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 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. Currently, 1.5% of the company’s shares are short sold. Based on an average trading volume of 349,300 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analyst Weigh In

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

Avanos Medical Stock Down 0.7 %

AVNS traded down $0.11 on Friday, reaching $15.94. 290,991 shares of the company traded hands, compared to its average volume of 429,124. Avanos Medical has a 52-week low of $14.98 and a 52-week high of $25.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.22 and a quick ratio of 1.46. The company has a market cap of $732.60 million, a price-to-earnings ratio of 46.88 and a beta of 0.99. The stock’s 50 day moving average price is $17.42 and its 200-day moving average price is $20.79.

Institutional Trading of Avanos Medical

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in Avanos Medical in the third quarter valued at approximately $42,000. KBC Group NV boosted its holdings in Avanos Medical by 63.0% in the third quarter. KBC Group NV now owns 2,833 shares of the company’s stock worth $68,000 after purchasing an additional 1,095 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Avanos Medical during the second quarter valued at about $70,000. XTX Topco Ltd acquired a new position in shares of Avanos Medical during the 2nd quarter valued at about $202,000. Finally, Intech Investment Management LLC bought a new position in shares of Avanos Medical in the 3rd quarter valued at approximately $207,000. 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.