Aveanna Healthcare (NASDAQ:AVAH) Trading 5.5% Higher – What’s Next?

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) traded up 5.5% during mid-day trading on Friday . The company traded as high as $9.53 and last traded at $9.5790. Approximately 199,895 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,552,224 shares. The stock had previously closed at $9.08.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stephens upgraded Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $11.00 in a research note on Friday, May 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Aveanna Healthcare in a research note on Thursday, July 2nd. Royal Bank Of Canada raised Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Wednesday, June 3rd. Barclays upped their target price on Aveanna Healthcare from $9.00 to $9.50 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Truist Financial increased their price target on shares of Aveanna Healthcare from $9.00 to $11.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. One equities research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.78.

Aveanna Healthcare Stock Up 6.5%

The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 0.94 and a beta of 1.89. The business’s 50-day moving average is $8.16 and its 200-day moving average is $7.66.

Aveanna Healthcare (NASDAQ:AVAH) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $647.91 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%.Aveanna Healthcare’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Paul R. Vigano sold 3,000,000 shares of Aveanna Healthcare stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total transaction of $24,030,000.00. Following the completion of the transaction, the insider directly owned 190,130 shares in the company, valued at approximately $1,522,941.30. This trade represents a 94.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder J.H. Whitney Equity Partners V sold 2,419,035 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total value of $19,376,470.35. Following the completion of the transaction, the insider directly owned 10,112,123 shares of the company’s stock, valued at $80,998,105.23. The trade was a 19.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,305,664 shares of company stock worth $215,555,910 over the last ninety days. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aveanna Healthcare

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Aveanna Healthcare by 38.0% during the fourth quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company’s stock worth $45,564,000 after purchasing an additional 1,535,351 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Aveanna Healthcare by 16.4% in the first quarter. Assenagon Asset Management S.A. now owns 951,594 shares of the company’s stock valued at $6,128,000 after purchasing an additional 134,043 shares during the period. UBS Group AG increased its position in shares of Aveanna Healthcare by 149.4% in the fourth quarter. UBS Group AG now owns 394,182 shares of the company’s stock valued at $3,220,000 after buying an additional 236,152 shares in the last quarter. Precision Wealth Strategies LLC purchased a new stake in shares of Aveanna Healthcare in the fourth quarter valued at approximately $1,075,000. Finally, F m Investments LLC acquired a new position in shares of Aveanna Healthcare during the 4th quarter worth approximately $901,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Aveanna Healthcare Company Profile

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.