Equities Analysts Set Expectations for Amedisys, Inc.’s FY2024 Earnings (NASDAQ:AMED)

Amedisys, Inc. (NASDAQ:AMED) – Research analysts at William Blair raised their FY2024 earnings estimates for shares of Amedisys in a research note issued on Thursday, April 25th. William Blair analyst M. Larew now forecasts that the health services provider will post earnings per share of $4.54 for the year, up from their prior forecast of $4.37. The consensus estimate for Amedisys’ current full-year earnings is $4.58 per share.

Amedisys (NASDAQ:AMED) last released its quarterly earnings data on Wednesday, April 24th. The health services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.02 by $0.01. Amedisys had a positive return on equity of 12.85% and a negative net margin of 0.91%. The firm had revenue of $571.41 million for the quarter, compared to the consensus estimate of $565.38 million. During the same quarter in the previous year, the business earned $1.00 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis.

Several other equities research analysts have also recently weighed in on AMED. StockNews.com cut shares of Amedisys from a “buy” rating to a “hold” rating in a research report on Friday. Cantor Fitzgerald reissued a “neutral” rating and issued a $101.00 target price on shares of Amedisys in a research note on Thursday, April 25th. Raymond James restated a “market perform” rating on shares of Amedisys in a report on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their price objective on Amedisys from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.50.

Amedisys Stock Performance

NASDAQ:AMED opened at $91.84 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.09 and a current ratio of 1.09. Amedisys has a fifty-two week low of $73.10 and a fifty-two week high of $96.44. The firm has a market cap of $3.00 billion, a PE ratio of -143.50, a price-to-earnings-growth ratio of 3.41 and a beta of 0.86. The business has a 50 day moving average price of $92.51 and a 200-day moving average price of $93.35.

Institutional Trading of Amedisys

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in Amedisys during the first quarter worth about $60,000. Cetera Trust Company N.A bought a new position in shares of Amedisys during the fourth quarter valued at approximately $215,000. CWM LLC lifted its holdings in shares of Amedisys by 40.4% during the fourth quarter. CWM LLC now owns 2,629 shares of the health services provider’s stock valued at $250,000 after purchasing an additional 757 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Amedisys in the 4th quarter worth approximately $258,000. Finally, Mesirow Institutional Investment Management Inc. grew its stake in shares of Amedisys by 9.9% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 2,844 shares of the health services provider’s stock worth $270,000 after buying an additional 257 shares during the last quarter. 94.36% of the stock is owned by hedge funds and other institutional investors.

About Amedisys

Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, 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; nursing services, rehabilitation therapists specialized in physical, speech, and occupational therapy; and social workers and aides for assisting its patients.