Aveanna Healthcare (NASDAQ:AVAH) Price Target Raised to $15.00 at Truist Financial

Key Points

• Truist Financial raised Aveanna Healthcare’s price target from $11 to $15 while maintaining a “hold” rating, implying roughly 9.5% upside from the reported $13.70 share price. The analyst consensus is “Moderate Buy,” with an average target of $12.89.
• Aveanna reported quarterly EPS of $0.22, beating estimates of $0.17, while revenue of $670.48 million exceeded expectations of $638.61 million.
• Insider selling has been substantial: insiders sold 31.18 million shares worth approximately $214.6 million over the past 90 days, while institutional investors and hedge funds own 87.96% of the stock.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its price target lifted by investment analysts at Truist Financial from $11.00 to $15.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price objective would suggest a potential upside of 9.53% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. UBS Group upped their price objective on shares of Aveanna Healthcare from $8.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Wall Street Zen downgraded shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Raymond James Financial increased their price target on Aveanna Healthcare from $13.00 to $15.00 and gave the company a "strong-buy" rating in a research note on Friday, August 14th. 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 report on Friday, May 15th. Finally, Barclays boosted their price objective on Aveanna Healthcare from $9.00 to $9.50 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.89.

Aveanna Healthcare Price Performance

NASDAQ AVAH traded up $0.54 on Monday, hitting $13.70. 2,240,278 shares of the company's stock were exchanged, compared to its average volume of 1,784,007. The stock has a 50-day moving average of $9.58 and a 200-day moving average of $7.92. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 0.92 and a beta of 1.90. Aveanna Healthcare has a 52 week low of $5.93 and a 52 week high of $13.98. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.47.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The company had revenue of $670.48 million during the quarter, compared to analysts' expectations of $638.61 million. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%. Analysts expect that Aveanna Healthcare will post 0.68 earnings per share for the current year.

Insider Activity at Aveanna Healthcare

In other news, 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 transaction, the insider owned 10,112,123 shares in the company, valued at approximately $80,998,105.23. The trade was a 19.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Robert M. Williams, Jr. sold 3,000,000 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total transaction of $24,030,000.00. Following the completion of the sale, the insider directly owned 190,130 shares in the company, valued at approximately $1,522,941.30. This represents a 94.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,180,664 shares of company stock worth $214,607,160 over the last ninety days. Insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On Aveanna Healthcare

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Aveanna Healthcare by 252.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock valued at $27,000 after purchasing an additional 2,400 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Aveanna Healthcare in the 2nd quarter worth approximately $43,000. Summit Securities Group LLC purchased a new position in shares of Aveanna Healthcare in the 1st quarter worth approximately $53,000. Oxford Asset Management LLP bought a new position in shares of Aveanna Healthcare in the second quarter valued at approximately $64,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Aveanna Healthcare during the second quarter valued at approximately $69,000. 87.96% of the stock is owned by institutional investors and hedge funds.

About Aveanna Healthcare

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source