SCHEDULE: Avanos Medical: Armistice Capital Discloses 4.3% Stake

Armistice Capital, LLC and Steven Boyd have reported beneficial ownership of 4.3% of Avanos Medical, Inc. common stock as of March 31, 2026.

Summary

• Armistice Capital, LLC and Steven Boyd, collectively referred to as the Reporting Persons, have filed a Schedule 13G, indicating their beneficial ownership of Avanos Medical, Inc. common stock.
• As of March 31, 2026, the Reporting Persons collectively own 2,000,000 shares, representing 4.30% of the class of securities.
• Armistice Capital, LLC acts as the investment manager for the Master Fund, which is the direct holder of the shares. Armistice Capital exercises voting and investment power over these securities.
• Steven Boyd, as the managing member of Armistice Capital, may be deemed to beneficially own the securities held by the Master Fund.
• The Master Fund disclaims beneficial ownership of the securities due to its investment management agreement with Armistice Capital.
• The filing indicates that the Reporting Persons acquired these shares in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a standard disclosure of beneficial ownership without any immediate indication of positive or negative performance or strategic shifts.

Positives

• Armistice Capital and Steven Boyd have disclosed a significant stake (4.3%) in Avanos Medical, Inc., which can signal confidence or a strategic interest in the company.
• The filing confirms that the shares were acquired in the ordinary course of business, suggesting a standard investment strategy rather than a hostile takeover attempt.

Negatives

• The filing does not provide details on the acquisition cost or the specific strategy behind acquiring this stake, leaving room for speculation.
• The Master Fund disclaims beneficial ownership, which adds a layer of complexity to the reporting structure.

Risks

• Potential for increased scrutiny from management and other shareholders regarding Armistice Capital's intentions.
• If Armistice Capital's investment strategy involves seeking changes in management or corporate strategy, this could lead to proxy contests or activist campaigns.
• Market perception of this stake could lead to increased volatility in Avanos Medical's stock price.

Future Outlook

The filing does not contain forward-looking statements or guidance. It is a disclosure of beneficial ownership.

Management Comments

• Armistice Capital, LLC exercises voting and investment power over the securities of the Issuer held by the Master Fund and thus may be deemed to beneficially own the securities of the Issuer held by the Master Fund.
• Mr. Boyd, as the managing member of Armistice Capital, may be deemed to beneficially own the securities of the Issuer held by the Master Fund.
• The Master Fund specifically disclaims beneficial ownership of the securities of the Issuer directly held by it by virtue of its inability to vote or dispose of such securities as a result of its Investment Management Agreement with Armistice Capital.
• The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Industry Context

StockSavvy.ai notes that Schedule 13G filings typically indicate passive investment stakes. However, the size of this stake (4.3%) could be considered significant enough to warrant attention from Avanos Medical's management and other investors, potentially signaling a more active interest or a precursor to future engagement.

Stakeholder Impact

• Shareholders: May interpret this stake as a sign of potential activist interest or a vote of confidence, potentially influencing trading activity.
• Management: Will likely monitor Armistice Capital's future actions and communications closely.
• Creditors: Unlikely to be directly impacted by this ownership disclosure unless it leads to significant strategic changes affecting the company's financial stability.

Next Steps

• Monitor future filings from Armistice Capital and Steven Boyd for any changes in their beneficial ownership.
• Observe Avanos Medical's stock performance and any potential management or strategic responses to this disclosure.

Key Dates

Keywords

Avanos Medical, Schedule 13G, Armistice Capital, Steven Boyd, Beneficial Ownership, SEC Filing, Investment Management, Common Stock, Securities Exchange Act