Aveanna Healthcare (NASDAQ:AVAH) Trading Down 4.8% – Should You Sell?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares dropped 4.8% on Wednesday . The stock traded as low as $7.25 and last traded at $7.2750. Approximately 646,663 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 1,133,989 shares. The stock had previously closed at $7.64.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. William Blair started coverage on shares of Aveanna Healthcare in a research report on Monday, December 8th. They set an “outperform” rating on the stock. Truist Financial boosted their price objective on shares of Aveanna Healthcare from $9.50 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Aveanna Healthcare in a research report on Friday, December 5th. Royal Bank Of Canada lifted their target price on Aveanna Healthcare from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 15th. Finally, BMO Capital Markets assumed coverage on Aveanna Healthcare in a research note on Thursday, November 13th. They set an “outperform” rating and a $11.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.06.

Aveanna Healthcare Stock Performance

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 20.53 and a beta of 2.06. The firm’s 50-day moving average price is $8.55 and its two-hundred day moving average price is $8.45. The company has a debt-to-equity ratio of 140.39, a quick ratio of 1.23 and a current ratio of 1.23.

Insider Activity at Aveanna Healthcare

In other Aveanna Healthcare news, CEO Jeff Shaner sold 29,357 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $7.85, for a total value of $230,452.45. Following the sale, the chief executive officer directly owned 2,394,179 shares in the company, valued at $18,794,305.15. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Deborah Stewart sold 11,962 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $7.85, for a total value of $93,901.70. Following the transaction, the chief accounting officer owned 251,676 shares of the company’s stock, valued at $1,975,656.60. This represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 259,638 shares of company stock valued at $2,109,595. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Aveanna Healthcare

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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 buying an additional 1,535,351 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 278,429 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Aveanna Healthcare in the third quarter valued at approximately $15,743,000. Nuveen LLC boosted its holdings in shares of Aveanna Healthcare by 135.9% in the 4th quarter. Nuveen LLC now owns 1,571,308 shares of the company’s stock worth $12,838,000 after acquiring an additional 905,316 shares in the last quarter. Finally, State Street Corp grew its position in Aveanna Healthcare by 20.9% during the 4th quarter. State Street Corp now owns 1,483,265 shares of the company’s stock worth $12,118,000 after acquiring an additional 256,392 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.