Aveanna Healthcare (NASDAQ:AVAH) Sets New 12-Month High - Here's Why

Key Points

• Aveanna Healthcare's shares reached a new 12-month high of $8.45, indicating strong market performance with an increase of 1.9% recently.
• Analyst ratings for Aveanna have varied, with some upgrades to "strong-buy" and "outperform," while others have lowered target prices; the consensus rating is currently "Moderate Buy."
• Institutional ownership is significant, with approximately 87.96% of the company's stock held by institutional investors, reflecting strong confidence in the company from large financial entities.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $8.45 and last traded at $8.37, with a volume of 315834 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AVAH shares. Wall Street Zen raised shares of Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Truist Financial cut their target price 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. UBS Group upgraded Aveanna Healthcare from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $6.75 to $8.00 in a research report on Tuesday, August 19th. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Finally, Raymond James Financial raised shares of Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 target price for the company in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Aveanna Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $7.50.

Aveanna Healthcare Stock Up 1.9%

The company's 50 day moving average price is $5.79 and its 200-day moving average price is $5.25. The stock has a market cap of $1.76 billion, a P/E ratio of 105.25 and a beta of 2.04.

Insiders Place Their Bets

In other news, insider Patrick A. Cunningham sold 18,500 shares of the business's 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 completion of the sale, the insider owned 327,869 shares in the company, valued at $1,616,394.17. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Partners L P bought a new position in Aveanna Healthcare during the second quarter worth about $50,477,000. First Eagle Investment Management LLC boosted its holdings in Aveanna Healthcare by 12.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 810,667 shares of the company's stock worth $4,240,000 after buying an additional 87,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Aveanna Healthcare by 103.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 664,890 shares of the company's stock worth $3,477,000 after buying an additional 338,746 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Aveanna Healthcare by 50.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 533,196 shares of the company's stock worth $2,437,000 after buying an additional 177,856 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Aveanna Healthcare by 207.0% in the second quarter. Squarepoint Ops LLC now owns 479,977 shares of the company's stock worth $2,510,000 after acquiring an additional 323,656 shares during the period. 87.96% of the stock is owned by institutional investors.

Aveanna Healthcare Company Profile

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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