Northern Trust Corp Raises Position in Avanos Medical, Inc. (NYSE:AVNS)

Northern Trust Corp raised its stake in shares of Avanos Medical, Inc. (NYSE:AVNS) by 4.9% during the fourth quarter, HoldingsChannel reports. The firm owned 526,763 shares of the company’s stock after buying an additional 24,720 shares during the quarter. Northern Trust Corp’s holdings in Avanos Medical were worth $8,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tudor Investment Corp ET AL purchased a new stake in Avanos Medical during the fourth quarter valued at approximately $519,000. Aquatic Capital Management LLC raised its position in Avanos Medical by 86.6% during the fourth quarter. Aquatic Capital Management LLC now owns 21,274 shares of the company’s stock valued at $339,000 after purchasing an additional 9,874 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Avanos Medical by 27.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,011,312 shares of the company’s stock valued at $47,941,000 after buying an additional 644,267 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Avanos Medical by 493.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock valued at $129,000 after buying an additional 6,714 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Avanos Medical during the fourth quarter valued at approximately $1,234,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kerr Holbrook sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.25, for a total transaction of $106,750.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.64% of the company’s stock.

Analysts Set New Price Targets

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

Avanos Medical Trading Up 2.9%

AVNS opened at $13.12 on Monday. The stock has a market cap of $606.54 million, a price-to-earnings ratio of 38.58 and a beta of 1.13. The stock’s 50 day moving average price is $13.19 and its 200-day moving average price is $15.70. Avanos Medical, Inc. has a one year low of $11.84 and a one year high of $25.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $161.75 million. Avanos Medical had a return on equity of 4.70% and a net margin of 2.30%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts forecast that Avanos Medical, Inc. will post 1.32 EPS for the current year.

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.