Aveanna Healthcare (NASDAQ:AVAH) Reaches New 1-Year High on Strong Earnings

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $10.48 and last traded at $10.5660, with a volume of 842722 shares. The stock had previously closed at $9.05.

The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $670.48 million during the quarter, compared to analysts’ expectations of $638.61 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.

Wall Street Analyst Weigh In

AVAH has been the subject of several research analyst reports. Barclays upped their target price on shares of Aveanna Healthcare from $9.00 to $9.50 and gave the company an “overweight” rating in a report on Thursday, July 9th. Truist Financial raised their price objective on shares of Aveanna Healthcare from $9.00 to $11.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a report on Wednesday, June 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Aveanna Healthcare in a research report on Thursday, July 2nd. Finally, Stephens raised Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $10.00 to $11.00 in a report on Friday, May 15th. One equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $10.78.

Insider Transactions at Aveanna Healthcare

In related news, major shareholder J.H. Whitney Equity Partners V sold 2,419,035 shares of Aveanna Healthcare stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total transaction of $19,376,470.35. Following the sale, the insider owned 10,112,123 shares of the company’s stock, valued at $80,998,105.23. The trade was a 19.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Paul R. Vigano sold 3,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total value of $24,030,000.00. Following the completion of the transaction, the insider directly owned 190,130 shares in the company, valued at approximately $1,522,941.30. The trade was a 94.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,305,664 shares of company stock worth $215,555,910 over the last 90 days. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Aveanna Healthcare in the 2nd quarter worth approximately $63,504,000. Vanguard Group Inc. raised its position in shares of Aveanna Healthcare by 38.0% during the 4th quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company’s stock worth $45,564,000 after buying an additional 1,535,351 shares in the last quarter. Geode Capital Management LLC raised its holdings in Aveanna Healthcare by 17.7% during the fourth quarter. Geode Capital Management LLC now owns 1,849,057 shares of the company’s stock worth $15,110,000 after purchasing an additional 278,429 shares in the last quarter. Nuveen LLC lifted its holdings in shares of Aveanna Healthcare by 135.9% in the fourth quarter. Nuveen LLC now owns 1,571,308 shares of the company’s stock valued at $12,838,000 after buying an additional 905,316 shares during the period. Finally, State Street Corp boosted its position in shares of Aveanna Healthcare by 20.9% during the 4th quarter. State Street Corp now owns 1,483,265 shares of the company’s stock valued at $12,118,000 after purchasing an additional 256,392 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Aveanna Healthcare Stock Up 18.5%

The company has a debt-to-equity ratio of 5.35, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $2.34 billion, a P/E ratio of 9.11, a PEG ratio of 0.89 and a beta of 1.90. The stock’s fifty day moving average is $8.77 and its two-hundred day moving average is $7.71.

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.