Counterpoint Mutual Funds LLC Acquires Shares of 4,906 Avanos Medical, Inc. (NYSE:AVNS)

Counterpoint Mutual Funds LLC acquired a new stake in Avanos Medical, Inc. (NYSE:AVNS – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,906 shares of the company’s stock, valued at approximately $133,000.

Several other hedge funds also recently added to or reduced their stakes in AVNS. State of New Jersey Common Pension Fund D increased its position in shares of Avanos Medical by 9.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 90,370 shares of the company’s stock worth $1,968,000 after acquiring an additional 8,062 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Avanos Medical during the third quarter worth about $123,000. Prudential Financial Inc. increased its position in shares of Avanos Medical by 76.7% during the third quarter. Prudential Financial Inc. now owns 377,383 shares of the company’s stock worth $8,220,000 after acquiring an additional 163,777 shares during the last quarter. Heartland Advisors Inc. increased its position in shares of Avanos Medical by 16.8% during the third quarter. Heartland Advisors Inc. now owns 461,714 shares of the company’s stock worth $10,056,000 after acquiring an additional 66,573 shares during the last quarter. Finally, Heritage Wealth Management LLC purchased a new stake in shares of Avanos Medical during the second quarter worth about $240,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Avanos Medical Stock Down 1.2 %

Avanos Medical stock traded down $0.33 during midday trading on Friday, hitting $27.77. The stock had a trading volume of 1,173,773 shares, compared to its average volume of 245,034. The company has a current ratio of 2.69, a quick ratio of 1.67 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.29 billion, a P/E ratio of 26.45 and a beta of 0.93. Avanos Medical, Inc. has a 12 month low of $19.32 and a 12 month high of $34.83. The business has a fifty day moving average price of $29.27 and a 200 day moving average price of $26.10.

Avanos Medical (NYSE:AVNS – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.12. The firm had revenue of $217.50 million during the quarter, compared to analyst estimates of $217.30 million. Avanos Medical had a return on equity of 6.13% and a net margin of 6.07%. Avanos Medical’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. Research analysts predict that Avanos Medical, Inc. will post 1.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVNS. StockNews.com began coverage on Avanos Medical in a research report on Thursday. They set a “strong-buy” rating on the stock. Morgan Stanley boosted their price objective on Avanos Medical from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, February 22nd.

About Avanos Medical

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Avanos Medical, Inc operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients’ quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care.