Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Sells $36,455,577.60 in Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder J.H. Whitney Equity Partners V sold 5,842,240 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $6.24, for a total transaction of $36,455,577.60. Following the sale, the insider directly owned 13,450,547 shares in the company, valued at $83,931,413.28. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Stock Up 2.2%

NASDAQ:AVAH traded up $0.15 on Friday, hitting $6.78. 510,328 shares of the company’s stock were exchanged, compared to its average volume of 1,345,372. The firm has a 50-day moving average price of $6.79 and a 200-day moving average price of $7.73. The company has a debt-to-equity ratio of 5.35, a current ratio of 1.47 and a quick ratio of 1.47. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.73 and a 52 week high of $10.32. The company has a market cap of $1.48 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.93.

Aveanna Healthcare (NASDAQ:AVAH) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The firm had revenue of $647.92 million for the quarter, compared to analysts’ expectations of $613.22 million. Aveanna Healthcare’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts expect that Aveanna Healthcare Holdings Inc. will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVAH. AustralianSuper Pty Ltd bought a new position in Aveanna Healthcare in the 3rd quarter valued at about $15,743,000. Vanguard Group Inc. raised its holdings in Aveanna Healthcare by 38.0% in the 4th quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company’s stock valued at $45,564,000 after acquiring an additional 1,535,351 shares during the period. Millennium Management LLC grew its position in shares of Aveanna Healthcare by 1,007.1% during the 4th quarter. Millennium Management LLC now owns 1,114,717 shares of the company’s stock worth $9,107,000 after purchasing an additional 1,014,030 shares in the last quarter. Nuveen LLC grew 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 worth $12,838,000 after purchasing an additional 905,316 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Aveanna Healthcare during the 3rd quarter worth approximately $7,922,000. 87.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVAH. Stephens raised shares of Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $11.00 in a research report on Friday, May 15th. Raymond James Financial raised shares of Aveanna Healthcare from an “outperform” rating to a “strong-buy” rating and set a $13.00 price target on the stock in a research report on Friday, March 20th. Royal Bank Of Canada raised shares of Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Wednesday. Truist Financial boosted their price target on shares of Aveanna Healthcare from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 20th. Finally, Barclays dropped their target price on shares of Aveanna Healthcare from $9.50 to $9.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

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.