Meyer Handelman Co. Decreases Stake in Avanos Medical Inc (AVNS)
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.
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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