Meyer Handelman Co. reduced its holdings in shares of Avanos Medical Inc (NYSE:AVNS) by 15.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,135 shares of the company’s stock after selling 3,025 shares during the quarter. Meyer Handelman Co.’s holdings in Avanos Medical were worth $1,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Whittier Trust Co. bought a new position in shares of Avanos Medical during the 3rd quarter worth approximately $110,000. Public Employees Retirement System of Ohio bought a new position in shares of Avanos Medical during the 2nd quarter worth approximately $136,000. CENTRAL TRUST Co bought a new position in shares of Avanos Medical during the 3rd quarter worth approximately $167,000. Bank of Montreal Can bought a new position in shares of Avanos Medical during the 3rd quarter worth approximately $197,000. Finally, First National Bank & Trust Co. of Newtown bought a new position in shares of Avanos Medical during the 3rd quarter worth approximately $204,000. 84.10% of the stock is owned by institutional investors.

NYSE:AVNS opened at $50.70 on Friday. Avanos Medical Inc has a 1-year low of $43.78 and a 1-year high of $72.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.18. The firm has a market capitalization of $2.36 billion, a P/E ratio of 21.22 and a beta of 1.86.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, November 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. Avanos Medical had a net margin of 14.26% and a return on equity of 6.59%. The business had revenue of $165.10 million during the quarter, compared to analysts’ expectations of $166.57 million. Avanos Medical’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avanos Medical Inc will post 1.83 EPS for the current year.

Several brokerages have recently weighed in on AVNS. Zacks Investment Research cut shares of Avanos Medical from a “hold” rating to a “sell” rating in a research note on Wednesday. TheStreet cut shares of Avanos Medical from a “b-” rating to a “c” rating in a research note on Wednesday. Morgan Stanley raised their price target on shares of Avanos Medical from $60.00 to $62.00 and gave the stock an “underweight” rating in a research note on Thursday, October 11th. KeyCorp raised their price target on shares of Avanos Medical from $66.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 8th. Finally, Barclays began coverage on shares of Avanos Medical in a research note on Monday, October 15th. They set an “equal weight” rating and a $69.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Avanos Medical has a consensus rating of “Hold” and a consensus price target of $69.25.

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Avanos Medical Company Profile

Avanos Medical, Inc operates as a medical technology company that focuses on eliminating pain, speeding recovery, and preventing infection for healthcare providers and patients worldwide. Its Medical Devices segment provides a portfolio of products that focuses on respiratory and digestive health, along with surgical and interventional pain management.

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Institutional Ownership by Quarter for Avanos Medical (NYSE:AVNS)

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