Zacks Investment Research Upgrades Amedisys (AMED) to “Buy”

Amedisys (NASDAQ:AMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $61.00 target price on the health services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.40% from the company’s previous close.

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.”

AMED has been the subject of several other research reports. BidaskClub downgraded shares of Amedisys from a “sell” rating to a “strong sell” rating in a report on Thursday. Benchmark reaffirmed a “hold” rating on shares of Amedisys in a report on Thursday, November 9th. Robert W. Baird reaffirmed a “hold” rating and set a $50.00 target price on shares of Amedisys in a report on Wednesday, October 4th. Mizuho reaffirmed a “buy” rating and set a $65.00 target price (up previously from $55.00) on shares of Amedisys in a report on Wednesday, November 8th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $70.00 target price on shares of Amedisys in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $61.00.

Shares of Amedisys (AMED) opened at $54.76 on Friday. The company has a market cap of $1,858.39, a PE ratio of 43.81, a P/E/G ratio of 1.17 and a beta of 0.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.33 and a current ratio of 1.33. Amedisys has a twelve month low of $43.07 and a twelve month high of $65.91.

Amedisys (NASDAQ:AMED) last announced its earnings results on Tuesday, November 7th. The health services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $380.20 million during the quarter, compared to the consensus estimate of $384.59 million. Amedisys had a net margin of 2.88% and a return on equity of 14.68%. Amedisys’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. analysts forecast that Amedisys will post 2.24 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC boosted its holdings in Amedisys by 75.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,931 shares of the health services provider’s stock valued at $121,000 after purchasing an additional 831 shares during the period. Federated Investors Inc. PA boosted its holdings in Amedisys by 2.3% in the 2nd quarter. Federated Investors Inc. PA now owns 1,929 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 44 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Amedisys in the 3rd quarter valued at about $205,000. SG Americas Securities LLC boosted its holdings in Amedisys by 48.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,743 shares of the health services provider’s stock valued at $235,000 after purchasing an additional 1,226 shares during the period. Finally, Amalgamated Bank bought a new stake in Amedisys in the 2nd quarter valued at about $246,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

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About Amedisys

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.

Analyst Recommendations for Amedisys (NASDAQ:AMED)

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