Zacks Investment Research Lowers Addus Homecare (NASDAQ:ADUS) to Hold

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Zacks Investment Research lowered shares of Addus Homecare (NASDAQ:ADUS) from a strong-buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “ADDUS HOMECARE is a comprehensive provider of a broad range of social and medical services in the home. The company’s services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Its consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Its payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus operates its business through two divisions, home & community services and home health services. The home & community services are social, or non-medical, in nature and include assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living whereas the home health services are medical in nature and include physical, occupational and speech therapy, as well as skilled nursing. “

Several other research firms have also recently weighed in on ADUS. Oppenheimer increased their price objective on Addus Homecare from $80.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, August 7th. Sidoti increased their price objective on Addus Homecare from $84.00 to $96.00 and gave the company a buy rating in a research report on Tuesday, August 6th. Raymond James set a $92.00 price objective on Addus Homecare and gave the company an outperform rating in a research report on Wednesday, August 7th. BMO Capital Markets set a $85.00 price objective on Addus Homecare and gave the company a hold rating in a research report on Wednesday, August 7th. Finally, BidaskClub raised Addus Homecare from a hold rating to a buy rating in a research report on Saturday, July 27th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $83.44.

ADUS opened at $86.70 on Tuesday. Addus Homecare has a 1-year low of $56.75 and a 1-year high of $87.78. The company has a current ratio of 2.84, a quick ratio of 2.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 46.51, a P/E/G ratio of 2.56 and a beta of -0.10. The business has a 50 day moving average of $78.79 and a 200-day moving average of $70.13.

Addus Homecare (NASDAQ:ADUS) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Addus Homecare had a return on equity of 8.55% and a net margin of 3.31%. The company had revenue of $149.69 million during the quarter, compared to analysts’ expectations of $146.66 million. Equities analysts predict that Addus Homecare will post 2.01 EPS for the current year.

In related news, Director Mark L. First sold 440,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $74.08, for a total value of $32,595,200.00. Following the completion of the transaction, the director now directly owns 19,151 shares in the company, valued at $1,418,706.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider W Bradley Bickham sold 15,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $80.67, for a total value of $1,210,050.00. Following the completion of the transaction, the insider now owns 38,311 shares of the company’s stock, valued at $3,090,548.37. The disclosure for this sale can be found here. Corporate insiders own 20.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ADUS. Geode Capital Management LLC increased its position in shares of Addus Homecare by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 111,819 shares of the company’s stock valued at $7,590,000 after purchasing an additional 7,384 shares during the last quarter. Bank of America Corp DE increased its position in shares of Addus Homecare by 547.0% in the 4th quarter. Bank of America Corp DE now owns 21,928 shares of the company’s stock valued at $1,490,000 after purchasing an additional 18,539 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Addus Homecare in the 4th quarter valued at approximately $193,000. Jane Street Group LLC increased its position in shares of Addus Homecare by 12.1% in the 4th quarter. Jane Street Group LLC now owns 4,014 shares of the company’s stock valued at $272,000 after purchasing an additional 434 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Addus Homecare by 1,402.5% in the 4th quarter. Legal & General Group Plc now owns 21,456 shares of the company’s stock valued at $1,452,000 after purchasing an additional 20,028 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Addus Homecare Company Profile

Addus HomeCare Corporation provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. It operates in three segments: Personal Care, Hospice, and Home Health. The Personal Care segment provides non-medical assistance with activities of daily living.

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