Amedisys (NASDAQ:AMED) Sets New 12-Month High - Here's Why

Key Points

• Amedisys (NASDAQ:AMED) reached a new 52-week high of $99.68 during trading, with a closing price of $99.46.
• Equities analysts have set a new price target of $100.00 for Amedisys, while the company reported a 5.2% year-over-year revenue increase.
• Institutional investors now own 94.36% of Amedisys shares, indicating strong interest from hedge funds and large investment portfolios.

Amedisys, Inc. (NASDAQ:AMED - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $99.68 and last traded at $99.46, with a volume of 748616 shares trading hands. The stock had previously closed at $98.50.

Analysts Set New Price Targets

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

Amedisys Stock Performance

The firm has a market capitalization of $3.27 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The stock has a 50-day moving average of $96.86 and a 200 day moving average of $94.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.36.

Amedisys (NASDAQ:AMED - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The health services provider reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. On average, research analysts anticipate that Amedisys, Inc. will post 4.4 earnings per share for the current year.

Hedge Funds Weigh In On Amedisys

A number of hedge funds and other institutional investors have recently bought and sold shares of AMED. Hexagon Capital Partners LLC raised its position 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew 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 worth $31,000 after purchasing an additional 120 shares during the last quarter. Fifth Third Bancorp grew 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 worth $32,000 after purchasing an additional 141 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Amedisys in the second quarter worth $32,000. Finally, UMB Bank n.a. grew its stake in shares of Amedisys by 100.0% in the first quarter. UMB Bank n.a. now owns 386 shares of the health services provider's stock worth $36,000 after purchasing an additional 193 shares during the last quarter. 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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