Arrowstreet Capital Limited Partnership Sells 195,514 Shares of Avanos Medical, Inc. (NYSE:AVNS)

Arrowstreet Capital Limited Partnership lowered its stake in Avanos Medical, Inc. (NYSE:AVNS) by 43.0% during the fourth quarter, Holdings Channel reports. The firm owned 259,417 shares of the company’s stock after selling 195,514 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Avanos Medical were worth $4,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its holdings in shares of Avanos Medical by 3.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 25,236 shares of the company’s stock valued at $402,000 after purchasing an additional 748 shares in the last quarter. Quarry LP acquired a new stake in Avanos Medical in the third quarter valued at about $42,000. US Bancorp DE grew its position in Avanos Medical by 18.0% in the fourth quarter. US Bancorp DE now owns 14,093 shares of the company’s stock valued at $224,000 after acquiring an additional 2,147 shares during the last quarter. New York State Teachers Retirement System raised its stake in Avanos Medical by 4.0% during the fourth quarter. New York State Teachers Retirement System now owns 75,215 shares of the company’s stock worth $1,197,000 after acquiring an additional 2,921 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Avanos Medical in the fourth quarter worth about $64,000. Institutional investors and hedge funds own 95.17% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Avanos Medical from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th.

Avanos Medical Stock Down 4.4 %

Shares of AVNS opened at $12.37 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22. The stock has a market capitalization of $568.92 million, a price-to-earnings ratio of 36.37 and a beta of 1.15. Avanos Medical, Inc. has a 52 week low of $12.28 and a 52 week high of $25.36. The stock has a fifty day moving average of $15.21 and a 200-day moving average of $17.76.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $179.60 million for the quarter, compared to analyst estimates of $177.23 million. Avanos Medical had a net margin of 2.30% and a return on equity of 4.70%. As a group, sell-side analysts anticipate that Avanos Medical, Inc. will post 1.32 earnings per share for the current fiscal year.

Insider Activity at Avanos Medical

In other Avanos Medical news, SVP Kerr Holbrook sold 7,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.25, for a total transaction of $106,750.00. Following the sale, the senior vice president now owns 82,047 shares of the company’s stock, valued at approximately $1,251,216.75. This represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.64% of the stock is currently owned by company insiders.

Avanos Medical 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.