Zacks Investment Research Upgrades Kindred Healthcare (KND) to “Buy”

Kindred Healthcare (NYSE:KND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $11.00 price target on the health services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 16.40% from the company’s current price.

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 research analysts have also weighed in on the stock. Mizuho set a $9.00 price objective on shares of Kindred Healthcare and gave the stock a “hold” rating in a research note on Monday, December 18th. Stifel Nicolaus raised 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 note on Monday, November 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $8.50 price target (up previously from $7.50) on shares of Kindred Healthcare in a research note on Thursday, November 9th. ValuEngine raised shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Bank of America cut 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 note on Thursday, September 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.31.

Kindred Healthcare (NYSE KND) opened at $9.45 on Wednesday. Kindred Healthcare has a one year low of $5.50 and a one year high of $11.90. The firm has a market cap of $821.51, a P/E ratio of -4.80 and a beta of 1.20. The company has a debt-to-equity ratio of 6.22, a quick ratio of 1.53 and a current ratio of 1.55.

Kindred Healthcare (NYSE:KND) last released its quarterly earnings data on Monday, November 6th. The health services provider reported ($0.11) earnings per share for the quarter, topping the 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 last year, the firm earned $0.05 EPS. Kindred Healthcare’s quarterly revenue was down 5.5% compared to the same quarter last year. analysts forecast that Kindred Healthcare will post 0.31 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in KND. California Public Employees Retirement System raised its holdings in shares of Kindred Healthcare by 14.6% in the third quarter. California Public Employees Retirement System now owns 751,962 shares of the health services provider’s stock valued at $5,113,000 after purchasing an additional 95,543 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Kindred Healthcare by 1,071.1% in the third quarter. Cubist Systematic Strategies LLC now owns 40,228 shares of the health services provider’s stock valued at $274,000 after purchasing an additional 36,793 shares during the last quarter. Continental Advisors LLC acquired a new stake in shares of Kindred Healthcare in the third quarter valued at approximately $306,000. Highbridge Capital Management LLC acquired a new stake in shares of Kindred Healthcare in the third quarter valued at approximately $133,000. Finally, Royce & Associates LP raised its holdings in shares of Kindred Healthcare by 8.9% in the third quarter. Royce & Associates LP now owns 1,199,050 shares of the health services provider’s stock valued at $8,154,000 after purchasing an additional 97,500 shares during the last quarter. 85.16% of the stock is currently owned by hedge funds and other institutional investors.

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About Kindred Healthcare

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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