J.H. Whitney Equity Partners VII and affiliated entities sold over $169.6 million in Aveanna Healthcare Holdings stock in an underwritten secondary offering priced at $11.50 per share.
The transactions, executed on Aug. 20-21, involved 15 million shares sold by selling stockholders, including J.H. Whitney VII, L.P., PSA Healthcare Investment Holding LLC, and PSA Iliad Holdings LLC. J.H. Whitney VII and PSA Iliad Holdings no longer hold beneficial ownership of Aveanna shares, while PSA Healthcare Investment Holding retains indirect ownership of 12.3 million shares.
Aveanna Healthcare’s stock climbed to $13.70 on Aug. 21, up nearly 19% from the offering price and near its 52-week high of $13.98. The shares were trading at $11.15 in pre-market activity on Aug. 22.
The secondary offering followed strong financial results for Aveanna Healthcare in Q2 2026, with revenue reaching $670.5 million, exceeding projections of $638.6 million and marking a 13.7% year-over-year increase. EBITDA also surpassed expectations by 16%, prompting upward revisions to full-year guidance.
Analysts at Raymond James and RBC Capital raised their price targets on Aveanna Healthcare to $15.00 and $16.00, respectively, citing robust demand and an upcoming California private duty nursing rate increase scheduled for January 2027.
