Zacks Investment Research upgraded shares of Amedisys (NASDAQ:AMED) from a hold rating to a buy rating in a research report released on Friday. Zacks Investment Research currently has $61.00 price target on the health services provider’s stock.
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 research firms have also recently weighed in on AMED. Oppenheimer reaffirmed a buy rating and set a $60.00 price objective on shares of Amedisys in a research report on Friday, September 15th. Benchmark raised Amedisys from a hold rating to a buy rating and set a $56.00 price objective for the company in a research report on Thursday, November 2nd. Royal Bank of Canada reaffirmed a sector perform rating and set a $62.00 price objective (up from $56.00) on shares of Amedisys in a research report on Thursday, November 9th. William Blair reaffirmed an outperform rating on shares of Amedisys in a research report on Tuesday, November 21st. Finally, SunTrust Banks reaffirmed a buy rating and set a $60.00 price objective on shares of Amedisys in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Amedisys presently has a consensus rating of Hold and an average target price of $61.00.
Amedisys (NASDAQ:AMED) last posted its quarterly earnings data on Tuesday, November 7th. The health services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Amedisys had a return on equity of 14.68% and a net margin of 2.88%. The company had revenue of $380.20 million during the quarter, compared to analysts’ expectations of $384.59 million. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. equities analysts predict that Amedisys will post 2.24 EPS for the current year.
Hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its stake in shares of Amedisys by 23.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,572 shares of the health services provider’s stock worth $915,000 after buying an additional 2,812 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 worth $83,048,000 after buying an additional 339,825 shares in the last quarter. Castleark Management LLC purchased a new position in shares of Amedisys during the 2nd quarter worth approximately $3,674,000. Assenagon Asset Management S.A. purchased a new position in shares of Amedisys during the 3rd quarter worth approximately $1,212,000. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 worth $47,375,000 after buying an additional 82,247 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.
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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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