Key Points
- J.H. Whitney Equity Partners V sold 5,842,240 shares of Aveanna Healthcare at an average price of $6.24, a transaction worth about $36.5 million, reducing its stake by 30.28%.
- Aveanna Healthcare reported strong quarterly results, posting EPS of $0.18 versus estimates of $0.13 and revenue of $647.92 million versus expectations of $613.22 million.
- Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average target price of $10.50, even as some firms trimmed their price targets.
Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) major shareholder J.H. Whitney Equity Partners V sold 5,842,240 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $6.24, for a total value of $36,455,577.60. Following the sale, the insider directly owned 13,450,547 shares in the company, valued at $83,931,413.28. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Aveanna Healthcare Trading Up 0.8%
Shares of NASDAQ:AVAH opened at $6.68 on Friday. The company has a market capitalization of $1.45 billion, a P/E ratio of 5.66, a P/E/G ratio of 0.74 and a beta of 1.93. Aveanna Healthcare Holdings Inc. has a 1 year low of $3.73 and a 1 year high of $10.32. The company has a debt-to-equity ratio of 5.35, a current ratio of 1.47 and a quick ratio of 1.47. The business's 50 day simple moving average is $6.79 and its 200 day simple moving average is $7.72.
Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The firm had revenue of $647.92 million for the quarter, compared to the consensus estimate of $613.22 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The company's quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.6 EPS for the current fiscal year.
Institutional Investors Weigh In On Aveanna Healthcare
Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Aveanna Healthcare by 252.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock valued at $27,000 after acquiring an additional 2,400 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Aveanna Healthcare during the 1st quarter valued at $53,000. Quantbot Technologies LP acquired a new stake in shares of Aveanna Healthcare during the 2nd quarter valued at $43,000. Lion Street Advisors LLC acquired a new stake in shares of Aveanna Healthcare during the 3rd quarter valued at $89,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Aveanna Healthcare by 88,100.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 11,466 shares of the company's stock valued at $102,000 after acquiring an additional 11,453 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.
Analyst Upgrades and Downgrades
AVAH has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on Aveanna Healthcare from $11.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, March 20th. Barclays reduced their target price on Aveanna Healthcare from $9.50 to $9.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. Raymond James Financial raised Aveanna Healthcare from an "outperform" rating to a "strong-buy" rating and set a $13.00 target price on the stock in a report on Friday, March 20th. Weiss Ratings downgraded Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 6th. Finally, Truist Financial raised their target price on Aveanna Healthcare from $8.00 to $9.00 and gave the company a "hold" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Aveanna Healthcare has an average rating of "Moderate Buy" and an average target price of $10.50.
View Our Latest Stock Analysis on AVAH
About Aveanna Healthcare
(
Get Free Report)
Aveanna Healthcare, Inc (NASDAQ: AVAH) is a national provider of in-home health care services, specializing in pediatric skilled nursing, therapy, and related support for medically complex and chronically ill children. The company delivers a range of clinical and therapeutic solutions designed to enable patients to receive care in the comfort of their own homes, reducing the need for hospital stays and long-term institutional care. Aveanna's offerings include registered nursing, physical, occupational and speech therapy, behavioral health counseling, and durable medical equipment coordination.
In addition to pediatric home health services, Aveanna operates adult home health and personal care support programs, assisting elderly and disabled adults with daily living activities, medication management, and rehabilitation therapies.
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