Aveanna Healthcare drops as PE sponsor reduces stake

Aveanna Healthcare Holdings

21/08/2026 12:18

** Shares of home care provider Aveanna Healthcare Holdings AVAH.O down 8.4% at $11.88 premarket on Fri after secondary offering priced
** AVAH late Thurs announced 15 mln shares sold by affiliates of J.H. Whitney Equity Partners and some current and former co insiders at $11.75
** Offering price is 9.4% discount to stock's last sale on Thurs
** RBC sole bookrunner for offering
** Private equity firm J.H. Whitney comprised the bulk of the selling; AVAH has ~218.3 mln shares outstanding, per the prospectus 
** Atlanta, Georgia-based AVAH's stock notched 25% gain on Aug 13 after co posted Q2 beat and hiked its annual rev forecast; it cited strong organic growth across all three business segments -- Private Duty Services (PDS), Home Health & Hospice (HHH) and Medical Solutions (MS)
** Through Thurs, stock surged ~70% over the past three months; it touched record intraday high of $13.39 on Thurs
** 8 of 11 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $13, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))