Bank of America Corp DE Makes New Investment in Aveanna Healthcare Holdings Inc. $AVAH

Key Points

• Bank of America acquired 714,579 Aveanna Healthcare shares in the second quarter, valued at approximately $6.1 million and representing about 0.33% of the company. Institutional investors collectively own 87.96% of AVAH.
• Aveanna reported quarterly EPS of $0.22, beating estimates of $0.17, while revenue of $670.48 million exceeded the $638.61 million consensus forecast.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $14.06, although insiders have sold nearly 57 million shares worth approximately $626 million over the past 90 days.

Bank of America Corp DE bought a new position in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 714,579 shares of the company's stock, valued at approximately $6,124,000. Bank of America Corp DE owned approximately 0.33% of Aveanna Healthcare at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AVAH. Caitong International Asset Management Co. Ltd raised its holdings in shares of Aveanna Healthcare by 252.4% in 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 during the last quarter. Diversified Trust Co lifted its stake in Aveanna Healthcare by 14.9% in the first quarter. Diversified Trust Co now owns 22,293 shares of the company's stock valued at $144,000 after purchasing an additional 2,893 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Aveanna Healthcare by 25.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 14,380 shares of the company's stock valued at $117,000 after buying an additional 2,914 shares during the last quarter. Precision Wealth Strategies LLC lifted its holdings in Aveanna Healthcare by 4.6% during the first quarter. Precision Wealth Strategies LLC now owns 137,706 shares of the company's stock valued at $887,000 after purchasing an additional 6,115 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Aveanna Healthcare by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 66,668 shares of the company's stock worth $419,000 after buying an additional 6,823 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Aveanna Healthcare Price Performance

Shares of NASDAQ AVAH opened at $12.41 on Monday. The company has a 50 day simple moving average of $11.96 and a two-hundred day simple moving average of $8.97. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 0.76 and a beta of 1.97. Aveanna Healthcare Holdings Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $14.71. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $670.48 million for the quarter, compared to the consensus estimate 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 Holdings Inc. will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on AVAH. JPMorgan Chase & Co. raised their target price on Aveanna Healthcare from $8.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, September 14th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. BMO Capital Markets increased their target price on shares of Aveanna Healthcare from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Raymond James Financial raised their price target on Aveanna Healthcare from $13.00 to $15.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 14th. Finally, Royal Bank Of Canada boosted their price objective on shares of Aveanna Healthcare from $10.00 to $16.00 and gave the company an "outperform" rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.06.

Insiders Place Their Bets

In other Aveanna Healthcare news, major shareholder Paul Vigano 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 transaction of $166,750,023.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Robert Williams, Jr. sold 14,500,002 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $11.50, for a total value of $166,750,023.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,985,116 shares of company stock valued at $625,946,402. Insiders own 5.30% of the company's stock.

Aveanna Healthcare Company Profile

Aveanna Healthcare Corporation is a provider of home-based healthcare services for children, adults and families in the United States. The company's services are designed to help patients receive medical and supportive care in their homes and communities, including individuals with complex, chronic or medically fragile conditions.

Aveanna's principal services include private-duty nursing, home health, hospice and personal care. It also provides pediatric therapy and related clinical services, including physical, occupational and speech therapy.

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