Aveanna Healthcare (NASDAQ:AVAH) Stock Price Down 7.6% – Time to Sell?

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) fell 7.6% during mid-day trading on Monday . The company traded as low as $6.67 and last traded at $6.6270. 1,037,217 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 1,312,240 shares. The stock had previously closed at $7.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVAH. Truist Financial increased their price objective on Aveanna Healthcare from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 20th. BMO Capital Markets decreased their price objective on Aveanna Healthcare from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Royal Bank Of Canada increased their price objective on Aveanna Healthcare from $9.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Raymond James Financial upgraded Aveanna Healthcare from an “outperform” rating to a “strong-buy” rating and set a $13.00 target price for the company in a research report on Friday, March 20th. Finally, Barclays cut their target price on Aveanna Healthcare from $9.50 to $9.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.50.

Aveanna Healthcare Price Performance

The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 5.63, a P/E/G ratio of 0.85 and a beta of 1.93. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. The business has a 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $7.78.

Aveanna Healthcare (NASDAQ:AVAH) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The company had revenue of $647.92 million during the quarter, compared to the consensus estimate of $613.22 million. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Aveanna Healthcare Holdings Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at Aveanna Healthcare

In other news, insider Patrick A. Cunningham sold 125,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $7.59, for a total transaction of $948,750.00. Following the completion of the sale, the insider directly owned 212,755 shares of the company’s stock, valued at $1,614,810.45. This represents a 37.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aveanna Healthcare

Several hedge funds have recently modified their holdings of AVAH. AustralianSuper Pty Ltd acquired a new position in shares of Aveanna Healthcare in the third quarter worth $15,743,000. Vanguard Group Inc. increased 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 acquiring an additional 1,535,351 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Aveanna Healthcare in the third quarter worth $7,922,000. Algert Global LLC increased its stake in shares of Aveanna Healthcare by 120.1% in the third quarter. Algert Global LLC now owns 1,022,599 shares of the company’s stock worth $9,070,000 after acquiring an additional 557,898 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Aveanna Healthcare by 226.0% in the third quarter. Federated Hermes Inc. now owns 393,155 shares of the company’s stock worth $3,487,000 after acquiring an additional 272,561 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

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.