Zacks Investment Research Lowers Amedisys (AMED) to Hold

Amedisys (NASDAQ:AMED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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.”

A number of other research firms also recently issued reports on AMED. Benchmark raised Amedisys from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Thursday, November 2nd. William Blair reissued an “outperform” rating on shares of Amedisys in a research report on Tuesday, November 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 target price (up from $56.00) on shares of Amedisys in a research report on Thursday, November 9th. SunTrust Banks reissued a “buy” rating and issued a $60.00 target price on shares of Amedisys in a research report on Monday, October 9th. Finally, Craig Hallum reissued a “buy” rating and issued a $68.00 target price (up from $55.00) on shares of Amedisys in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Amedisys presently has an average rating of “Hold” and an average target price of $61.00.

Shares of Amedisys (NASDAQ AMED) traded up $0.80 during trading on Friday, reaching $55.59. The company had a trading volume of 161,189 shares, compared to its average volume of 354,700. The company has a market capitalization of $1,891.63, a price-to-earnings ratio of 44.47, a P/E/G ratio of 1.19 and a beta of 0.71. Amedisys has a 1-year low of $43.48 and a 1-year high of $65.91. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.16.

Amedisys (NASDAQ:AMED) last released its earnings results on Tuesday, November 7th. The health services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $380.20 million during the quarter, compared to the consensus estimate of $384.59 million. During the same period last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. research analysts anticipate that Amedisys will post 2.24 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Investors Inc. PA grew its position in shares of Amedisys by 2.3% in the second quarter. Federated Investors Inc. PA now owns 1,929 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 44 shares in the last quarter. Suntrust Banks Inc. grew its position in shares of Amedisys by 4.3% in the second quarter. Suntrust Banks Inc. now owns 5,702 shares of the health services provider’s stock valued at $358,000 after purchasing an additional 237 shares in the last quarter. ETRADE Capital Management LLC grew its position in shares of Amedisys by 4.7% in the second quarter. ETRADE Capital Management LLC now owns 6,409 shares of the health services provider’s stock valued at $403,000 after purchasing an additional 285 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Amedisys by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 22,348 shares of the health services provider’s stock valued at $1,404,000 after purchasing an additional 410 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Amedisys by 1.1% in the second quarter. California Public Employees Retirement System now owns 62,300 shares of the health services provider’s stock valued at $3,913,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

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About Amedisys

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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