Amedisys (NASDAQ:AMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $61.00 price objective on the health services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.87% from the stock’s previous close.

According to Zacks, “Over the past year, Amedisys has been trading above the broader industry. The company is currently exploring new opportunities in both Home Health and Hospice. At the Home Health division, the company witnessed a decline in Medicare revenues, while there was an improvement in non-Medicare revenues. At the Hospice division, the company registered strong growth across all segments. A favorable demographic trend and strategic acquisitions bode well for the company. On the flip side, escalating operating expenses and declining gross margin continue to raise concerns. Also, an intense competitive landscape and regulatory concerns continue to pose challenges in the home health and hospice industry.”

AMED has been the topic of several other research reports. Mizuho raised Amedisys from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $65.00 in a report on Thursday, November 2nd. Benchmark raised Amedisys from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Thursday, November 2nd. Craig Hallum reissued a “buy” rating and set a $68.00 price objective (up previously from $55.00) on shares of Amedisys in a report on Thursday, November 9th. Jefferies Group reissued a “buy” rating and set a $60.00 price objective on shares of Amedisys in a report on Thursday, October 12th. Finally, SunTrust Banks reissued a “buy” rating and set a $60.00 price objective on shares of Amedisys in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $61.00.

Shares of Amedisys (AMED) traded up $3.43 during trading hours on Friday, hitting $54.53. The stock had a trading volume of 584,700 shares, compared to its average volume of 360,612. Amedisys has a one year low of $42.05 and a one year high of $65.91. The firm has a market cap of $1,720.00, a price-to-earnings ratio of 43.28, a PEG ratio of 1.13 and a beta of 0.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.33 and a quick ratio of 1.33.

Amedisys (NASDAQ:AMED) last announced its quarterly earnings data on Tuesday, November 7th. The health services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Amedisys had a return on equity of 14.68% and a net margin of 2.88%. The company had revenue of $380.20 million for the quarter, compared to analyst estimates of $384.59 million. During the same quarter last year, the firm earned $0.36 EPS. Amedisys’s revenue for the quarter was up 5.1% compared to the same quarter last year. equities research analysts anticipate that Amedisys will post 2.24 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. boosted its stake in Amedisys by 23.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,572 shares of the health services provider’s stock valued at $915,000 after buying an additional 2,812 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Amedisys by 29.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,484,041 shares of the health services provider’s stock valued at $83,048,000 after buying an additional 339,825 shares in the last quarter. Castleark Management LLC acquired a new stake in Amedisys in the 2nd quarter valued at $3,674,000. Assenagon Asset Management S.A. acquired a new stake in Amedisys in the 3rd quarter valued at $1,212,000. Finally, Bank of New York Mellon Corp boosted its stake in Amedisys by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 846,575 shares of the health services provider’s stock valued at $47,375,000 after buying an additional 82,247 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

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Amedisys Company Profile

Amedisys, Inc is a healthcare services company. The Company’s segments are Home Health, Hospice, Personal Care and Other. The Company is a provider of home health, hospice and personal care services. As of December 31, 2016, the Company owned and operated 327 Medicare-certified home healthcare centers, 79 Medicare-certified hospice care centers and 14 personal-care care centers in 34 states within the United States and the District of Columbia.

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Analyst Recommendations for Amedisys (NASDAQ:AMED)

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