Parkman Healthcare Partners LLC Invests $6.12 Million in Aveanna Healthcare Holdings Inc. $AVAH

Parkman Healthcare Partners LLC purchased a new position in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 714,451 shares of the company’s stock, valued at approximately $6,123,000.

Several other hedge funds also recently added to or reduced their stakes in AVAH. Legal & General Group Plc bought a new stake in Aveanna Healthcare in the second quarter worth about $396,000. The Manufacturers Life Insurance Company purchased a new position in shares of Aveanna Healthcare during the second quarter valued at approximately $367,000. Sanctuary Advisors LLC bought a new position in shares of Aveanna Healthcare during the second quarter valued at approximately $1,835,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Aveanna Healthcare during the 2nd quarter worth approximately $7,881,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Aveanna Healthcare during the 2nd quarter worth approximately $102,000. 87.96% of the stock is currently owned by institutional investors.

Trending Headlines about Aveanna Healthcare

Here are the key news stories impacting Aveanna Healthcare this week:

• Positive Sentiment: Royal Bank of Canada raised its price target from $10 to $16 and upgraded its rating to “outperform,” implying additional upside from the stock’s recent trading level. Benzinga analyst coverage
• Positive Sentiment: Truist Financial lifted its price target from $11 to $15 while maintaining a “hold” rating. The higher target reflects improved valuation expectations, even though Truist remains cautious on the shares. Benzinga analyst coverage
• Negative Sentiment: Insiders and major shareholders disclosed approximately 48.6 million shares of sales at an average price of $11.50, worth roughly $558.5 million. Sellers included Paul R. Vigano, Robert M. Williams Jr., and J.H. Whitney Equity Partners V, as well as CEO Jeff Shaner, director Rodney D. Windley, and insider Edwin C. Reisz. Although the sellers retained sizable positions, the volume of stock coming to market may pressure AVAH and raise questions about shareholder confidence. SEC insider transaction filing

Insider Transactions at Aveanna Healthcare

In related news, major shareholder Paul R. Vigano sold 14,500,002 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $11.50, for a total value of $166,750,023.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Robert M. Williams, Jr. sold 14,500,002 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $166,750,023.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 79,746,745 shares of company stock valued at $773,117,091. 5.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AVAH has been the topic of several research analyst reports. Wall Street Zen downgraded Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. UBS Group lifted their target price on Aveanna Healthcare from $8.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Raymond James Financial boosted their target price on shares of Aveanna Healthcare from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Friday, August 14th. Stephens upgraded shares of Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $11.00 in a report on Friday, May 15th. Finally, Truist Financial raised their price target on shares of Aveanna Healthcare from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.89.

Aveanna Healthcare Stock Up 4.1%

Shares of NASDAQ AVAH opened at $13.70 on Tuesday. Aveanna Healthcare Holdings Inc. has a 52-week low of $5.93 and a 52-week high of $13.98. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.92 and a beta of 1.90. The stock has a 50 day moving average price of $9.71 and a 200 day moving average price of $7.95. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16.

Aveanna Healthcare (NASDAQ:AVAH) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $670.48 million for the quarter, compared to the consensus estimate of $638.61 million. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%. Sell-side analysts expect that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current year.

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.