Aveanna Healthcare (NASDAQ:AVAH) Sets New 12-Month High - Still a Buy?

Key Points

• Aveanna Healthcare (NASDAQ: AVAH) shares reached a new 52-week high of $6.20 during trading, closing at $5.81 with a notable trading volume of 14,380,879 shares.
• Analysts have given mixed ratings for the company, with a consensus rating of "Hold" and a target price averaging $5.25, while Jefferies upgraded it to "buy" with a price target of $6.00.
• Insider transactions revealed that major shareholders sold significant shares in May, indicating potential confidence concerns in the company’s stock positions.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.20 and last traded at $5.81, with a volume of 14380879 shares. The stock had previously closed at $3.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays initiated coverage on shares of Aveanna Healthcare in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $5.50 target price on the stock. UBS Group boosted their price target on shares of Aveanna Healthcare from $5.00 to $6.75 and gave the company a "sell" rating in a report on Tuesday. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and cut their price objective for the stock from $6.25 to $6.00 in a report on Monday, July 21st. Wall Street Zen raised Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Truist Financial dropped their price objective on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.45.

Aveanna Healthcare Price Performance

The stock has a fifty day moving average of $4.64 and a 200 day moving average of $4.81. The firm has a market capitalization of $1.48 billion, a P/E ratio of 88.96 and a beta of 1.95.

Insider Activity

In other Aveanna Healthcare news, major shareholder Paul R. Vigano sold 750,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the sale, the insider directly owned 28,890,756 shares in the company, valued at $150,231,931.20. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total value of $3,900,000.00. Following the sale, the insider owned 28,890,756 shares of the company's stock, valued at $150,231,931.20. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,977,245 shares of company stock valued at $37,037,197. 7.00% of the stock is owned by insiders.

Institutional Trading of Aveanna Healthcare

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in shares of Aveanna Healthcare by 105.0% during the 4th quarter. Millennium Management LLC now owns 400,374 shares of the company's stock worth $1,830,000 after acquiring an additional 205,023 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Aveanna Healthcare by 577.0% during the fourth quarter. Legal & General Group Plc now owns 36,409 shares of the company's stock worth $166,000 after purchasing an additional 31,031 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Aveanna Healthcare by 32.1% in the fourth quarter. Deutsche Bank AG now owns 34,564 shares of the company's stock worth $158,000 after acquiring an additional 8,396 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Aveanna Healthcare in the fourth quarter valued at about $223,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Aveanna Healthcare by 50.9% during the first quarter. Teacher Retirement System of Texas now owns 49,881 shares of the company's stock valued at $270,000 after purchasing an additional 16,835 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

About Aveanna Healthcare

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides pediatric and adult healthcare services in the United States. Its patient-centered care delivery platform allows patients to remain in their homes and minimizes the overutilization of high-cost care settings, such as hospitals or skilled nursing facilities.