Parkman Healthcare Partners LLC Buys New Position in Aveanna Healthcare Holdings Inc. $AVAH

Key Points

• Parkman Healthcare Partners initiated a position of 714,451 Aveanna Healthcare shares worth approximately $6.1 million, while institutional investors collectively own 87.96% of the company.
• Analyst sentiment is broadly positive: Aveanna has a “Moderate Buy” consensus rating and an average price target of $12.89, with several firms recently raising their targets. The company also exceeded quarterly expectations, reporting $0.22 in EPS and $670.5 million in revenue.
• Insiders sold heavily, with reported sales totaling roughly 79.7 million shares worth $773.1 million over the past three months, potentially creating pressure on the stock despite its recent rise to $13.70.

Parkman Healthcare Partners LLC bought a new stake in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 714,451 shares of the company's stock, valued at approximately $6,123,000. Parkman Healthcare Partners LLC owned about 0.33% of Aveanna Healthcare at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Aveanna Healthcare during the 2nd quarter worth $63,504,000. Vanguard Group Inc. raised its stake in shares of Aveanna Healthcare by 38.0% in the fourth quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company's stock worth $45,564,000 after buying an additional 1,535,351 shares during the period. Millennium Management LLC raised its stake in shares of Aveanna Healthcare by 1,007.1% in the fourth quarter. Millennium Management LLC now owns 1,114,717 shares of the company's stock worth $9,107,000 after buying an additional 1,014,030 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Aveanna Healthcare during the 2nd quarter valued at about $7,881,000. Finally, Nuveen LLC lifted its position in shares of Aveanna Healthcare by 135.9% during the 4th quarter. Nuveen LLC now owns 1,571,308 shares of the company's stock valued at $12,838,000 after buying an additional 905,316 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stephens raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $10.00 to $11.00 in a report on Friday, May 15th. 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. BMO Capital Markets lifted their target price on shares of Aveanna Healthcare from $10.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Barclays upped their price objective on Aveanna Healthcare from $9.00 to $9.50 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Aveanna Healthcare in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Aveanna Healthcare currently has an average rating of "Moderate Buy" and an average price target of $12.89.

Insiders Place Their Bets

In related news, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $11.50, for a total value of $143,704,885.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Robert M. Williams, Jr. sold 14,500,002 shares of Aveanna Healthcare stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $11.50, for a total value of $166,750,023.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,746,745 shares of company stock valued at $773,117,091 in the last three months. Corporate insiders own 5.30% of the company's stock.

Key Aveanna Healthcare News

Here are the key news stories impacting Aveanna Healthcare this week:

• Positive Sentiment: Royal Bank of Canada raised its price target from $10 to $16 and upgraded its rating to “outperform,” implying additional upside from the stock’s recent trading level. Benzinga analyst coverage
• Positive Sentiment: Truist Financial lifted its price target from $11 to $15 while maintaining a “hold” rating. The higher target reflects improved valuation expectations, even though Truist remains cautious on the shares. Benzinga analyst coverage
• Negative Sentiment: Insiders and major shareholders disclosed approximately 48.6 million shares of sales at an average price of $11.50, worth roughly $558.5 million. Sellers included Paul R. Vigano, Robert M. Williams Jr., and J.H. Whitney Equity Partners V, as well as CEO Jeff Shaner, director Rodney D. Windley, and insider Edwin C. Reisz. Although the sellers retained sizable positions, the volume of stock coming to market may pressure AVAH and raise questions about shareholder confidence. SEC insider transaction filing

Aveanna Healthcare Stock Up 4.1%

NASDAQ AVAH opened at $13.70 on Tuesday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $2.99 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.92 and a beta of 1.90. Aveanna Healthcare Holdings Inc. has a one year low of $5.93 and a one year high of $13.98. The stock has a 50 day moving average price of $9.71 and a 200-day moving average price of $7.95.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $670.48 million for the quarter, compared to analysts' expectations of $638.61 million. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. As a group, equities analysts predict that Aveanna Healthcare Holdings Inc. will post 0.68 EPS for the current fiscal year.

Aveanna Healthcare Company 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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