Avanos Medical, Inc. (NYSE:AVNS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in Avanos Medical, Inc. (NYSE:AVNS) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,193 shares of the company’s stock after selling 1,890 shares during the period. Corebridge Financial Inc.’s holdings in Avanos Medical were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Avanos Medical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,339,778 shares of the company’s stock worth $85,009,000 after purchasing an additional 19,476 shares during the period. LPL Financial LLC raised its holdings in Avanos Medical by 25.5% in the fourth quarter. LPL Financial LLC now owns 20,552 shares of the company’s stock valued at $327,000 after acquiring an additional 4,176 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Avanos Medical in the fourth quarter worth approximately $162,000. Hillsdale Investment Management Inc. grew its holdings in Avanos Medical by 8.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 177,000 shares of the company’s stock worth $2,818,000 after acquiring an additional 13,720 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Avanos Medical by 9.6% in the 4th quarter. American Century Companies Inc. now owns 105,112 shares of the company’s stock valued at $1,673,000 after purchasing an additional 9,249 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Avanos Medical Stock Performance

NYSE AVNS opened at $13.16 on Thursday. Avanos Medical, Inc. has a 1 year low of $12.09 and a 1 year high of $25.36. 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 market capitalization of $605.17 million, a PE ratio of 38.69 and a beta of 1.15. The company has a fifty day moving average of $15.04 and a two-hundred day moving average of $17.65.

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

Insider Activity

In other 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 transaction, the senior vice president now directly owns 82,047 shares of the company’s stock, valued at $1,251,216.75. This represents a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.64% of the company’s stock.

Analyst Ratings Changes

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

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.