Overview
Raymond James has revised its monthly healthcare top picks, identifying three stocks it believes present timely opportunities driven by upcoming earnings and data events. The firm focused the changes on names with near-term catalysts that could alter investor perception in the weeks ahead.
1. Aveanna Healthcare (AVAH)
Raymond James added Aveanna Healthcare to its August shortlist ahead of the company’s August 13 earnings release. The firm cites the forthcoming report as a potential trigger for upside in near-term results and expects investor sentiment to improve if management discussion emphasizes a California rate increase referenced in the state budget for calendar year 2027.
On the monthly top picks list, Aveanna replaces Acadia Healthcare. Raymond James noted that it continues to carry a Strong Buy rating on Acadia, but prefers Aveanna for this monthly list because of the imminent earnings event and the list’s focus on near-term catalysts.
2. Carriage Services (CSV)
Carriage Services was added to the list as Raymond James highlighted what it sees as an attractive short-term setup. The firm expects Carriage to deliver solid results amid stabilizing funeral services trends, a pattern it says aligns with public CDC data and recent results reported by the larger peer Service Corporation International.
The investment bank pointed out that Carriage Services has fallen about 20% since April and currently trades at roughly 8 times 2027 estimated EBITDA, creating what Raymond James describes as a steep discount to Service Corporation International. The firm views the current valuation and the sector dynamics as an appealing entry point for an equity with what it terms long-term fundamental tailwinds. Carriage Services replaces UnitedHealth Group on Raymond James’ monthly list.
3. Viking Therapeutics (VKTX)
Viking Therapeutics was also added to the top picks. Raymond James cited a positive near-term outlook tied to two expected catalysts later this year: an initial readout from an 11-arm maintenance study for VK2735, a GLP-1/GIP dual-agonist, and initial data from the company’s amylin program VK3019.
The firm noted that Viking’s pipeline includes an injectable GLP-1/GIP agent already enrolled in pivotal studies and an oral dual-agonist candidate that Raymond James believes could be the first oral dual-agonist in the obesity market. The bank expects Phase 3 initiation for the oral program in the fourth quarter of 2026.
Context and positioning
Across the three additions, Raymond James emphasized proximity to discrete events - earnings releases or clinical readouts - as the primary rationale for inclusion on its monthly list. The changes reflect the bank’s approach of prioritizing names where near-term news flow could meaningfully affect sentiment and valuation.
Bottom line
For August, Raymond James replaced Acadia Healthcare and UnitedHealth Group on its monthly healthcare top picks with Aveanna Healthcare and Carriage Services, respectively, and added Viking Therapeutics. The selections rest on the expectation that upcoming earnings, regulatory discussion and clinical data could act as catalysts that influence investor appetite over the coming weeks.