T. Rowe Price holds 11.5% of Avanos (NASDAQ: AVNS) in amended 13G

Rhea-AI Filing Summary

Avanos Medical Inc. ownership update: T. Rowe Price Investment Management reports beneficial ownership of 5,330,776 shares of Common Stock, representing 11.5% of the class as of 03/31/2026. The filing amends prior disclosures and notes that T. Rowe Price Small-Cap Value Fund holds 2,839,254 shares (6.1%).

Key Figures

Beneficially owned shares: 5,330,776 shares Percent of class: 11.5% Sole voting power: 5,292,097 shares +2 more

5 metrics

Beneficially owned shares 5,330,776 shares Amount beneficially owned as reported

Percent of class 11.5% Percent of outstanding common stock as reported

Sole voting power 5,292,097 shares Sole power to vote or direct vote

Sole dispositive power 5,330,776 shares Sole power to dispose or direct disposition

Small‑Cap Value Fund interest 2,839,254 shares T. Rowe Price Small‑Cap Value Fund holdings (6.1%)

Key Terms

Schedule 13G/A, beneficially owned, sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 4 ) AVANOS MEDICAL INC COMMON STOCK"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 5330776"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power legal

"7 | Sole Dispositive Power 5,330,776.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/07/2026 - 10:32 AM Learn about SEC filing dates

FAQ

What does the Schedule 13G/A filed for AVNS show?

The filing reports that T. Rowe Price Investment Management beneficially owns 5,330,776 shares, equal to 11.5% of Avanos common stock as of 03/31/2026. It is an amendment updating prior ownership disclosures.

How much of AVNS does T. Rowe Price Small‑Cap Value Fund own?

T. Rowe Price Small‑Cap Value Fund holds 2,839,254 shares, equal to 6.1% of the class. The fund’s position is identified within the Schedule 13G/A as part of the adviser’s client holdings.

Does the filing say T. Rowe Price is the beneficial owner of AVNS shares?

The filing expressly states that T. Rowe Price Investment Management does not admit beneficial ownership; clients retain ultimate receipt rights for dividends and sale proceeds. The adviser exercises discretionary authority for client accounts.

Who signed the AVNS Schedule 13G/A amendment and when?

The amendment is signed by Ellen York, Vice President of T. Rowe Price Investment Management, with a signature date of 05/07/2026, certifying the amended ownership information included in the filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

AVANOS MEDICAL INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

05350V106

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 05350V106

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,292,097.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,330,776.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,330,776.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AVANOS MEDICAL INC
(b)	Address of issuer's principal executive offices: 5405 WINDWARD PARKWAY, SUITE 100 SOUTH, ALPHARETTA, GA, 30004
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 05350V106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5330776
(b)	Percent of class: 11.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5292097
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5330776
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Ownership of More than Five Percent on Behalf of Another Person (1) Price Investment Management does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the individual and institutional clients which Price Investment Management serves as investment adviser. Any and all discretionary authority which has been delegated to Price Investment Management may be revoked in whole or in part at any time. Except as may be indicated if this is a joint filing with one of the registered investment companies sponsored by Price Investment Management which it also serves as investment adviser ("T. Rowe Price Funds"), not more than 5% of the class of such securities is owned by any one client subject to the investment advice of Price Investment Management. (2) [T. ROWE PRICE SMALL-CAP VALUE FUND ]: T. ROWE PRICE SMALL-CAP VALUE FUND, of which T. Rowe Price Investment Management, Inc. is the investment adviser, holds the securities reported herein in their investment portfolio managed by T. Rowe Price Investment Management, Inc. and such funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities that they hold. T. ROWE PRICE SMALL-CAP VALUE FUND has an interest in 2,839,254 of the class reported herein representing 6.1% of the class.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	05/07/2026