Connor Clark & Lunn Investment Management Ltd. Takes Position in Avanos Medical Inc (AVNS)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Avanos Medical Inc (NYSE:AVNS) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 5,400 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Retirement Systems of Alabama increased its stake in Avanos Medical by 0.5% during the 1st quarter. Retirement Systems of Alabama now owns 61,772 shares of the company’s stock valued at $2,636,000 after buying an additional 280 shares during the period. American International Group Inc. increased its stake in Avanos Medical by 0.3% during the 4th quarter. American International Group Inc. now owns 126,680 shares of the company’s stock valued at $5,674,000 after buying an additional 317 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Avanos Medical by 1.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,979 shares of the company’s stock valued at $810,000 after buying an additional 360 shares during the period. Mason Street Advisors LLC increased its stake in Avanos Medical by 1.6% during the 1st quarter. Mason Street Advisors LLC now owns 25,234 shares of the company’s stock valued at $1,077,000 after buying an additional 391 shares during the period. Finally, Arizona State Retirement System increased its stake in Avanos Medical by 1.4% during the 4th quarter. Arizona State Retirement System now owns 34,041 shares of the company’s stock valued at $1,525,000 after buying an additional 468 shares during the period. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on AVNS. Zacks Investment Research cut shares of Avanos Medical from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. ValuEngine cut shares of Avanos Medical from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Morgan Stanley set a $47.00 price objective on shares of Avanos Medical and gave the stock a “sell” rating in a research note on Wednesday, May 8th. Finally, KeyCorp lowered their price objective on shares of Avanos Medical from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 27th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.00.

Shares of AVNS opened at $39.27 on Wednesday. The company has a market capitalization of $1.81 billion, a PE ratio of 28.58 and a beta of 1.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.22 and a current ratio of 2.77. Avanos Medical Inc has a 12-month low of $37.07 and a 12-month high of $72.96.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The business had revenue of $164.20 million during the quarter, compared to analyst estimates of $163.72 million. Avanos Medical had a return on equity of 4.92% and a net margin of 2.58%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. As a group, research analysts forecast that Avanos Medical Inc will post 1.23 EPS for the current fiscal year.

In other Avanos Medical news, CEO Joseph Fralin Woody acquired 3,500 shares of the stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $39.95 per share, with a total value of $139,825.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.57% of the company’s stock.

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Avanos Medical Company Profile

Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.

Further Reading: Average Daily Trade Volume Explained

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

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