Amedisys (AMED) Lowered to “Hold” at Zacks Investment Research

Amedisys (NASDAQ:AMED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

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.”

Other analysts have also issued reports about the stock. SunTrust Banks restated a “buy” rating and set a $70.00 target price on shares of Amedisys in a research note on Friday, November 10th. Craig Hallum restated a “buy” rating and set a $68.00 target price (up from $55.00) on shares of Amedisys in a research note on Thursday, November 9th. Jefferies Group restated a “buy” rating and set a $60.00 target price on shares of Amedisys in a research note on Thursday, October 12th. Mizuho restated a “buy” rating and set a $65.00 target price (up from $55.00) on shares of Amedisys in a research note on Wednesday, November 8th. Finally, Benchmark upgraded shares of Amedisys from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $61.00.

Amedisys (NASDAQ:AMED) traded down $0.95 during mid-day trading on Friday, hitting $54.79. 261,200 shares of the company were exchanged, compared to its average volume of 370,833. 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 $43.48 and a 12-month high of $65.91. The stock has a market capitalization of $1,891.63, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 1.19 and a beta of 0.71.

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

Several hedge funds have recently bought and sold shares of AMED. Point72 Asset Management L.P. boosted its holdings in shares of Amedisys by 337.0% in the third quarter. Point72 Asset Management L.P. now owns 474,044 shares of the health services provider’s stock valued at $26,528,000 after acquiring an additional 674,044 shares during the period. American Century Companies Inc. boosted its holdings in shares of Amedisys by 41.4% in the third quarter. American Century Companies Inc. now owns 1,671,680 shares of the health services provider’s stock valued at $93,547,000 after acquiring an additional 489,220 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Amedisys by 29.7% in the third quarter. Wells Fargo & Company MN now owns 1,484,041 shares of the health services provider’s stock valued at $83,048,000 after acquiring an additional 339,825 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Amedisys in the second quarter valued at approximately $7,736,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Amedisys by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 846,575 shares of the health services provider’s stock valued at $47,375,000 after acquiring an additional 82,247 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

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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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