J.H. Whitney Equity Partners V Sells 5,842,240 Shares of Aveanna Healthcare (NASDAQ:AVAH) Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder J.H. Whitney Equity Partners V sold 5,842,240 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 transaction of $36,455,577.60. Following the completion of the sale, the insider owned 13,450,547 shares of the company’s stock, valued at $83,931,413.28. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Price Performance

Shares of NASDAQ AVAH opened at $6.68 on Friday. The firm has a 50-day simple moving average of $6.79 and a 200-day simple moving average of $7.72. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 5.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.93. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.73 and a 52 week high of $10.32.

Aveanna Healthcare (NASDAQ:AVAH) last issued its earnings results on Thursday, May 14th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The business had revenue of $647.92 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%. Aveanna Healthcare’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts predict that Aveanna Healthcare Holdings Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings cut shares of Aveanna Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Truist Financial increased their target price on shares of Aveanna Healthcare from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 20th. BMO Capital Markets reduced their target price on shares of Aveanna Healthcare from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Raymond James Financial raised shares of Aveanna Healthcare from an “outperform” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a report on Friday, March 20th. Finally, 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 report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Aveanna Healthcare has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AVAH. AustralianSuper Pty Ltd purchased a new position in Aveanna Healthcare during the third quarter worth about $15,743,000. Vanguard Group Inc. boosted its stake in Aveanna Healthcare by 38.0% during the fourth 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 during the period. Millennium Management LLC boosted its stake in Aveanna Healthcare by 1,007.1% during the fourth quarter. Millennium Management LLC now owns 1,114,717 shares of the company’s stock worth $9,107,000 after buying an additional 1,014,030 shares during the period. Nuveen LLC boosted its stake in 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 buying an additional 905,316 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in Aveanna Healthcare during the third quarter worth about $7,922,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.