Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Sells $8,000,000.00 in Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder Paul Vigano sold 1,000,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.00, for a total transaction of $8,000,000.00. Following the transaction, the insider directly owned 245,251 shares of the company’s stock, valued at approximately $1,962,008. This trade represents a 80.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Aveanna Healthcare Stock Performance

Shares of AVAH stock opened at $8.64 on Monday. The firm’s 50 day moving average price is $7.14 and its 200-day moving average price is $7.57. The company has a debt-to-equity ratio of 5.35, a quick ratio of 1.47 and a current ratio of 1.47. Aveanna Healthcare Holdings Inc. has a one year low of $3.73 and a one year high of $10.32. The firm has a market cap of $1.88 billion, a P/E ratio of 7.32, a P/E/G ratio of 0.89 and a beta of 1.93.

Aveanna Healthcare (NASDAQ:AVAH) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $647.91 million during the quarter, compared to analysts’ expectations of $613.22 million. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts predict that Aveanna Healthcare Holdings Inc. will post 0.65 EPS for the current year.

Hedge Funds Weigh In On Aveanna Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC grew its position in shares of Aveanna Healthcare by 425.8% during the first quarter. Segall Bryant & Hamill LLC now owns 163,966 shares of the company’s stock worth $1,056,000 after buying an additional 132,779 shares in the last quarter. Bank of America Corp DE raised its holdings in Aveanna Healthcare by 64.2% in the first quarter. Bank of America Corp DE now owns 402,510 shares of the company’s stock valued at $2,592,000 after acquiring an additional 157,368 shares in the last quarter. Smith Group Asset Management LLC lifted its stake in Aveanna Healthcare by 34.3% in the first quarter. Smith Group Asset Management LLC now owns 263,669 shares of the company’s stock worth $1,698,000 after acquiring an additional 67,393 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Aveanna Healthcare by 22.1% in the first quarter. EverSource Wealth Advisors LLC now owns 17,552 shares of the company’s stock worth $113,000 after acquiring an additional 3,172 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Aveanna Healthcare by 56.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 36,509 shares of the company’s stock worth $235,000 after acquiring an additional 13,155 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVAH. Raymond James Financial upgraded Aveanna Healthcare from an “outperform” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a report on Friday, March 20th. Weiss Ratings downgraded Aveanna Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. BMO Capital Markets cut their price target on shares of Aveanna Healthcare from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note 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, June 3rd. Finally, Truist Financial raised their price objective on shares of Aveanna Healthcare from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.