Barclays PLC, a multinational investment bank and financial services company, has increased its holdings in Avanos Medical, Inc., according to the latest filing with the Securities & Exchange Commission. During the first quarter of this year, Barclays PLC raised its stake by 20.2%, acquiring an additional 6,037 shares of Avanos Medical’s stock. Following this transaction, Barclays PLC now owns 35,912 shares of the company’s stock. As of the most recent filing with the Securities & Exchange Commission in August 2023, this holding is valued at approximately $1,068,000.
Avanos Medical is a medical technology company that focuses on providing medical device solutions worldwide. Its operations span across North America, Europe, the Middle East, Africa, the Asia Pacific region, and Latin America. The company specializes in delivering a diverse portfolio of chronic care products catering to various healthcare needs.
One of Avanos Medical’s key areas of focus is digestive health products. These include enteral feeding tubes like Mic-Key enteral feeding tubes and patient feeding solutions such as Corpak. Additionally, Avanos Medical offers neonatal and pediatric feeding solutions under its NeoMed brand. These products play a critical role in supporting individuals with digestive health issues by ensuring effective and safe nutritional intake.
Respiratory health is another important aspect addressed by Avanos Medical. The company provides closed airway suction systems and other airway management devices through its Ballard, Microcuff, and Endoclear brands. Such solutions are designed to assist healthcare professionals in managing airway-related challenges efficiently.
Avanos Medical’s global reach allows it to cater to diverse markets around the world. By leveraging their extensive distribution network across regions spanning from North America to Latin America and beyond; they can ensure that their innovative medical device solutions reach those who need them most.
In conclusion, Barclays PLC has demonstrated confidence in Avanos Medical by increasing its holdings in the company. Avanos Medical’s focus on delivering medical device solutions in chronic care, particularly in the areas of digestive health and respiratory health, positions it as a key player in the healthcare industry. With a strong global presence and a comprehensive portfolio of products, Avanos Medical is well-equipped to contribute to the advancement of medical technology worldwide.
Avanos Medical, Inc.
Updated on: 05/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
DCF: Strong Buy
8:00 AM (UTC)
Date:05 December, 2023
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Hedge Funds Show Interest in Avanos Medical, Inc. as Institutional Ownership Rises
Avanos Medical, Inc. (NYSE:AVNS) has recently seen activity from several hedge funds in buying and selling shares of the company. Dimensional Fund Advisors LP, for instance, grew its position in Avanos Medical by 2.3% during the fourth quarter of the previous year. With an additional acquisition of 64,029 shares during that period, Dimensional Fund Advisors LP now owns a total of 2,891,836 shares valued at $78,254,000.
Similarly, New York State Common Retirement Fund also lifted its holdings in Avanos Medical by 2.5% during the fourth quarter. The entity now possesses 56,198 shares of the company’s stock worth $1,521,000 after acquiring an additional 1,353 shares during that period.
Heritage Wealth Management LLC experienced substantial growth in its holdings as well. During the fourth quarter, Heritage Wealth Management LLC increased its possessions by a staggering 121.8%, adding another 11,021 shares to their portfolio and valuing it at $543,000.
Furthermore, Keene & Associates Inc., a new player in this arena decided to take an interest in Avanos Medical during the first quarter of this year and purchased a stake worth $347,000.
LSV Asset Management also entered the scene by acquiring a new stake in Avanos Medical worth $1,086,000 during the first quarter.
Institutional investors now account for around 93.45% ownership of Avanos Medical’s stock.
Analysts have been closely following developments on AVNS as well. Recently StockNews.com downgraded Avanos Medical from a “buy” rating to “hold” in their report on August 16th. This change was followed by KeyCorp’s decision to downgrade Avanos Medical from an “overweight” rating to “sector weight” on July 25th. TheStreet also made a downgrade, from “b-” to “c”, in a report on May 3rd. Conversely, CL King initiated coverage on Avanos Medical with a “buy” rating and set a target price of $31.00 back on May 22nd. In summary, one analyst has rated the stock as a sell, two analysts have given it a hold rating, and one has suggested it as a buy option. Bloomberg reports that the consensus rating for Avanos Medical is “Hold” with an average target price of $31.00.
On Tuesday, shares of NYSE AVNS began trading at $21.86. The company’s financial health indicators include a debt-to-equity ratio of 0.16, current ratio of 3.16, and quick ratio of 2.23. With a market capitalization of $1.02 billion and a beta of 0.93, Avanos Medical boasts a P/E ratio of -28.03 and a price-to-earnings-growth ratio of 1.62.
Throughout the past year, Avanos Medical achieved both its lowest point at $19.32 and highest at $31.99.
The company recently disclosed its quarterly earnings data on August 9th, reporting earnings per share (EPS) of $0.24 for the quarter – falling short by ($0.10) compared to analysts’ consensus estimates of $0.34 EPS. While the company posted revenue amounting to $169 million during the same period, it was still lower than analysts’ expectations set at $186 million.
In terms of net margin and return on equity (ROE), Avanos Medical showed troubling figures with negative net margins amounting to -4.61% and ROE totaling only 5.andnet margin
For this fiscal year’s ongoing operations ,expectations point towards an EPS value of positive:1..