87,800 Shares in Aveanna Healthcare Holdings Inc. $AVAH Purchased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 87,800 Aveanna Healthcare shares in the second quarter, valued at approximately $752,000. Institutional investors and hedge funds collectively own 87.96% of the company.
• Aveanna reported quarterly EPS of $0.22, beating estimates of $0.17, while revenue of $670.48 million exceeded expectations of $638.61 million.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $13.50 price target, though insiders sold nearly 59.9 million shares worth about $649.3 million in the last quarter.

Canada Pension Plan Investment Board bought a new stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 87,800 shares of the company's stock, valued at approximately $752,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Aveanna Healthcare by 252.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock worth $27,000 after acquiring an additional 2,400 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in Aveanna Healthcare in the 2nd quarter valued at approximately $69,000. Summit Securities Group LLC acquired a new position in Aveanna Healthcare during the first quarter worth $53,000. Quantbot Technologies LP purchased a new stake in Aveanna Healthcare during the second quarter worth $43,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Aveanna Healthcare during the second quarter worth $102,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Aveanna Healthcare Trading Up 0.3%

NASDAQ AVAH opened at $13.46 on Wednesday. The company has a market cap of $2.94 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.84 and a beta of 1.97. Aveanna Healthcare Holdings Inc. has a 12 month low of $5.93 and a 12 month high of $14.00. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50-day moving average of $10.40 and a 200-day moving average of $8.19.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. The business had revenue of $670.48 million for the quarter, compared to analysts' expectations of $638.61 million. As a group, equities analysts predict that Aveanna Healthcare Holdings Inc. will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Aveanna Healthcare

In related news, major shareholder Robert M. Williams, Jr. sold 14,500,002 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total value of $166,750,023.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of Aveanna Healthcare stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $11.50, for a total value of $143,704,885.50. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,904,505 shares of company stock worth $649,301,514 in the last quarter. 5.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their price target on Aveanna Healthcare from $10.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Wall Street Zen lowered shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Barclays increased their price objective on shares of Aveanna Healthcare from $9.50 to $15.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. UBS Group lifted their target price 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. Finally, Royal Bank Of Canada upped their price target on shares of Aveanna Healthcare from $10.00 to $16.00 and gave the company an "outperform" rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.50.

Aveanna Healthcare 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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