Kindred Healthcare (NYSE:KND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $11.00 price target on the health services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 18.92% from the company’s previous close.
According to Zacks, “Kindred Healthcare, Inc., a top-105 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $6.1 billion(1). Kindred’s continuing operations, through its subsidiaries, had approximately 86,400 employees providing healthcare services in 2,475 locations in 45 states, including 77 long-term acute care hospitals, 19 inpatient rehabilitation hospitals, 16 sub-acute units, 609 Kindred at Home home health, hospice and non-medical home care sites of service, 101 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,653 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for eight years, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder they serve. “
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus raised Kindred Healthcare from a “sell” rating to a “hold” rating and set a $7.00 price target for the company in a research report on Monday, November 20th. Deutsche Bank reaffirmed a “hold” rating and set a $9.00 price target (down previously from $10.00) on shares of Kindred Healthcare in a research report on Monday, September 18th. Mizuho reaffirmed a “neutral” rating and set a $7.50 price target (down previously from $8.00) on shares of Kindred Healthcare in a research report on Tuesday, October 10th. ValuEngine raised Kindred Healthcare from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Royal Bank of Canada reduced their price target on Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating for the company in a research report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.31.
Kindred Healthcare (KND) remained flat at $$9.25 during midday trading on Wednesday. The company had a trading volume of 532,985 shares, compared to its average volume of 2,701,676. Kindred Healthcare has a fifty-two week low of $5.50 and a fifty-two week high of $11.90. The company has a current ratio of 1.55, a quick ratio of 1.53 and a debt-to-equity ratio of 6.22. The firm has a market capitalization of $846.07, a P/E ratio of 46.25 and a beta of 1.20.
Kindred Healthcare (NYSE:KND) last posted its earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.08. Kindred Healthcare had a positive return on equity of 2.29% and a negative net margin of 8.06%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the business earned $0.05 EPS. Kindred Healthcare’s revenue for the quarter was down 5.5% compared to the same quarter last year. analysts anticipate that Kindred Healthcare will post 0.31 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new position in Kindred Healthcare during the 2nd quarter worth approximately $130,000. Highbridge Capital Management LLC acquired a new stake in shares of Kindred Healthcare in the 3rd quarter valued at approximately $133,000. Amalgamated Bank boosted its holdings in shares of Kindred Healthcare by 0.9% in the 2nd quarter. Amalgamated Bank now owns 11,518 shares of the health services provider’s stock valued at $134,000 after buying an additional 108 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Kindred Healthcare in the 3rd quarter valued at approximately $208,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Kindred Healthcare in the 2nd quarter valued at approximately $216,000. 85.16% of the stock is owned by hedge funds and other institutional investors.
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About Kindred Healthcare
Kindred Healthcare, Inc, incorporated on March 27, 1998, is a healthcare services company. The Company, through its subsidiaries, operates transitional care (TC) hospitals, a home health, hospice and community care business, inpatient rehabilitation hospitals (IRFs), a contract rehabilitation services business, nursing centers and assisted living facilities across the United States.
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