Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Sells $24,030,000.00 in Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder Robert Williams, Jr. sold 3,000,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total value of $24,030,000.00. Following the completion of the sale, the insider directly owned 190,130 shares in the company, valued at $1,522,941.30. The trade was a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Stock Performance

NASDAQ:AVAH opened at $9.10 on Friday. The stock has a market cap of $1.98 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 0.94 and a beta of 1.89. The firm’s fifty day simple moving average is $7.36 and its 200 day simple moving average is $7.57. Aveanna Healthcare Holdings Inc. has a twelve month low of $3.73 and a twelve month high of $10.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35.

Aveanna Healthcare (NASDAQ:AVAH) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $647.91 million during the quarter, compared to analyst estimates of $613.22 million. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The firm’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 0.65 EPS for the current year.

Hedge Funds Weigh In On Aveanna Healthcare

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Aveanna Healthcare by 38.0% in the 4th 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 last quarter. Geode Capital Management LLC raised its stake in Aveanna Healthcare by 17.7% during the fourth quarter. Geode Capital Management LLC now owns 1,849,057 shares of the company’s stock valued at $15,110,000 after buying an additional 278,429 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in Aveanna Healthcare during the third quarter valued at $15,743,000. Nuveen LLC boosted its holdings in Aveanna Healthcare by 135.9% in the fourth quarter. Nuveen LLC now owns 1,571,308 shares of the company’s stock worth $12,838,000 after acquiring an additional 905,316 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Aveanna Healthcare by 20.9% in the fourth quarter. State Street Corp now owns 1,483,265 shares of the company’s stock worth $12,118,000 after acquiring an additional 256,392 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVAH has been the topic of a number of research analyst reports. Royal Bank Of Canada upgraded Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a report on Wednesday, June 3rd. Stephens upgraded Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $11.00 in a research report on Friday, May 15th. Truist Financial upped their price target on Aveanna Healthcare from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 20th. Barclays decreased their price objective on Aveanna Healthcare from $9.50 to $9.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Finally, BMO Capital Markets lowered their price objective on Aveanna Healthcare from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

About Aveanna Healthcare

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.