Addus HomeCare (NASDAQ:ADUS) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Addus HomeCare (NASDAQ:ADUS) posted its quarterly earnings data on Monday. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03, FiscalAI reports. The business had revenue of $377.41 million during the quarter, compared to the consensus estimate of $376.24 million. Addus HomeCare had a return on equity of 10.10% and a net margin of 7.13%.The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 earnings per share.

Addus HomeCare Stock Down 2.7%

Shares of ADUS opened at $113.66 on Wednesday. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The business’s 50 day simple moving average is $102.57 and its 200-day simple moving average is $101.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.83. Addus HomeCare has a 1 year low of $87.95 and a 1 year high of $124.43.

Insider Activity

In other news, insider Heather Brianne Dixon sold 288 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $93.77, for a total transaction of $27,005.76. Following the sale, the insider directly owned 44,371 shares in the company, valued at approximately $4,160,668.67. This represents a 0.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 788 shares of company stock worth $73,506. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Addus HomeCare

Several hedge funds and other institutional investors have recently bought and sold shares of ADUS. Freestone Grove Partners LP lifted its stake in Addus HomeCare by 5,035.2% in the fourth quarter. Freestone Grove Partners LP now owns 137,932 shares of the company’s stock worth $14,813,000 after purchasing an additional 135,246 shares during the last quarter. Empowered Funds LLC lifted its holdings in Addus HomeCare by 186.1% during the fourth quarter. Empowered Funds LLC now owns 70,927 shares of the company’s stock worth $7,617,000 after buying an additional 46,137 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Addus HomeCare during the second quarter valued at about $4,838,000. Punch & Associates Investment Management Inc. boosted its holdings in shares of Addus HomeCare by 29.1% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 143,655 shares of the company’s stock valued at $16,950,000 after buying an additional 32,355 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Addus HomeCare by 5,969.5% in the third quarter. Raymond James Financial Inc. now owns 32,047 shares of the company’s stock valued at $3,781,000 after acquiring an additional 31,519 shares in the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADUS. Citizens Jmp reaffirmed a “market outperform” rating and set a $142.00 target price on shares of Addus HomeCare in a research note on Monday, May 18th. Royal Bank Of Canada reissued an “outperform” rating on shares of Addus HomeCare in a research report on Wednesday. Citigroup reiterated a “market outperform” rating on shares of Addus HomeCare in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Addus HomeCare from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Finally, Barclays raised their target price on Addus HomeCare from $92.00 to $96.00 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.50.

Addus HomeCare Company Profile

Addus HomeCare (NASDAQ: ADUS) is a leading provider of home and community-based care services for elderly, disabled, and medically complex individuals across the United States. Through a network of company-owned and franchise locations, the company delivers a broad spectrum of non-medical personal care and licensed home health services designed to support clients’ independence and quality of life.

The company’s core offerings include personal care assistance—covering daily living activities, medication reminders, and light housekeeping—and skilled home health services delivered under the supervision of registered nurses and licensed therapists.