Zacks Investment Research Downgrades Addus HomeCare (NASDAQ:ADUS) to Sell

Addus HomeCare (NASDAQ:ADUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “ADDUS HOMECARE is a comprehensive provider of a broad range of social and medical services in the home. The company’s services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Its consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Its payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus operates its business through two divisions, home & community services and home health services. The home & community services are social, or non-medical, in nature and include assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living whereas the home health services are medical in nature and include physical, occupational and speech therapy, as well as skilled nursing. “

Shares of ADUS stock traded up $2.29 during trading hours on Thursday, reaching $105.27. 3,367 shares of the stock were exchanged, compared to its average volume of 94,316. The business’s fifty day moving average is $107.16 and its two-hundred day moving average is $107.79. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.12. Addus HomeCare has a 12-month low of $72.72 and a 12-month high of $129.01.

Addus HomeCare (NASDAQ:ADUS) last announced its quarterly earnings results on Friday, February 26th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.13. The company had revenue of $196.00 million for the quarter, compared to analyst estimates of $199.28 million. Addus HomeCare had a net margin of 4.65% and a return on equity of 8.90%. On average, equities research analysts anticipate that Addus HomeCare will post 2.74 EPS for the current fiscal year.

In other news, COO W Bradley Bickham sold 1,041 shares of the firm’s stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $121.57, for a total transaction of $126,554.37. Following the transaction, the chief operating officer now directly owns 27,927 shares in the company, valued at $3,395,085.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laurie Manning sold 1,035 shares of the firm’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $102.00, for a total transaction of $105,570.00. Over the last 90 days, insiders have sold 11,756 shares of company stock worth $1,220,955. Insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ADUS. BlackRock Inc. lifted its holdings in shares of Addus HomeCare by 6.5% during the fourth quarter. BlackRock Inc. now owns 2,345,191 shares of the company’s stock worth $274,596,000 after purchasing an additional 142,291 shares during the period. Polar Capital LLP increased its position in shares of Addus HomeCare by 42.1% in the third quarter. Polar Capital LLP now owns 416,943 shares of the company’s stock valued at $39,405,000 after buying an additional 123,455 shares in the last quarter. Morgan Stanley increased its position in shares of Addus HomeCare by 126.5% in the fourth quarter. Morgan Stanley now owns 86,374 shares of the company’s stock valued at $10,114,000 after buying an additional 48,244 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Addus HomeCare in the third quarter valued at $3,841,000. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Addus HomeCare by 34.1% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 127,819 shares of the company’s stock valued at $14,966,000 after buying an additional 32,502 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Addus HomeCare

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. It operates through three segments: Personal Care, Hospice, and Home Health.

Featured Story: How a Back-End Load Mutual Fund Works

Get a free copy of the Zacks research report on Addus HomeCare (ADUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Addus HomeCare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Addus HomeCare and related companies with MarketBeat.com's FREE daily email newsletter.