Amedisys (NASDAQ:AMED) Sets New 1-Year High - Here's Why

Key Points

• Amedisys, Inc. (NASDAQ:AMED) achieved a new 52-week high of $101.01 during trading, closing at $100.96 with a volume of 308,136 shares.
• The company's recent earnings report showed $1.54 earnings per share, exceeding estimates, and a revenue of $621.86 million, marking a 5.2% increase from the previous year.
• Institutional investors hold a significant stake in Amedisys, with ownership increasing to 94.36% of the company, highlighting strong institutional confidence in its performance.

Amedisys, Inc. (NASDAQ:AMED - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $101.01 and last traded at $100.96, with a volume of 308136 shares. The stock had previously closed at $100.94.

Analyst Ratings Changes

AMED has been the subject of a number of research reports. Wall Street Zen downgraded shares of Amedisys from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of Amedisys in a report on Wednesday, April 16th.

Amedisys Stock Up 0.0%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 1.35 and a beta of 0.89. The firm's 50-day simple moving average is $97.35 and its two-hundred day simple moving average is $94.46.

Amedisys (NASDAQ:AMED - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The health services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.15. The firm had revenue of $621.86 million during 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 company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. On average, sell-side analysts expect that Amedisys, Inc. will post 4.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allworth Financial LP grew its holdings in Amedisys by 155.8% during the second quarter. Allworth Financial LP now owns 289 shares of the health services provider's stock valued at $28,000 after purchasing an additional 176 shares during the period. Hexagon Capital Partners LLC grew its holdings in Amedisys by 108.1% during the first quarter. Hexagon Capital Partners LLC now owns 310 shares of the health services provider's stock valued at $29,000 after purchasing an additional 161 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Amedisys by 56.1% during 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 grew its holdings in Amedisys by 68.1% during 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. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Amedisys during the second quarter valued at approximately $32,000. Institutional investors own 94.36% of the company's stock.

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.

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