Avanos Medical (NYSE:AVNS) Sees Large Volume Increase – Still a Buy?

Shares of Avanos Medical, Inc. (NYSE:AVNS) saw strong trading volume on Friday . 706,848 shares changed hands during mid-day trading, an increase of 16% from the previous session’s volume of 609,186 shares.The stock last traded at $15.34 and had previously closed at $15.40.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Avanos Medical from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd.

Avanos Medical Price Performance

The business’s 50 day moving average is $17.91 and its two-hundred day moving average is $20.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 2.22. The firm has a market capitalization of $700.84 million, a PE ratio of 44.85 and a beta of 0.99.

Hedge Funds Weigh In On Avanos Medical

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Avanos Medical by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,054,162 shares of the company’s stock worth $25,337,000 after purchasing an additional 16,065 shares in the last quarter. Foundry Partners LLC raised its position in shares of Avanos Medical by 1.1% in the third quarter. Foundry Partners LLC now owns 163,030 shares of the company’s stock worth $3,918,000 after buying an additional 1,800 shares in the last quarter. AQR Capital Management LLC boosted its stake in Avanos Medical by 21.0% during the second quarter. AQR Capital Management LLC now owns 146,983 shares of the company’s stock valued at $2,875,000 after buying an additional 25,467 shares during the period. FMR LLC grew its position in Avanos Medical by 34.6% during the third quarter. FMR LLC now owns 133,844 shares of the company’s stock worth $3,216,000 after buying an additional 34,421 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Avanos Medical by 12.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 108,470 shares of the company’s stock worth $2,607,000 after acquiring an additional 11,613 shares during the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

Avanos Medical Company 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.