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Aveanna Healthcare (NASDAQ:AVAH) Hits New 12-Month High - Should You Buy?

Aveanna Healthcare logo with Medical background

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.
  • Want stock alerts on Aveanna Healthcare? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) reached a new 52-week high 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVAH shares. Truist Financial reduced their price objective on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. Wall Street Zen upgraded Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and cut their target price for the company from $6.25 to $6.00 in a research note on Monday, July 21st. Barclays started coverage on Aveanna Healthcare in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $5.50 target price on the stock. Finally, UBS Group boosted their target price on Aveanna Healthcare from $4.50 to $5.00 and gave the company a "sell" rating in a research note on Friday, May 9th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.38.

Read Our Latest Research Report on AVAH

Aveanna Healthcare Price Performance

The business has a 50-day moving average of $4.61 and a 200-day moving average of $4.79. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 76.75 and a beta of 1.95.

Insider Activity

In related news, insider Patrick A. Cunningham sold 18,500 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $4.93, for a total transaction of $91,205.00. Following the sale, the insider owned 327,869 shares of the company's stock, valued at $1,616,394.17. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder J.H. Whitney Equity Partners V sold 1,560,700 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $5.36, for a total value of $8,365,352.00. Following the sale, the insider directly owned 29,640,756 shares in the company, valued at $158,874,452.16. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,024,284 shares of company stock valued at $37,306,260. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Aveanna Healthcare in the 4th quarter valued at $155,000. KLP Kapitalforvaltning AS purchased a new position in shares of Aveanna Healthcare during the 4th quarter valued at $35,000. JPMorgan Chase & Co. grew its position in shares of Aveanna Healthcare by 80.5% during the 4th quarter. JPMorgan Chase & Co. now owns 154,703 shares of the company's stock valued at $707,000 after purchasing an additional 68,989 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Aveanna Healthcare by 15.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 282,876 shares of the company's stock worth $1,293,000 after acquiring an additional 37,801 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Aveanna Healthcare by 42.1% during the fourth quarter. Wells Fargo & Company MN now owns 26,368 shares of the company's stock worth $121,000 after purchasing an additional 7,814 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Aveanna Healthcare Company Profile

(Get Free Report)

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.

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