Amedisys Inc (NASDAQ:AMED) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Greater part of the last 6 months witnessed Amedisys trading below the Zacks categorized Medical-Outpnt/Hm Care industry. In fact an unimpressive third-quarter 2016 performance resulted in a slump in the share price return performance of the company. Further, CMS’ recently proposed Home Health rule in 2017 proved grossly unfavorable for Amedisys indicating gloomy scenario ahead. We note that, Amedisys ended the third quarter of 2016 with earnings and revenues in line with the respective Zacks Consensus Estimate. Also, Escalation in operating expenses and margin contractions continue to raise concern. On a positive note, in Home Health, the company witnessed strong organic growth in Medicare and non-Medicare revenues. We are also upbeat about the company’s initiative for strategically fit merger and acquisition activities. The company’s strong cash balance position further bolsters our confidence in the stock.”
Other equities research analysts have also recently issued reports about the company. Mizuho raised Amedisys from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Friday, November 4th. They noted that the move was a valuation call. Jefferies Group LLC set a $50.00 price objective on Amedisys and gave the company a “buy” rating in a research report on Friday, January 13th. Craig Hallum set a $60.00 price objective on Amedisys and gave the company a “buy” rating in a research report on Tuesday, January 17th. Finally, Benchmark Co. started coverage on Amedisys in a research report on Friday, January 27th. They issued a “hold” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Amedisys currently has a consensus rating of “Hold” and an average target price of $52.88.
Amedisys (NASDAQ:AMED) traded up 2.67% during trading on Tuesday, reaching $47.66. 119,789 shares of the company’s stock traded hands. Amedisys has a 12 month low of $34.58 and a 12 month high of $55.16. The company has a 50-day moving average of $45.07 and a 200 day moving average of $45.22. The stock has a market capitalization of $1.60 billion, a P/E ratio of 38.87 and a beta of 1.43.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC raised its position in Amedisys by 46.6% in the fourth quarter. William Blair Investment Management LLC now owns 1,509,937 shares of the company’s stock valued at $64,369,000 after buying an additional 480,150 shares in the last quarter. Trexquant Investment LP purchased a new position in Amedisys during the fourth quarter valued at about $379,000. Cortina Asset Management LLC boosted its position in Amedisys by 55.3% in the fourth quarter. Cortina Asset Management LLC now owns 329,554 shares of the company’s stock valued at $14,049,000 after buying an additional 117,393 shares in the last quarter. State Street Corp boosted its position in Amedisys by 4.0% in the fourth quarter. State Street Corp now owns 691,263 shares of the company’s stock valued at $29,472,000 after buying an additional 26,377 shares in the last quarter. Finally, Comerica Bank boosted its position in Amedisys by 5.8% in the fourth quarter. Comerica Bank now owns 29,651 shares of the company’s stock valued at $1,304,000 after buying an additional 1,613 shares in the last quarter. Hedge funds and other institutional investors own 94.88% of the company’s stock.
Amedisys Company Profile
Amedisys, Inc (Amedisys) is a provider of home health and hospice services. The Company offers home health services to the chronic, co-morbid, aging American population. The Company operates through three segments: home health, hospice and personal care. The Company’s home health segment delivers a range of services in the homes of individuals recovering from surgery, have a chronic disability or terminal illness or need assistance with completing important personal tasks.
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