Short Interest in Avanos Medical, Inc. (NYSE:AVNS) Drops By 6.4%

Avanos Medical, Inc. (NYSE:AVNS) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 681,400 shares, a decrease of 6.4% from the December 15th total of 727,700 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 349,300 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Avanos Medical by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,571 shares of the company’s stock valued at $1,672,000 after acquiring an additional 4,472 shares during the period. Geode Capital Management LLC lifted its position in shares of Avanos Medical by 1.5% during the third 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 during the last quarter. Barclays PLC boosted its stake in shares of Avanos Medical by 446.2% during the third quarter. Barclays PLC now owns 96,194 shares of the company’s stock valued at $2,311,000 after purchasing an additional 78,583 shares during the period. Zacks Investment Management bought a new position in shares of Avanos Medical in the third quarter worth about $335,000. Finally, EP Wealth Advisors LLC purchased a new position in Avanos Medical in the 3rd quarter worth about $212,000. Institutional investors own 95.17% of the company’s stock.

Avanos Medical Trading Down 0.7 %

Shares of AVNS stock traded down $0.11 during trading hours on Monday, reaching $15.94. 290,991 shares of the stock were exchanged, compared to its average volume of 429,124. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $732.60 million, a price-to-earnings ratio of 46.88 and a beta of 0.99. Avanos Medical has a 12-month low of $14.98 and a 12-month high of $25.36. The company’s 50-day moving average price is $17.42 and its 200-day moving average price is $20.80.

About Avanos Medical

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.