Aveanna Healthcare (NASDAQ:AVAH) Sees Strong Trading Volume – Here’s What Happened

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) saw an uptick in trading volume on Tuesday . 1,930,093 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 1,845,977 shares.The stock last traded at $13.6950 and had previously closed at $13.58.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Aveanna Healthcare from $10.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, August 24th. Stephens upgraded Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $11.00 in a research note on Friday, May 15th. BMO Capital Markets raised their price target on Aveanna Healthcare from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Raymond James Financial lifted their price objective on Aveanna Healthcare from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Friday, August 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Aveanna Healthcare Stock Up 1.7%

The firm has a market cap of $3.01 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 0.85 and a beta of 1.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.47. The business has a 50-day moving average price of $10.79 and a two-hundred day moving average price of $8.35.

Aveanna Healthcare (NASDAQ:AVAH) last released its earnings results on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%.The firm had revenue of $670.48 million during the quarter, compared to analyst estimates of $638.61 million. On average, equities research analysts expect that Aveanna Healthcare Holdings Inc. will post 0.75 EPS for the current year.

Insider Activity

In other news, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $143,704,885.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Paul Vigano sold 14,500,002 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $166,750,023.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 59,904,505 shares of company stock worth $649,301,514. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aveanna Healthcare

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in Aveanna Healthcare by 252.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company’s stock valued at $27,000 after buying an additional 2,400 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Aveanna Healthcare during the 2nd quarter worth about $43,000. Summit Securities Group LLC purchased a new stake in Aveanna Healthcare during the 1st quarter worth about $53,000. Oxford Asset Management LLP acquired a new position in shares of Aveanna Healthcare during the 2nd quarter worth about $64,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Aveanna Healthcare in the 2nd quarter valued at about $69,000. 87.96% of the stock is owned by hedge funds and other 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.