Aveanna Healthcare Stock Is Up 23%. Here’s Why a Fund Still Sold $16 Million Worth
Key Points
Summit Partners sold 2,100,000 shares of Aveanna Healthcare in the first quarter; the estimated trade size was $16.23 million (based on quarterly average prices).
The quarter-end position value decreased by $26.62 million, reflecting both trading activity and stock price movement.
The transaction represented a 2.42% change in fund’s reportable assets under management (AUM).
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On May 8, 2026, Summit Partners disclosed in an SEC filing that it sold 2,100,000 shares of Aveanna Healthcare (NASDAQ:AVAH), an estimated $16.23 million trade based on quarterly average pricing.
What happened
According to its SEC filing dated May 8, 2026, Summit Partners sold 2,100,000 shares of Aveanna Healthcare, with the estimated transaction value totaling $16.23 million based on the average closing price for the quarter. The fund’s quarter-end position value declined by $26.62 million, a figure reflecting both the share sale and changes in the stock’s price.
What else to know
- Summit Partners continued to reduce its Aveanna Healthcare stake, which now makes up 5.23% of 13F reportable assets under management after the sale.
- Top holdings after the filing:
- NYSE:KVYO: $366.88 million (54.7% of AUM)
- NASDAQ:LFST: $186.07 million (27.8% of AUM)
- NYSE:AKA: $62.43 million (9.3% of AUM)
- NASDAQ:AVAH: $35.08 million (5.2% of AUM)
- NASDAQ:MTSI: $10.94 million (1.6% of AUM)
- As of May 7, 2026, Aveanna Healthcare shares were priced at $6.94, up 23% over the past year.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.43 billion |
| Net Income (TTM) | $225.03 million |
| Price (as of market close May 7, 2026) | $6.94 |
Company Snapshot
- Aveanna Healthcare offers private duty nursing, home health and hospice care, pediatric therapy, and enteral nutrition services, with revenue generated across three segments: Private Duty Services, Home Health & Hospice, and Medical Solutions.
- The firm operates a diversified home care platform that enables patients to receive skilled nursing and therapy services at home, reducing the reliance on higher-cost institutional settings.
- It serves medically fragile children, adults requiring home-based care, and families seeking pediatric or hospice services across the United States.
Aveanna Healthcare provides home-based healthcare services in the United States, with a focus on medically complex pediatric and adult populations. The company leverages a patient-centered care delivery platform that allows patients to remain in their homes and reduces the need for high-cost care settings. Aveanna Healthcare operates a diversified home care platform company and provides home-based healthcare services across the United States.
What this transaction means for investors
This sale ultimately looks more like an investor steadily monetizing gains as opposed to a sign that Summit Partners believes the underlying business may be cracking. Summit still has Aveanna Healthcare as more than 5% of reported assets after the trim, and the company’s latest numbers hardly suggest operational weakness.
Plus, Aveanna just posted one of its strongest years since going public. Full-year revenue climbed 20.2% to $2.43 billion, while adjusted EBITDA surged nearly 75% to $320.9 million. The company also generated $131 million in free cash flow during 2025 and ended the year with $193 million in cash.
The bigger long-term story may be scale. Aveanna is continuing to consolidate the fragmented home healthcare market through acquisitions, including its planned $175.5 million Family First Homecare deal, which is expected to close this quarter. Ultimately, it’ll be important to watch whether management can keep translating growth into stronger margins and cash flow.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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