Aveanna Healthcare (NASDAQ:AVAH) Shares Gap Up – Here’s What Happened

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) gapped up before the market opened on Wednesday . The stock had previously closed at $6.47, but opened at $6.81. Aveanna Healthcare shares last traded at $6.89, with a volume of 305,426 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings cut Aveanna Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Raymond James Financial upgraded 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 note on Friday, March 20th. Barclays decreased their price target 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. Royal Bank Of Canada raised shares of Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Wednesday. Finally, Zacks Research lowered shares of Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.50.

Aveanna Healthcare Stock Up 6.8%

The firm has a 50-day simple moving average of $6.79 and a 200 day simple moving average of $7.77. The stock has a market capitalization of $1.50 billion, a P/E ratio of 5.86, a P/E/G ratio of 0.76 and a beta of 1.93. 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 (NASDAQ:AVAH) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $647.92 million during the quarter, compared to the consensus estimate of $613.22 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.59 EPS for the current year.

Insider Activity

In other news, insider Patrick A. Cunningham sold 125,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $7.59, for a total transaction of $948,750.00. Following the completion of the transaction, the insider owned 212,755 shares of the company’s stock, valued at approximately $1,614,810.45. This trade represents a 37.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. AustralianSuper Pty Ltd acquired a new position in Aveanna Healthcare during the 3rd quarter worth about $15,743,000. Vanguard Group Inc. grew its position 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 valued at $45,564,000 after buying an additional 1,535,351 shares during the last quarter. Millennium Management LLC increased its stake in shares of Aveanna Healthcare by 1,007.1% in the fourth quarter. Millennium Management LLC now owns 1,114,717 shares of the company’s stock valued at $9,107,000 after buying an additional 1,014,030 shares during the period. Nuveen LLC raised its position in shares of Aveanna Healthcare by 135.9% during 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 during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Aveanna Healthcare during the third quarter worth about $7,922,000. 87.96% of the stock is owned by 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.