Amedisys (NASDAQ:AMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, February 6th. The brokerage presently has a $57.00 target price on the health services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 2.26% 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.”
A number of other equities analysts have also recently issued reports on the stock. Jefferies Group restated a “buy” rating and set a $60.00 target price on shares of Amedisys in a research report on Thursday, October 12th. SunTrust Banks reiterated a “buy” rating and set a $60.00 price target on shares of Amedisys in a report on Monday, October 9th. Craig Hallum reiterated a “buy” rating and set a $68.00 price target (up from $55.00) on shares of Amedisys in a report on Thursday, November 9th. Mizuho restated a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Amedisys in a report on Wednesday, November 8th. Finally, Benchmark upgraded shares of Amedisys from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $60.64.
Shares of Amedisys (NASDAQ AMED) traded down $0.31 during midday trading on Tuesday, hitting $55.74. 243,500 shares of the company traded hands, compared to its average volume of 336,791. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.33 and a quick ratio of 1.33. Amedisys has a 12-month low of $45.60 and a 12-month high of $65.91. The firm has a market capitalization of $1,902.15, a PE ratio of 44.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73.
Several institutional investors have recently added to or reduced their stakes in AMED. Point72 Asset Management L.P. grew its position in shares of Amedisys by 337.0% during the third quarter. Point72 Asset Management L.P. now owns 474,044 shares of the health services provider’s stock worth $26,528,000 after acquiring an additional 674,044 shares during the last quarter. American Century Companies Inc. grew its position in Amedisys by 41.4% in the 3rd quarter. American Century Companies Inc. now owns 1,671,680 shares of the health services provider’s stock valued at $93,547,000 after buying an additional 489,220 shares in the last quarter. Millennium Management LLC grew its position in Amedisys by 58.2% in the 4th quarter. Millennium Management LLC now owns 1,048,423 shares of the health services provider’s stock valued at $55,262,000 after buying an additional 385,734 shares in the last quarter. Wells Fargo & Company MN grew its position in Amedisys by 29.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,484,041 shares of the health services provider’s stock valued at $83,048,000 after buying an additional 339,825 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in Amedisys in the 4th quarter valued at about $8,417,000. Institutional investors and hedge funds own 93.73% of the company’s stock.
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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.
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