Amedisys (NASDAQ:AMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $62.00 price target on the health services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.60% from the company’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.”
Several other research analysts also recently commented on the company. BidaskClub downgraded Amedisys from a “sell” rating to a “strong sell” rating in a report on Thursday, January 11th. William Blair restated an “outperform” rating on shares of Amedisys in a report on Tuesday, November 21st. SunTrust Banks restated a “buy” rating and set a $70.00 price objective on shares of Amedisys in a report on Friday, November 10th. Robert W. Baird raised their price objective on Amedisys from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $68.00 target price (up previously from $55.00) on shares of Amedisys in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.09.
Amedisys (NASDAQ:AMED) last released its quarterly earnings data on Tuesday, November 7th. The health services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $380.20 million for the quarter, compared to the consensus estimate of $384.59 million. Amedisys had a return on equity of 14.68% and a net margin of 2.88%. Amedisys’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. equities analysts anticipate that Amedisys will post 2.24 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Investors Inc. PA boosted its position in Amedisys by 2.3% during the 2nd quarter. Federated Investors Inc. PA now owns 1,929 shares of the health services provider’s stock valued at $122,000 after acquiring an additional 44 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Amedisys by 75.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,931 shares of the health services provider’s stock valued at $121,000 after acquiring an additional 831 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Amedisys during the 3rd quarter valued at $205,000. Amalgamated Bank bought a new stake in Amedisys during the 2nd quarter valued at $246,000. Finally, Janus Henderson Group PLC bought a new stake in Amedisys during the 2nd quarter valued at $278,000. 94.70% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Amedisys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amedisys and related companies with MarketBeat.com's FREE daily email newsletter.