a 52 week low of $17.39 and a 52 week high of $25.36. The business has a fifty day simple moving average of $22.90 and a 200-day simple moving average of $21.53. The firm has a market cap of $962.86 million, a P/E ratio of 61.62 and a beta of 0.92. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Institutional Trading of Avanos Medical

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in Avanos Medical in the first quarter valued at $439,000. BNP Paribas Financial Markets raised its stake in Avanos Medical by 314.4% in the first quarter. BNP Paribas Financial Markets now owns 53,583 shares of the company’s stock valued at $1,067,000 after buying an additional 40,653 shares in the last quarter. Boston Partners purchased a new position in shares of Avanos Medical during the first quarter worth about $571,000. Quest Partners LLC purchased a new position in shares of Avanos Medical during the second quarter worth about $444,000. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Avanos Medical during the second quarter worth about $551,000. 95.17% of the stock is currently owned by institutional investors and hedge funds.

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.