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.
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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