Aveanna Healthcare (NASDAQ:AVAH) Shares Down 7.6% – Here’s Why

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) dropped 7.6% during mid-day trading on Monday . The stock traded as low as $6.67 and last traded at $6.6270. Approximately 1,037,217 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 1,312,240 shares. The stock had previously closed at $7.17.

Wall Street Analysts Forecast Growth

AVAH has been the subject of several analyst reports. Truist Financial lifted their price objective on shares of Aveanna Healthcare from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Barclays reduced their price objective on shares of Aveanna Healthcare from $9.50 to $9.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. Zacks Research lowered shares of Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. 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 research note on Friday, March 20th. Finally, Royal Bank Of Canada raised shares of Aveanna Healthcare from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.50.

Aveanna Healthcare Stock Performance

The stock’s 50-day simple moving average is $6.79 and its two-hundred day simple moving average is $7.77. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 5.48, a price-to-earnings-growth ratio of 0.76 and a beta of 1.93. The company has a debt-to-equity ratio of 5.35, a quick ratio of 1.47 and a current ratio of 1.47.

Aveanna Healthcare (NASDAQ:AVAH) last announced its quarterly earnings data 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 analyst estimates of $613.22 million. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.59 earnings per share for the current year.

Insider Activity at Aveanna Healthcare

In other news, insider Patrick A. Cunningham sold 125,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $7.59, for a total transaction of $948,750.00. Following the completion of the transaction, the insider owned 212,755 shares of the company’s stock, valued at approximately $1,614,810.45. This represents a 37.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd increased its stake in Aveanna Healthcare by 8.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 14,149 shares of the company’s stock valued at $126,000 after acquiring an additional 1,151 shares during the period. Barclays PLC increased its holdings in shares of Aveanna Healthcare by 0.8% during the third quarter. Barclays PLC now owns 179,359 shares of the company’s stock worth $1,591,000 after buying an additional 1,366 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Aveanna Healthcare by 4.5% in the third quarter. Franklin Resources Inc. now owns 35,630 shares of the company’s stock valued at $316,000 after acquiring an additional 1,528 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Aveanna Healthcare by 9.8% in the 4th quarter. Intech Investment Management LLC now owns 19,483 shares of the company’s stock worth $159,000 after acquiring an additional 1,739 shares in the last quarter. Finally, Balboa Wealth Partners boosted its holdings in shares of Aveanna Healthcare by 13.5% in the 4th quarter. Balboa Wealth Partners now owns 16,890 shares of the company’s stock worth $138,000 after acquiring an additional 2,007 shares in the last quarter. Institutional investors and hedge funds 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.