Aveanna Healthcare (NASDAQ:AVAH) Reaches New 12-Month High - What's Next?

Key Points

• Aveanna Healthcare shares reached a new 52-week high, trading as high as $14.05 and closing around $14.02, up 2.6% on the day.
• Analysts generally remain bullish, with a consensus rating of “Moderate Buy” and an average price target of $13.50; several firms recently raised targets to $15.00.
• The company exceeded quarterly expectations, reporting $0.22 in EPS versus $0.17 expected and revenue of $670.48 million versus a $638.61 million consensus estimate. However, insiders sold nearly 59.9 million shares worth approximately $649.3 million over the past 90 days.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.05 and last traded at $14.02, with a volume of 3133106 shares. The stock had previously closed at $13.66.

Analyst Upgrades and Downgrades

AVAH has been the subject of several research reports. Stephens upgraded shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $10.00 to $11.00 in a research report on Friday, May 15th. Wall Street Zen lowered Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. BMO Capital Markets lifted their target price on Aveanna Healthcare from $10.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Raymond James Financial boosted their price target on Aveanna Healthcare from $13.00 to $15.00 and gave the company a "strong-buy" rating in a research note on Friday, August 14th. Finally, Barclays raised their target price on shares of Aveanna Healthcare from $9.50 to $15.00 and gave the company an "overweight" rating in a report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.50.

Aveanna Healthcare Trading Up 2.6%

The firm's 50 day moving average is $10.89 and its two-hundred day moving average is $8.40. The company has a market cap of $3.06 billion, a P/E ratio of 11.40, a PEG ratio of 0.85 and a beta of 1.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.47.

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

Insider Activity

In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of Aveanna Healthcare stock in a transaction that occurred on Thursday, August 20th. The stock was 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 through this hyperlink. Also, major shareholder Paul R. Vigano sold 14,500,002 shares of the business's stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Insiders have sold 59,904,505 shares of company stock valued at $649,301,514 in the last ninety days. 5.30% of the stock is owned by company insiders.

Institutional Trading of Aveanna Healthcare

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in Aveanna Healthcare by 21.2% during the first quarter. AQR Capital Management LLC now owns 26,280 shares of the company's stock worth $142,000 after acquiring an additional 4,602 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Aveanna Healthcare by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company's stock worth $1,842,000 after purchasing an additional 25,974 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Aveanna Healthcare by 522.0% in the 1st quarter. Jane Street Group LLC now owns 75,081 shares of the company's stock valued at $407,000 after buying an additional 63,010 shares during the period. Creative Planning increased its position in Aveanna Healthcare by 15.1% in the 2nd quarter. Creative Planning now owns 47,025 shares of the company's stock valued at $246,000 after buying an additional 6,171 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Aveanna Healthcare by 65.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 158,265 shares of the company's stock worth $828,000 after buying an additional 62,348 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

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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