Amedisys (AMED) Trading Up 14.2% After Strong Earnings

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Shares of Amedisys Inc (NASDAQ:AMED) were up 14.2% during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $116.47 and last traded at $115.18. Approximately 1,280,800 shares changed hands during trading, an increase of 291% from the average daily volume of 327,923 shares. The stock had previously closed at $100.89.

The health services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.18. The firm had revenue of $417.34 million for the quarter, compared to the consensus estimate of $411.05 million. Amedisys had a net margin of 5.39% and a return on equity of 22.72%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share.

A number of equities research analysts have issued reports on AMED shares. Royal Bank of Canada increased their price objective on shares of Amedisys to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 3rd. Bank of America set a $139.00 target price on shares of Amedisys and gave the stock a “buy” rating in a report on Tuesday, September 18th. Cantor Fitzgerald assumed coverage on shares of Amedisys in a report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 target price for the company. BidaskClub cut shares of Amedisys from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 16th. Finally, Robert W. Baird increased their target price on shares of Amedisys from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, October 11th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Amedisys has a consensus rating of “Buy” and an average target price of $102.38.

In other news, insider David B. Pearce sold 398 shares of the stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $121.71, for a total value of $48,440.58. Following the completion of the transaction, the insider now owns 11,818 shares of the company’s stock, valued at $1,438,368.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aperio Group LLC raised its holdings in Amedisys by 2.7% in the 3rd quarter. Aperio Group LLC now owns 18,559 shares of the health services provider’s stock valued at $2,319,000 after buying an additional 480 shares during the last quarter. Amalgamated Bank raised its holdings in Amedisys by 13.7% in the 2nd quarter. Amalgamated Bank now owns 4,667 shares of the health services provider’s stock valued at $399,000 after buying an additional 563 shares during the last quarter. Piedmont Investment Advisors LLC raised its holdings in Amedisys by 9.3% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 6,668 shares of the health services provider’s stock valued at $570,000 after buying an additional 567 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Amedisys by 6.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 9,282 shares of the health services provider’s stock valued at $793,000 after buying an additional 596 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its holdings in Amedisys by 14.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,851 shares of the health services provider’s stock valued at $415,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

The firm has a market cap of $3.13 billion, a PE ratio of 49.77, a P/E/G ratio of 1.54 and a beta of 1.00. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30.

Amedisys Company Profile (NASDAQ:AMED)

Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, and Personal Care. The Home Health segment offers a range of services in the homes of individuals for the recovery of patients from surgery, chronic disability, or terminal illness, as well as prevents avoidable hospital readmissions through its skilled nurses, physical and speech therapists, occupational therapists, and aides for its patients to complete their important personal tasks.

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