Invesco Ltd. Buys 68,585 Shares of Addus HomeCare Corporation $ADUS

Key Points

• Invesco Ltd. increased its stake in Addus HomeCare Corporation by 19.8% in the first quarter, owning 414,705 shares valued at approximately $41 million.
• Addus HomeCare reported a quarterly EPS of $1.49, beating analysts' expectations, with revenues of $349.44 million, reflecting a year-over-year increase of 21.8%.
• The stock has a consensus rating of "Buy" among analysts, with an average price target of $142.86, following positive ratings from several brokerages.

Invesco Ltd. lifted its stake in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 19.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,705 shares of the company's stock after acquiring an additional 68,585 shares during the period. Invesco Ltd. owned approximately 2.25% of Addus HomeCare worth $41,010,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Addus HomeCare by 57.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,598 shares of the company's stock worth $2,136,000 after acquiring an additional 7,903 shares during the period. Cynosure Group LLC raised its position in shares of Addus HomeCare by 491.3% in the first quarter. Cynosure Group LLC now owns 14,415 shares of the company's stock worth $1,425,000 after buying an additional 11,977 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Addus HomeCare in the first quarter worth $301,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Addus HomeCare in the first quarter worth $1,067,000. Finally, Vestcor Inc raised its position in shares of Addus HomeCare by 156.1% in the first quarter. Vestcor Inc now owns 10,629 shares of the company's stock worth $1,051,000 after buying an additional 6,479 shares in the last quarter. 95.35% of the stock is owned by institutional investors.

Addus HomeCare Trading Up 3.2%

Shares of ADUS traded up $3.7050 during trading hours on Friday, hitting $117.8850. The company had a trading volume of 68,437 shares, compared to its average volume of 191,469. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.17 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.75 and a beta of 0.80. Addus HomeCare Corporation has a 52-week low of $88.96 and a 52-week high of $136.72. The stock's 50 day moving average price is $111.86 and its 200 day moving average price is $107.13.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $349.44 million for the quarter, compared to analysts' expectations of $345.71 million. Addus HomeCare had a return on equity of 9.39% and a net margin of 6.51%.Addus HomeCare's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $1.35 earnings per share. On average, research analysts predict that Addus HomeCare Corporation will post 4.59 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JMP Securities reiterated a "market outperform" rating and issued a $150.00 price objective on shares of Addus HomeCare in a research report on Wednesday, July 16th. Barclays increased their price objective on Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a research report on Tuesday. Macquarie reiterated an "outperform" rating and issued a $133.00 price objective on shares of Addus HomeCare in a research report on Tuesday, June 10th. Wall Street Zen upgraded Addus HomeCare from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Finally, Royal Bank Of Canada increased their price objective on Addus HomeCare from $133.00 to $134.00 and gave the stock an "outperform" rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $138.38.

Insider Buying and Selling

In related news, Director Veronica Hill-Milbourne sold 1,571 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $114.93, for a total value of $180,555.03. Following the sale, the director directly owned 5,067 shares of the company's stock, valued at $582,350.31. This trade represents a 23.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Dirk Allison sold 25,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $114.95, for a total value of $2,873,750.00. Following the completion of the sale, the chief executive officer directly owned 166,461 shares in the company, valued at $19,134,691.95. The trade was a 13.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,616 shares of company stock valued at $3,289,480 over the last ninety days. 4.50% of the stock is owned by insiders.

About Addus HomeCare

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.