Amedisys (AMED) Stock Rating Upgraded by Zacks Investment Research

Amedisys (NASDAQ:AMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $57.00 target price on the health services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 4.49% 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.”

Several other equities analysts have also commented on the stock. BidaskClub lowered shares of Amedisys from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 11th. William Blair reaffirmed an “outperform” rating on shares of Amedisys in a research report on Tuesday, November 21st. SunTrust Banks reaffirmed a “buy” rating and set a $70.00 price target on shares of Amedisys in a research report on Friday, November 10th. Robert W. Baird upped their price target on shares of Amedisys from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $68.00 price target (up previously from $55.00) on shares of Amedisys in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Amedisys has an average rating of “Hold” and an average price target of $60.64.

Shares of Amedisys (AMED) traded up $3.87 during mid-day trading on Tuesday, reaching $54.55. 789,578 shares of the company traded hands, compared to its average volume of 340,327. Amedisys has a 1 year low of $45.18 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. The firm has a market capitalization of $1,790.00, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.73.

Several institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its holdings in Amedisys by 337.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 474,044 shares of the health services provider’s stock valued at $26,528,000 after purchasing an additional 674,044 shares in the last quarter. American Century Companies Inc. grew its holdings in Amedisys by 41.4% during the 3rd quarter. American Century Companies Inc. now owns 1,671,680 shares of the health services provider’s stock valued at $93,547,000 after purchasing an additional 489,220 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Amedisys by 29.7% during 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 purchasing an additional 339,825 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Amedisys by 10.8% during 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 purchasing an additional 82,247 shares in the last quarter. Finally, DnB Asset Management AS acquired a new stake in Amedisys during the 4th quarter valued at $3,722,000. 94.97% of the stock is owned by institutional investors.

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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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