Kindred Healthcare, Inc. (KND) Lowered to “Sell” at Zacks Investment Research
Kindred Healthcare, Inc. (NYSE:KND) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Kindred Healthcare, Inc. is one of the largest providers of long-term healthcare services in the United States. Their health services division provides long-term care services by operating nursing centers and a rehabilitation therapy business, and their hospital division provides long-term acute care services by operating hospitals and an institutional pharmacy business. “
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Kindred Healthcare from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada dropped their price objective on Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating on the stock in a research note on Thursday, September 21st. Mizuho reiterated a “neutral” rating and set a $9.00 price objective on shares of Kindred Healthcare in a research note on Monday, July 3rd. Deutsche Bank AG reiterated a “hold” rating and set a $9.00 price objective (down previously from $10.00) on shares of Kindred Healthcare in a research note on Monday, September 18th. Finally, Bank of America Corporation dropped their price objective on Kindred Healthcare from $7.50 to $6.50 and set an “underperform” rating on the stock in a research note on Thursday, September 21st. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.94.
Kindred Healthcare (NYSE KND) traded down 6.29% during mid-day trading on Wednesday, hitting $6.70. 1,837,322 shares of the stock were exchanged. The firm has a 50-day moving average price of $7.21 and a 200-day moving average price of $9.08. Kindred Healthcare has a 12-month low of $5.50 and a 12-month high of $11.90. The stock’s market capitalization is $583.03 million.
Kindred Healthcare (NYSE:KND) last released its earnings results on Thursday, August 3rd. The health services provider reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Kindred Healthcare had a negative return on equity of 80.03% and a negative net margin of 7.06%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. Equities analysts predict that Kindred Healthcare will post $0.35 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its holdings in Kindred Healthcare by 10.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,773 shares of the health services provider’s stock valued at $312,000 after buying an additional 2,468 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Kindred Healthcare in the 2nd quarter valued at $216,000. Sterling Capital Management LLC acquired a new position in Kindred Healthcare in the 2nd quarter valued at $1,063,000. Bank of Nova Scotia grew its holdings in Kindred Healthcare by 232.3% in the 2nd quarter. Bank of Nova Scotia now owns 876,317 shares of the health services provider’s stock valued at $10,209,000 after buying an additional 612,598 shares in the last quarter. Finally, Glenview Capital Management LLC grew its holdings in Kindred Healthcare by 18.8% in the 2nd quarter. Glenview Capital Management LLC now owns 2,374,713 shares of the health services provider’s stock valued at $27,665,000 after buying an additional 375,000 shares in the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.
About Kindred Healthcare
Kindred Healthcare, Inc, incorporated on March 27, 1998, is a healthcare services company. The Company, through its subsidiaries, operates transitional care (TC) hospitals, a home health, hospice and community care business, inpatient rehabilitation hospitals (IRFs), a contract rehabilitation services business, nursing centers and assisted living facilities across the United States.
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