Amedisys (NASDAQ:AMED) Reaches New 12-Month High on Strong Earnings

Key Points

• Amedisys, Inc. shares reached a new 52-week high of $98.77 after reporting quarterly earnings of $1.54 EPS, exceeding the consensus estimate by $0.15.
• The company's quarterly revenue was $621.86 million, an increase of 5.2% compared to the same quarter last year, surpassing analyst expectations.
• Despite positive performance, Wall Street analysts have downgraded Amedisys from a "strong-buy" to a "buy" rating, with Royal Bank of Canada setting a target price of $100.00.

Amedisys, Inc. (NASDAQ:AMED - Get Free Report) shares reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $98.77 and last traded at $98.69, with a volume of 1032664 shares. The stock had previously closed at $97.52.

The health services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.15. The company had revenue of $621.86 million for the quarter, compared to the consensus estimate of $614.61 million. Amedisys had a return on equity of 12.91% and a net margin of 3.56%. The company's revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMED. Wall Street Zen cut shares of Amedisys from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Royal Bank Of Canada reiterated an "outperform" rating and set a $100.00 price target on shares of Amedisys in a research note on Wednesday, April 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its position in shares of Amedisys by 108.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 310 shares of the health services provider's stock worth $29,000 after purchasing an additional 161 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Amedisys by 56.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 334 shares of the health services provider's stock valued at $31,000 after purchasing an additional 120 shares during the period. Fifth Third Bancorp lifted its stake in shares of Amedisys by 68.1% in the first quarter. Fifth Third Bancorp now owns 348 shares of the health services provider's stock valued at $32,000 after purchasing an additional 141 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Amedisys during the second quarter worth about $32,000. Finally, UMB Bank n.a. grew its position in Amedisys by 100.0% during the first quarter. UMB Bank n.a. now owns 386 shares of the health services provider's stock worth $36,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 94.36% of the company's stock.

Amedisys Stock Performance

The stock's fifty day simple moving average is $96.75 and its 200-day simple moving average is $94.17. The company has a quick ratio of 1.29, a current ratio of 1.36 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.24 billion, a PE ratio of 38.33, a PEG ratio of 1.33 and a beta of 0.89.

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.