Aveanna Healthcare (NASDAQ:AVAH) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $13.10 and traded as high as $13.39. Aveanna Healthcare shares last traded at $13.26, with a volume of 2,326,589 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank Of Canada boosted their price objective on Aveanna Healthcare from $10.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, August 24th. Wall Street Zen downgraded Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Raymond James Financial lifted their price target on Aveanna Healthcare from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a report on Friday, August 14th. JPMorgan Chase & Co. lifted their price target on Aveanna Healthcare from $8.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Finally, UBS Group boosted their price target on shares of Aveanna Healthcare from $8.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.25.

Aveanna Healthcare Stock Down 0.8%

The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 0.81 and a beta of 1.95. The business has a fifty day moving average of $13.10 and a 200 day moving average of $9.25. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.16 and a quick ratio of 1.16.

Aveanna Healthcare (NASDAQ:AVAH) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $638.61 million. As a group, equities analysts predict that Aveanna Healthcare Holdings Inc. will post 0.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Rodney Windley sold 180,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $2,070,000.00. Following the completion of the transaction, the director directly owned 2,078,017 shares in the company, valued at approximately $23,897,195.50. This represents a 7.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Robert Williams, Jr. sold 14,500,002 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was 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. Over the last quarter, insiders have sold 48,566,081 shares of company stock worth $558,509,932. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Aveanna Healthcare

A number of institutional investors have recently made changes to their positions in AVAH. BlackRock Inc. purchased a new stake in Aveanna Healthcare during the second quarter worth about $63,504,000. Braidwell LP lifted its position in shares of Aveanna Healthcare by 39.1% during the second quarter. Braidwell LP now owns 3,065,106 shares of the company’s stock worth $26,268,000 after purchasing an additional 861,600 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Aveanna Healthcare by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,334,374 shares of the company’s stock worth $8,593,000 after purchasing an additional 441,707 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Aveanna Healthcare in the second quarter valued at approximately $7,881,000. Finally, Bank of America Corp DE purchased a new position in shares of Aveanna Healthcare in the second quarter valued at approximately $6,124,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

About Aveanna Healthcare

Aveanna Healthcare Holdings Inc (NASDAQ: AVAH) is a provider of home-based healthcare services in the United States. The company serves patients across the lifespan, with a particular focus on children and adults who require ongoing medical support, skilled nursing or assistance with daily activities.

Aveanna’s services include private-duty nursing, home health care, hospice and palliative care, therapy, medical solutions and personal-care services. Its clinicians and caregivers support patients with complex medical conditions, disabilities and other needs in their homes and community settings, working with patients, families, physicians and healthcare organizations.

The company was established in 2016 through the combination of Pediatric Services of America and Epic Health Services and became a publicly traded company in 2021.