Aveanna Healthcare (NASDAQ:AVAH) Price Target Lowered to $5.00 at Truist Financial

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price reduced by stock analysts at Truist Financial from $6.00 to $5.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price target points to a potential upside of 26.26% from the company's previous close.

Several other brokerages have also recently issued reports on AVAH. UBS Group boosted their price objective on shares of Aveanna Healthcare from $4.50 to $5.00 and gave the company a "sell" rating in a research note on Friday, May 9th. Wall Street Zen cut shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Finally, Barclays initiated coverage on shares of Aveanna Healthcare in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $5.50 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.10.

Aveanna Healthcare Price Performance

Shares of NASDAQ:AVAH traded down $0.06 during trading on Wednesday, hitting $3.96. 271,136 shares of the company were exchanged, compared to its average volume of 352,033. The stock has a market capitalization of $772.56 million, a P/E ratio of 44.00 and a beta of 1.98. Aveanna Healthcare has a 12-month low of $2.61 and a 12-month high of $6.19. The firm's 50 day moving average price is $5.02 and its 200-day moving average price is $4.84.

Insiders Place Their Bets

In other Aveanna Healthcare news, insider Patrick A. Cunningham sold 18,500 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $4.93, for a total value of $91,205.00. Following the transaction, the insider directly owned 327,869 shares in the company, valued at approximately $1,616,394.17. This represents a 5.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the completion of the transaction, the insider owned 28,890,756 shares in the company, valued at approximately $150,231,931.20. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,115,345 shares of company stock worth $37,838,057. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AVAH. Summit Partners L P acquired a new stake in Aveanna Healthcare during the 2nd quarter worth approximately $50,477,000. Nuveen LLC acquired a new stake in Aveanna Healthcare during the 1st quarter worth approximately $1,692,000. Millennium Management LLC increased its position in Aveanna Healthcare by 105.0% during the 4th quarter. Millennium Management LLC now owns 400,374 shares of the company's stock worth $1,830,000 after purchasing an additional 205,023 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Aveanna Healthcare by 50.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 533,196 shares of the company's stock worth $2,437,000 after purchasing an additional 177,856 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Aveanna Healthcare by 145.9% during the 1st quarter. Mackenzie Financial Corp now owns 263,662 shares of the company's stock worth $1,429,000 after purchasing an additional 156,439 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

About Aveanna Healthcare

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.