Kindred Healthcare (KND) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Kindred Healthcare (NYSE:KND) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Kindred Healthcare, Inc., a top-105 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $6.1 billion(1). Kindred’s continuing operations, through its subsidiaries, had approximately 86,400 employees providing healthcare services in 2,475 locations in 45 states, including 77 long-term acute care hospitals, 19 inpatient rehabilitation hospitals, 16 sub-acute units, 609 Kindred at Home home health, hospice and non-medical home care sites of service, 101 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,653 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for eight years, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder they serve. “

Several other equities research analysts have also weighed in on the stock. Mizuho set a $9.00 target price on shares of Kindred Healthcare and gave the stock a hold rating in a report on Monday, December 18th. Stifel Nicolaus upgraded shares of Kindred Healthcare from a sell rating to a hold rating and set a $7.00 price target on the stock in a research report on Monday, November 20th. Royal Bank of Canada reiterated a sector perform rating and set a $8.50 price target (up previously from $7.50) on shares of Kindred Healthcare in a research report on Thursday, November 9th. ValuEngine upgraded shares of Kindred Healthcare from a sell rating to a hold rating in a research report on Thursday, November 9th. Finally, Bank of America reduced their price target on shares of Kindred Healthcare from $7.50 to $6.50 and set an underperform rating on the stock in a research report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $9.31.

Kindred Healthcare (NYSE KND) traded down $0.25 on Wednesday, hitting $9.15. 1,393,778 shares of the stock traded hands, compared to its average volume of 1,091,471. The company has a current ratio of 1.55, a quick ratio of 1.53 and a debt-to-equity ratio of 6.22. Kindred Healthcare has a fifty-two week low of $5.50 and a fifty-two week high of $11.90. The company has a market cap of $859.79, a price-to-earnings ratio of -1.52 and a beta of 1.20.

Kindred Healthcare (NYSE:KND) last posted its earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. sell-side analysts predict that Kindred Healthcare will post 0.31 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of KND. Schwab Charles Investment Management Inc. lifted its position in Kindred Healthcare by 23.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,129,938 shares of the health services provider’s stock worth $13,164,000 after buying an additional 217,196 shares in the last quarter. Principal Financial Group Inc. lifted its position in Kindred Healthcare by 1.6% during the 2nd quarter. Principal Financial Group Inc. now owns 696,172 shares of the health services provider’s stock worth $8,111,000 after buying an additional 11,286 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Kindred Healthcare by 149.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,104,618 shares of the health services provider’s stock worth $24,518,000 after buying an additional 1,260,753 shares in the last quarter. Martingale Asset Management L P acquired a new position in Kindred Healthcare during the 2nd quarter worth about $317,000. Finally, Teachers Advisors LLC lifted its position in Kindred Healthcare by 8.1% during the 2nd quarter. Teachers Advisors LLC now owns 162,452 shares of the health services provider’s stock worth $1,893,000 after buying an additional 12,132 shares in the last quarter. Institutional investors and hedge funds own 85.16% of the company’s stock.

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Kindred Healthcare Company Profile

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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