Virtus Advisers LLC purchased a new stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 42,390 shares of the company’s stock, valued at approximately $363,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Aveanna Healthcare by 38.0% in the fourth quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company’s stock valued at $45,564,000 after purchasing an additional 1,535,351 shares during the period. Dimensional Fund Advisors LP grew its position in Aveanna Healthcare by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,334,374 shares of the company’s stock valued at $8,593,000 after buying an additional 441,707 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Aveanna Healthcare by 425.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 163,966 shares of the company’s stock valued at $1,056,000 after buying an additional 132,779 shares during the period. Weiss Asset Management LP acquired a new position in Aveanna Healthcare in the 1st quarter valued at $732,000. Finally, Smith Group Asset Management LLC raised its position in Aveanna Healthcare by 34.3% during the 1st quarter. Smith Group Asset Management LLC now owns 263,669 shares of the company’s stock worth $1,698,000 after buying an additional 67,393 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently weighed in on AVAH. BMO Capital Markets lifted their target price on shares of Aveanna Healthcare from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 14th. 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 for the company in a report on Wednesday, June 3rd. UBS Group raised their price objective 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. Barclays lifted their price objective on Aveanna Healthcare from $9.00 to $9.50 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Raymond James Financial lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.78.
Insiders Place Their Bets
In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 5,842,240 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $6.24, for a total transaction of $36,455,577.60. Following the transaction, the insider owned 13,450,547 shares in the company, valued at $83,931,413.28. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Robert M. Williams, Jr. sold 7,000,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $6.24, for a total value of $43,680,000.00. Following the completion of the sale, the insider owned 252,899 shares of the company’s stock, valued at approximately $1,578,089.76. This trade represents a 96.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,180,664 shares of company stock worth $214,607,160 over the last quarter. 5.30% of the stock is owned by corporate insiders.
Aveanna Healthcare Stock Performance
Shares of AVAH stock opened at $13.16 on Friday. The company has a 50 day moving average price of $9.58 and a 200 day moving average price of $7.92. Aveanna Healthcare Holdings Inc. has a one year low of $5.93 and a one year high of $13.61. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.90.
Aveanna Healthcare (NASDAQ:AVAH – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. The business had revenue of $670.48 million for the quarter, compared to analyst estimates of $638.61 million. Sell-side analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.68 EPS for the current year.
Aveanna Healthcare 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.
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