Kindred Healthcare, Inc. (NYSE:KND) was the target of a large decrease in short interest in December. As of December 29th, there was short interest totalling 3,097,042 shares, a decrease of 47.1% from the December 15th total of 5,849,880 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average trading volume of 4,576,974 shares, the days-to-cover ratio is currently 0.7 days.
KND has been the subject of several research analyst reports. Royal Bank of Canada reduced their price target on shares of Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating for the company in a research report on Thursday, September 21st. Bank of America reduced their price target on shares of Kindred Healthcare from $7.50 to $6.50 and set an “underperform” rating for the company in a research report on Thursday, September 21st. Zacks Investment Research downgraded shares of Kindred Healthcare from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Mizuho restated a “neutral” rating and issued a $7.50 price target (down previously from $8.00) on shares of Kindred Healthcare in a research report on Tuesday, October 10th. Finally, ValuEngine upgraded shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $9.31.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Kindred Healthcare by 0.3% in the 2nd quarter. BlackRock Inc. now owns 10,808,864 shares of the health services provider’s stock worth $125,923,000 after buying an additional 29,673 shares in the last quarter. Vanguard Group Inc. lifted its position in Kindred Healthcare by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,031,919 shares of the health services provider’s stock worth $93,572,000 after buying an additional 635,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kindred Healthcare by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,004,440 shares of the health services provider’s stock worth $69,952,000 after purchasing an additional 315,752 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Kindred Healthcare by 69.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,572,684 shares of the health services provider’s stock worth $24,830,000 after purchasing an additional 1,468,066 shares during the last quarter. Finally, Glenview Capital Management LLC increased its stake in shares of Kindred Healthcare by 18.8% during the 2nd quarter. Glenview Capital Management LLC now owns 2,374,713 shares of the health services provider’s stock worth $27,665,000 after purchasing an additional 375,000 shares during the last quarter. Institutional investors own 85.16% of the company’s stock.
Kindred Healthcare (NYSE:KND) last released its earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.08. Kindred Healthcare had a negative net margin of 8.06% and a positive return on equity of 2.29%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. equities analysts expect that Kindred Healthcare will post 0.31 earnings per share for the current year.
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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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