Amedisys (AMED) Lowered to “Hold” at Zacks Investment Research

Amedisys (NASDAQ:AMED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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 equities research analysts also recently commented 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 report on Thursday, November 2nd. William Blair reissued an “outperform” rating on shares of Amedisys in a report on Tuesday, November 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Amedisys in a report on Thursday, November 9th. SunTrust Banks reissued a “buy” rating and issued a $60.00 target price on shares of Amedisys in a report on Monday, October 9th. Finally, Craig Hallum reissued a “buy” rating and issued a $68.00 target price (up previously from $55.00) on shares of Amedisys in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Amedisys currently has a consensus rating of “Hold” and an average price target of $61.00.

Shares of Amedisys (NASDAQ AMED) traded down $0.95 during midday trading on Friday, hitting $54.79. The company had a trading volume of 261,200 shares, compared to its average volume of 370,833. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.16. Amedisys has a 52-week low of $43.48 and a 52-week high of $65.91. The firm has a market capitalization of $1,891.63, a P/E ratio of 43.83, a PEG ratio of 1.19 and a beta of 0.71.

Amedisys (NASDAQ:AMED) last issued its quarterly earnings results 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 firm 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 company earned $0.36 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. research analysts expect that Amedisys will post 2.24 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Amedisys by 0.7% in the second quarter. Vanguard Group Inc. now owns 2,386,046 shares of the health services provider’s stock valued at $149,867,000 after buying an additional 16,368 shares in the last quarter. American Century Companies Inc. increased its position in shares of Amedisys by 41.4% in the third quarter. American Century Companies Inc. now owns 1,671,680 shares of the health services provider’s stock valued at $93,547,000 after buying an additional 489,220 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Amedisys by 29.7% in the third 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. Dimensional Fund Advisors LP increased its position in shares of Amedisys by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,184,424 shares of the health services provider’s stock valued at $66,280,000 after buying an additional 59,481 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Amedisys by 10.8% in the third 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. Institutional investors and hedge funds 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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