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Aveanna Healthcare Ends Four-Year California Rate Fight
Aveanna Healthcare announced that California's 2027 budget will include a meaningful pediatric private duty nursing rate increase effective January 1, 2027, ending a four-year advocacy push. The company reported second-quarter revenue of roughly $670 million, up 13.7% year over year, with adjusted EBITDA up 8% to $95.4 million. Aveanna also raised full-year guidance to more than $2.68 billion in revenue and more than $365 million in adjusted EBITDA. Private duty services revenue per hour rose just 1.7% to $44.62, while cost of revenue per hour jumped 7.8% to $31.74. The company closed the Family First Homecare acquisition in early June and expects integration to finish by late in the fourth quarter.
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Ross Stores and Strategy surge while OSI Systems and Aveanna slide
Stock futures edged slightly higher early Friday as markets attempted to rebound from Thursday's steep selloff, with gains supported by a pullback in U.S. Treasury yields. Strategy rallied 10% after the firm returned to profitability on its Bitcoin holdings, swinging to an estimated $1.4B unrealized gain as the cryptocurrency surged nearly 22% over five sessions to around $78,500. Ross Stores jumped 9% after reporting stronger-than-expected quarterly results, with sales up 14% to $6.3B, comparable store sales up 10%, and EPS of $2.66, while raising its FY2026 EPS outlook to $8.61-$8.77 from $7.50-$7.74. OSI Systems plunged 14% after Q4 revenue declined 4.1% Y/Y to $484.1M, missing estimates by $45.6M, and its FY2027 revenue guidance of $1.875B-$1.93B came in below the $1.94B consensus. Aveanna Healthcare Holdings tumbled 9% after existing stockholders priced a 15M-share secondary offering at $11.75 per share, with the company receiving no proceeds. Flowers Foods fell 5% after Q2 revenue declined 4% Y/Y to $1.19B, missing estimates by $40M, and the company cut its FY2026 outlook to $5.07B-$5.14B in sales and $0.75-$0.85 in adjusted EPS, below consensus.
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Aveanna Healthcare prices 15M share secondary offering at $11.75 per share
Aveanna Healthcare Holdings announced the pricing of a secondary public offering of 15 million shares of common stock by certain selling stockholders at $11.75 per share. The shares are being offered by existing holders, including affiliates of J.H. Whitney Equity Partners VII, LLC and certain current and former directors and officers. All net proceeds from the offering will go to the selling stockholders, as Aveanna is not issuing new shares and will receive no proceeds. Affiliates of J.H. Whitney granted the underwriter a 30-day option to purchase up to an additional 2.25 million shares. The offering is scheduled to close on or about August 24, 2026.
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Aveanna hits 52-week high after Q2 beat, guidance hike
Shares of Aveanna Healthcare reached a new 52-week high on Thursday after the home healthcare provider reported better-than-expected second quarter 2026 financials and raised its full-year outlook above consensus. The Atlanta-based company recorded $670.5 million in revenue for the quarter, up nearly 14% year-over-year and beating consensus by $31.9 million, driven by its Private Duty Services segment. Adjusted net income per diluted share rose about 22% year-over-year to $0.22, beating consensus by $0.05, while adjusted EBITDA increased about 8% to $95.4 million. Aveanna raised its full-year revenue outlook to over $2.68 billion from a prior range of $2.63 billion to $2.65 billion, and its adjusted EBITDA guidance to more than $365 million from $338 million to $342 million previously.
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Zacks Highlights Three Cheap Medical Stocks as US-Iran Tensions Rattle Markets
Zacks Investment Research identifies Elevance Health, Tenet Healthcare, and Aveanna Healthcare Holdings as attractively valued medical stocks amid renewed US-Iran military confrontation and geopolitical uncertainty. The firm notes that healthcare demand remains non-discretionary, and these companies carry a Zacks Rank #2 (Buy) with Value and Growth scores of A. Elevance Health raised its 2026 earnings guidance and trades at a forward price-to-sales ratio of 0.46, below its industry average. Tenet Healthcare reaffirmed its 2026 outlook with ambulatory operations generating nearly half of EBITDA, while Aveanna Healthcare raised full-year guidance after first-quarter revenue climbed nearly 16% and adjusted EBITDA rose more than 25%. All three have outperformed the Zacks Medical sector year-to-date, with Elevance and Aveanna also beating the S&P 500.
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Zacks Screen Highlights Aveanna Healthcare as Top Value Stock for July
Zacks Investment Research released a value-stock screen for July, identifying seven highly ranked stocks, including Aveanna Healthcare Holdings. The screen filters for Zacks Rank #1 or #2 stocks with price-to-earnings and price-to-sales ratios below their industry medians, along with strong quarterly earnings growth and positive estimate revisions. Aveanna, a home healthcare provider serving roughly 80,000 patients across nearly 40 states, recently beat first-quarter earnings estimates by 42% and raised guidance, marking its fourth straight beat-and-raise quarter. The company completed its acquisition of Family First Holding in early June, adding 27 locations in seven states. Aveanna trades at a 30% discount to its industry with a forward price-to-earnings ratio of 12.6, despite its stock soaring 250% over the past two years.
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Aveanna Healthcare and DaVita Show Strong Value Metrics
Aveanna Healthcare and DaVita are currently highlighted as potentially undervalued stocks based on key valuation metrics. Aveanna Healthcare holds a Zacks Rank #2 (Buy) and an A grade for Value, with a P/E ratio of 17.55 compared to its industry average of 17.67 and a P/S ratio of 0.73 versus the industry's 1.25. DaVita carries a Zacks Rank #1 (Strong Buy) and an A grade for Value, trading at a forward earnings multiple of 10.65 and a PEG ratio of 0.83, while its industry averages are 17.67 and 1.37 respectively. Both companies operate in the Medical - Outpatient and Home Healthcare industry, and their current valuation levels combined with positive earnings outlooks make them stand out among value stocks.
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Aveanna Healthcare Outperforms Medical Sector Year-to-Date
Aveanna Healthcare has gained about 0.4% so far this year, outperforming the broader Medical sector which has lost an average of 3.6%. The stock holds a Zacks Rank of 2, or Buy, and its full-year earnings consensus estimate has risen 17.5% over the past quarter. Within the Medical - Outpatient and Home Healthcare industry, which has returned about 9% year-to-date, Aveanna is slightly underperforming. Align Technology, another Medical stock, has returned 7.9% this year and also carries a Zacks Rank of 2.
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