Truist Financial Cuts Aveanna Healthcare (NASDAQ:AVAH) Price Target to $5.00

Aveanna Healthcare (NASDAQ:AVAH) had its target price decreased by Truist Financial from $6.00 to $5.00 in a research note published on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other analysts also recently issued reports on the stock. UBS Group upped their price target on shares of Aveanna Healthcare from $4.50 to $5.00 and gave the company a “sell” rating in a report on Friday, May 9th. Barclays assumed coverage on shares of Aveanna Healthcare in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $5.50 target price for the company. Finally, Wall Street Zen cut shares of Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Aveanna Healthcare has an average rating of “Hold” and a consensus price target of $5.10.

Aveanna Healthcare Stock Down 1.5%

Shares of NASDAQ:AVAH opened at $3.96 on Wednesday. The company has a 50-day moving average price of $5.02 and a 200 day moving average price of $4.84. The company has a market cap of $772.56 million, a P/E ratio of 198.00 and a beta of 1.98. Aveanna Healthcare has a 52 week low of $2.61 and a 52 week high of $6.19.

Insider Activity

In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 750,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total value of $3,900,000.00. Following the transaction, the insider owned 28,890,756 shares in the company, valued at $150,231,931.20. The trade was a 2.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Deborah Stewart sold 15,457 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $5.56, for a total transaction of $85,940.92. Following the completion of the transaction, the chief accounting officer owned 285,396 shares in the company, valued at $1,586,801.76. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,115,345 shares of company stock worth $37,838,057 in the last quarter. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Aveanna Healthcare

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Aveanna Healthcare by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 466,706 shares of the company’s stock valued at $2,133,000 after purchasing an additional 4,047 shares in the last quarter. Raymond James Financial Inc. bought a new position in Aveanna Healthcare in the 4th quarter worth about $155,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Aveanna Healthcare by 21.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 190,570 shares of the company’s stock valued at $871,000 after acquiring an additional 33,468 shares in the last quarter. Swiss National Bank bought a new position in shares of Aveanna Healthcare in the fourth quarter valued at approximately $434,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Aveanna Healthcare by 42.0% in the fourth quarter. Intech Investment Management LLC now owns 18,813 shares of the company’s stock valued at $86,000 after acquiring an additional 5,566 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Aveanna Healthcare

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.