Channing Capital Management LLC Invests $66.01 Million in Avanos Medical Inc (AVNS) Stock

Channing Capital Management LLC purchased a new stake in Avanos Medical Inc (NYSE:AVNS) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 963,635 shares of the company’s stock, valued at approximately $66,009,000. Avanos Medical accounts for about 2.4% of Channing Capital Management LLC’s holdings, making the stock its 18th largest position.

Other institutional investors have also made changes to their positions in the company. Bollard Group LLC acquired a new position in shares of Avanos Medical in the 3rd quarter valued at $100,000. Whittier Trust Co. acquired a new position in shares of Avanos Medical in the 3rd quarter valued at $110,000. Public Employees Retirement System of Ohio acquired a new position in shares of Avanos Medical in the 2nd quarter valued at $136,000. CENTRAL TRUST Co acquired a new position in shares of Avanos Medical in the 3rd quarter valued at $167,000. Finally, Bank of Montreal Can acquired a new position in shares of Avanos Medical in the 3rd quarter valued at $197,000. 88.96% of the stock is currently owned by institutional investors and hedge funds.

AVNS opened at $47.71 on Monday. Avanos Medical Inc has a 12-month low of $42.80 and a 12-month high of $72.96. The company has a current ratio of 2.78, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.26 billion, a P/E ratio of 20.39 and a beta of 1.82.

Avanos Medical (NYSE:AVNS) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.09. Avanos Medical had a return on equity of 6.59% and a net margin of 14.26%. The company had revenue of $165.10 million for the quarter, compared to the consensus estimate of $166.57 million. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts forecast that Avanos Medical Inc will post 1.83 earnings per share for the current year.

In related news, CEO Joseph Fralin Woody purchased 3,500 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were bought at an average price of $43.35 per share, for a total transaction of $151,725.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John W. Wesley purchased 1,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were bought at an average price of $47.48 per share, for a total transaction of $47,480.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 6,500 shares of company stock worth $286,685. 1.44% of the stock is owned by company insiders.

Several brokerages have recently commented on AVNS. TheStreet lowered Avanos Medical from a “b-” rating to a “c” rating in a research note on Wednesday, November 7th. Zacks Investment Research lowered Avanos Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. Barclays assumed coverage on Avanos Medical in a research note on Monday, October 15th. They set an “equal weight” rating and a $69.00 target price on the stock. Morgan Stanley increased their target price on Avanos Medical from $60.00 to $62.00 and gave the stock an “underweight” rating in a research note on Thursday, October 11th. Finally, Raymond James raised Avanos Medical from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.25.

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About Avanos Medical

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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