Amedisys (NASDAQ:AMED) Reaches New 1-Year High Following Earnings Beat

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)'s share price reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. 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 EPS for the quarter, topping the consensus estimate of $1.39 by $0.15. The company had revenue of $621.86 million for the quarter, compared to analysts' expectations of $614.61 million. Amedisys had a net margin of 3.56% and a return on equity of 12.91%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank Of Canada restated an "outperform" rating and set a $100.00 target price on shares of Amedisys in a research note on Wednesday, April 16th. Wall Street Zen downgraded Amedisys from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th.

Institutional Investors Weigh In On Amedisys

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Amedisys by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 3,216,120 shares of the health services provider's stock worth $291,992,000 after buying an additional 10,817 shares during the last quarter. Pentwater Capital Management LP increased its position in shares of Amedisys by 14.0% during the first quarter. Pentwater Capital Management LP now owns 1,345,000 shares of the health services provider's stock worth $124,587,000 after acquiring an additional 165,000 shares in the last quarter. Alpine Associates Management Inc. raised its holdings in shares of Amedisys by 11.7% in the 1st quarter. Alpine Associates Management Inc. now owns 992,120 shares of the health services provider's stock worth $91,900,000 after acquiring an additional 104,000 shares during the last quarter. TIG Advisors LLC lifted its position in Amedisys by 14.5% in the 1st quarter. TIG Advisors LLC now owns 836,417 shares of the health services provider's stock valued at $77,477,000 after acquiring an additional 106,002 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Amedisys by 13.2% during the 1st quarter. Alliancebernstein L.P. now owns 767,054 shares of the health services provider's stock valued at $71,052,000 after purchasing an additional 89,267 shares during the last quarter. Institutional investors own 94.36% of the company's stock.

Amedisys Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.36. The business has a 50 day simple moving average of $96.75 and a 200-day simple moving average of $94.18. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 38.33, a P/E/G 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.