Addus HomeCare (NASDAQ:ADUS) Trading 6% Higher Following Earnings Beat

Shares of Addus HomeCare Co. (NASDAQ:ADUS) rose 6% on Tuesday following a better than expected earnings announcement. The stock traded as high as $109.03 and last traded at $110.61. Approximately 55,729 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 210,877 shares. The stock had previously closed at $104.37.

The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. Addus HomeCare had a net margin of 6.50% and a return on equity of 9.62%. The company had revenue of $337.71 million for the quarter, compared to analysts’ expectations of $341.66 million. During the same quarter last year, the business earned $1.21 EPS. The firm’s revenue was up 20.3% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stephens reissued an “overweight” rating and issued a $142.00 target price on shares of Addus HomeCare in a research report on Wednesday, March 12th. StockNews.com cut shares of Addus HomeCare from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Oppenheimer increased their target price on shares of Addus HomeCare from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and set a $150.00 target price on shares of Addus HomeCare in a report on Tuesday, April 22nd. Finally, Macquarie reaffirmed an “outperform” rating and set a $129.00 price target on shares of Addus HomeCare in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $139.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADUS. Capital Research Global Investors acquired a new position in Addus HomeCare during the 4th quarter worth about $51,149,000. American Century Companies Inc. raised its holdings in shares of Addus HomeCare by 695.8% in the 4th quarter. American Century Companies Inc. now owns 284,346 shares of the company’s stock valued at $35,643,000 after purchasing an additional 248,613 shares during the period. GAMMA Investing LLC lifted its holdings in Addus HomeCare by 10,307.8% during the 1st quarter. GAMMA Investing LLC now owns 130,930 shares of the company’s stock worth $12,948,000 after purchasing an additional 129,672 shares during the last quarter. Bank of America Corp DE increased its holdings in Addus HomeCare by 273.6% in the 4th quarter. Bank of America Corp DE now owns 175,070 shares of the company’s stock valued at $21,945,000 after buying an additional 128,211 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Addus HomeCare by 1,229.4% in the 1st quarter. Allianz Asset Management GmbH now owns 100,898 shares of the company’s stock valued at $9,978,000 after buying an additional 93,308 shares in the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Addus HomeCare Trading Up 5.6 %

The company’s 50-day moving average is $97.64 and its 200-day moving average is $114.80. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 1.41 and a beta of 0.85.

About Addus HomeCare

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.