Envestnet Asset Management Inc. increased its stake in shares of Amedisys, Inc. (NASDAQ:AMED – Get Rating) by 6.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,548 shares of the health services provider’s stock after buying an additional 9,223 shares during the quarter. Envestnet Asset Management Inc. owned about 0.44% of Amedisys worth $24,732,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Montag A & Associates Inc. purchased a new stake in Amedisys in the first quarter valued at $2,858,000. Mutual of America Capital Management LLC raised its position in Amedisys by 2.0% in the first quarter. Mutual of America Capital Management LLC now owns 29,729 shares of the health services provider’s stock valued at $5,122,000 after purchasing an additional 570 shares during the period. Signaturefd LLC raised its position in Amedisys by 295.8% in the first quarter. Signaturefd LLC now owns 376 shares of the health services provider’s stock valued at $65,000 after purchasing an additional 281 shares during the period. SG Americas Securities LLC raised its position in Amedisys by 36.8% in the first quarter. SG Americas Securities LLC now owns 9,992 shares of the health services provider’s stock valued at $1,722,000 after purchasing an additional 2,690 shares during the period. Finally, Park Avenue Securities LLC raised its position in Amedisys by 12.8% in the first quarter. Park Avenue Securities LLC now owns 6,250 shares of the health services provider’s stock valued at $1,077,000 after purchasing an additional 710 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.
Insiders Place Their Bets
In other Amedisys news, insider Denise M. Bohnert sold 557 shares of Amedisys stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $115.00, for a total transaction of $64,055.00. Following the completion of the sale, the insider now directly owns 11,850 shares of the company’s stock, valued at approximately $1,362,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by company insiders.
Amedisys Stock Up 6.7 %
Amedisys (NASDAQ:AMED – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The health services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.24. The company had revenue of $557.89 million during the quarter, compared to the consensus estimate of $583.12 million. Amedisys had a return on equity of 17.81% and a net margin of 6.33%. Amedisys’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.69 EPS. On average, analysts forecast that Amedisys, Inc. will post 5.34 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on AMED shares. Benchmark reduced their target price on Amedisys from $175.00 to $165.00 and set a “maintains” rating on the stock in a research report on Thursday, July 28th. Oppenheimer reduced their target price on Amedisys from $200.00 to $175.00 in a research report on Friday. Bank of America cut Amedisys from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $145.00 to $102.00 in a research note on Tuesday, June 21st. Raymond James dropped their price objective on Amedisys from $200.00 to $180.00 in a research note on Friday, April 29th. Finally, SVB Leerink dropped their price objective on Amedisys from $117.00 to $107.00 and set a “market perform” rating for the company in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.88.
Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, Personal Care, and High Acuity 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; rehabilitation therapists specialized in physical, speech, and occupational therapy; and social workers and aides for assisting its patients.
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