Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Paul Vigano Sells 7,000,000 Shares

Key Points

• Major shareholder Paul Vigano sold 7 million Aveanna Healthcare shares on June 3 at an average price of $6.24, totaling about $43.68 million. After the sale, his stake fell by 96.51% to 252,899 shares.
• Aveanna reported stronger-than-expected quarterly results, with EPS of $0.18 versus the $0.13 consensus and revenue of $647.92 million, up 15.9% year over year. The company also posted a net margin of 10.37% and return on equity of 124.68%.
• Wall Street remains generally constructive on AVAH, with a consensus rating of “Moderate Buy” and an average price target of $10.50. Recent analyst moves included upgrades from RBC and Stephens, though some firms trimmed their price targets.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) major shareholder Paul Vigano sold 7,000,000 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $6.24, for a total value of $43,680,000.00. Following the completion of the sale, the insider owned 252,899 shares of the company's stock, valued at $1,578,089.76. This represents a 96.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Trading Up 2.2%

NASDAQ AVAH traded up $0.15 on Friday, reaching $6.78. The company had a trading volume of 510,328 shares, compared to its average volume of 1,345,372. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.73 and a 52 week high of $10.32. The stock's 50 day moving average is $6.79 and its 200-day moving average is $7.73. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.76 and a beta of 1.93. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $647.92 million during 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 firm's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that Aveanna Healthcare Holdings Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

AVAH has been the subject of several recent research reports. Royal Bank Of Canada raised Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price target for the company in a research report on Wednesday. BMO Capital Markets cut their price objective on Aveanna Healthcare from $11.00 to $10.00 and set an "outperform" rating for the company in a research report on Friday, March 20th. Barclays cut their price objective on Aveanna Healthcare from $9.50 to $9.00 and set an "overweight" rating for the company in a research report on Monday, May 18th. Weiss Ratings cut Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Finally, Stephens raised Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $10.00 to $11.00 in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $10.50.

Institutional Investors Weigh In On Aveanna Healthcare

A number of large investors have recently modified their holdings of AVAH. AQR Capital Management LLC grew its position in shares of Aveanna Healthcare by 21.2% in the 1st quarter. AQR Capital Management LLC now owns 26,280 shares of the company's stock valued at $142,000 after buying an additional 4,602 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Aveanna Healthcare by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company's stock valued at $1,842,000 after buying an additional 25,974 shares during the last quarter. Jane Street Group LLC grew its position in shares of Aveanna Healthcare by 522.0% in the 1st quarter. Jane Street Group LLC now owns 75,081 shares of the company's stock valued at $407,000 after buying an additional 63,010 shares during the last quarter. Creative Planning grew its position in shares of Aveanna Healthcare by 15.1% in the 2nd quarter. Creative Planning now owns 47,025 shares of the company's stock valued at $246,000 after buying an additional 6,171 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Aveanna Healthcare by 65.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 158,265 shares of the company's stock valued at $828,000 after buying an additional 62,348 shares during the last quarter. 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.

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