Kestrel Investment Management Corp Makes New $3.27 Million Investment in Avanos Medical, Inc. (NYSE:AVNS)

Kestrel Investment Management Corp purchased a new position in shares of Avanos Medical, Inc. (NYSE:AVNS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 145,550 shares of the company’s stock, valued at approximately $3,265,000. Avanos Medical comprises 2.2% of Kestrel Investment Management Corp’s investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in AVNS. Gladius Capital Management LP bought a new stake in shares of Avanos Medical in the 3rd quarter valued at $30,000. Meeder Asset Management Inc. grew its stake in Avanos Medical by 1,702.8% in the 4th quarter. Meeder Asset Management Inc. now owns 1,911 shares of the company’s stock valued at $52,000 after purchasing an additional 1,805 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Avanos Medical by 134.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,810 shares of the company’s stock worth $72,000 after purchasing an additional 1,609 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Avanos Medical by 23.9% during the 1st quarter. Captrust Financial Advisors now owns 2,704 shares of the company’s stock worth $91,000 after purchasing an additional 521 shares in the last quarter. Finally, State of Wyoming lifted its holdings in Avanos Medical by 302.6% during the 2nd quarter. State of Wyoming now owns 4,123 shares of the company’s stock worth $105,000 after purchasing an additional 3,099 shares in the last quarter. Institutional investors own 95.17% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Avanos Medical from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th.

Avanos Medical Price Performance

Shares of NYSE:AVNS traded up $0.02 on Friday, hitting $18.72. The company’s stock had a trading volume of 183,669 shares, compared to its average volume of 284,986. The company has a 50-day simple moving average of $19.31 and a 200 day simple moving average of $19.96. Avanos Medical, Inc. has a 1 year low of $17.24 and a 1 year high of $31.31. The company has a market capitalization of $864.86 million, a PE ratio of -14.17, a PEG ratio of 1.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.08 and a quick ratio of 1.38.

Avanos Medical (NYSE:AVNS) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Avanos Medical had a negative net margin of 8.76% and a positive return on equity of 4.25%. The business had revenue of $173.30 million during the quarter, compared to analysts’ expectations of $170.43 million. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue was down 4.6% on a year-over-year basis. Sell-side analysts forecast that Avanos Medical, Inc. will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling at Avanos Medical

In other Avanos Medical news, CFO Michael Greiner sold 8,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $19.12, for a total value of $152,960.00. Following the sale, the chief financial officer now owns 151,495 shares of the company’s stock, valued at approximately $2,896,584.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Avanos Medical Profile

Avanos Medical, Inc, a medical technology company, offers medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.