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

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

Analyst Upgrades and Downgrades

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

Avanos Medical Stock Down 0.5 %

The business has a 50 day moving average of $16.27 and a 200-day moving average of $19.92. The stock has a market cap of $713.48 million, a PE ratio of 45.66 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12.

Institutional Trading of Avanos Medical

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Avanos Medical during the 3rd quarter worth approximately $42,000. KBC Group NV lifted its position in Avanos Medical by 63.0% during the 3rd quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after acquiring an additional 1,095 shares during the period. Quantbot Technologies LP acquired a new stake in Avanos Medical during the 4th quarter worth approximately $64,000. State of Wyoming lifted its position in Avanos Medical by 132.0% during the 4th quarter. State of Wyoming now owns 5,137 shares of the company’s stock worth $82,000 after acquiring an additional 2,923 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Avanos Medical by 493.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the company’s stock worth $129,000 after acquiring an additional 6,714 shares during the period. 95.17% of the stock is owned by institutional investors and hedge funds.

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.