Avanos Medical (NYSE:AVNS) Shares Down 6.3% – Here’s What Happened

Avanos Medical, Inc. (NYSE:AVNS)’s stock price dropped 6.3% during trading on Tuesday . The company traded as low as $15.53 and last traded at $15.52. Approximately 155,285 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 544,062 shares. The stock had previously closed at $16.57.

Analyst Ratings Changes

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

Avanos Medical Stock Performance

The firm has a market capitalization of $714.63 million, a P/E ratio of 45.73 and a beta of 0.98. The company’s 50 day moving average is $16.45 and its 200-day moving average is $20.05. The company has a quick ratio of 1.46, a current ratio of 2.22 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVNS. New York State Teachers Retirement System boosted its stake in Avanos Medical by 2.0% during the third quarter. New York State Teachers Retirement System now owns 72,294 shares of the company’s stock worth $1,737,000 after acquiring an additional 1,388 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Avanos Medical by 194.3% during the third quarter. Janney Montgomery Scott LLC now owns 35,918 shares of the company’s stock worth $863,000 after acquiring an additional 23,714 shares in the last quarter. Versor Investments LP bought a new position in Avanos Medical during the third quarter worth $368,000. KBC Group NV boosted its stake in Avanos Medical by 63.0% during the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in Avanos Medical by 13.6% during the third quarter. Natixis Advisors LLC now owns 21,452 shares of the company’s stock worth $515,000 after acquiring an additional 2,574 shares in the last quarter. 95.17% of the stock is owned by 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.