Avanos Medical (NYSE:AVNS) Sets New 12-Month Low – What’s Next?

Avanos Medical, Inc. (NYSE:AVNS)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.35 and last traded at $17.63, with a volume of 6665 shares trading hands. The stock had previously closed at $17.75.

Analysts Set New Price Targets

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

Avanos Medical Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46. The company has a 50-day simple moving average of $20.27 and a 200-day simple moving average of $21.44. The stock has a market cap of $797.35 million, a PE ratio of 52.21 and a beta of 0.95.

Hedge Funds Weigh In On Avanos Medical

Several hedge funds have recently bought and sold shares of AVNS. Paradice Investment Management LLC grew its holdings in Avanos Medical by 5.4% in the second quarter. Paradice Investment Management LLC now owns 1,344,949 shares of the company’s stock valued at $26,791,000 after purchasing an additional 69,389 shares during the last quarter. Geode Capital Management LLC raised its position in Avanos Medical by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,054,162 shares of the company’s stock worth $25,337,000 after acquiring an additional 16,065 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Avanos Medical by 1.1% in the third quarter. Foundry Partners LLC now owns 163,030 shares of the company’s stock valued at $3,918,000 after purchasing an additional 1,800 shares in the last quarter. 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, FMR LLC increased its stake in shares of Avanos Medical by 34.6% during the 3rd quarter. FMR LLC now owns 133,844 shares of the company’s stock worth $3,216,000 after purchasing an additional 34,421 shares in the last quarter. 95.17% of the stock is owned by hedge funds and other institutional investors.

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.