Aveanna Healthcare (NASDAQ:AVAH) Reaches New 12-Month High Following Analyst Upgrade

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares reached a new 52-week high during trading on Wednesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $9.50 price target on the stock, up from their previous price target of $5.50. Aveanna Healthcare traded as high as $7.61 and last traded at $7.27, with a volume of 3007322 shares traded. The stock had previously closed at $7.04.

Other analysts also recently issued reports about the company. UBS Group upgraded Aveanna Healthcare from a “sell” rating to a “neutral” rating and lifted their price target for the company from $6.75 to $8.00 in a research note on Tuesday. Truist Financial decreased their price target on Aveanna Healthcare from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen upgraded Aveanna Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Raymond James Financial upgraded Aveanna Healthcare from a “market perform” rating to an “outperform” rating and set a $9.00 price target on the stock in a research note on Monday, August 11th. Finally, Jefferies Financial Group upgraded Aveanna Healthcare from a “hold” rating to a “buy” rating and decreased their price target for the company from $6.25 to $6.00 in a research note on Monday, July 21st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Insider Activity at Aveanna Healthcare

In other Aveanna Healthcare news, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the sale, the insider directly owned 28,890,756 shares in the company, valued at approximately $150,231,931.20. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Paul R. Vigano sold 750,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total value of $3,900,000.00. Following the completion of the transaction, the insider directly owned 28,890,756 shares of the company’s stock, valued at approximately $150,231,931.20. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,295,145 shares of company stock valued at $11,941,141 in the last 90 days. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aveanna Healthcare

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in shares of Aveanna Healthcare by 105.0% in the fourth quarter. Millennium Management LLC now owns 400,374 shares of the company’s stock worth $1,830,000 after acquiring an additional 205,023 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Aveanna Healthcare by 577.0% in the fourth quarter. Legal & General Group Plc now owns 36,409 shares of the company’s stock worth $166,000 after acquiring an additional 31,031 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Aveanna Healthcare by 32.1% in the fourth quarter. Deutsche Bank AG now owns 34,564 shares of the company’s stock worth $158,000 after acquiring an additional 8,396 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Aveanna Healthcare in the fourth quarter worth $223,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Aveanna Healthcare by 50.9% in the first quarter. Teacher Retirement System of Texas now owns 49,881 shares of the company’s stock worth $270,000 after acquiring an additional 16,835 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Aveanna Healthcare Stock Up 3.3%

The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 90.88 and a beta of 1.95. The stock has a fifty day moving average price of $4.84 and a two-hundred day moving average price of $4.90.

Aveanna Healthcare Company Profile

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides pediatric and adult healthcare services in the United States. Its patient-centered care delivery platform allows patients to remain in their homes and minimizes the overutilization of high-cost care settings, such as hospitals or skilled nursing facilities.