Vestcor Inc Increases Stock Holdings in Addus HomeCare Corporation (NASDAQ:ADUS)

Key Points

• Vestcor Inc increased its stake in Addus HomeCare Corporation by 156.1%, owning 10,629 shares worth $1,051,000, as indicated in its recent SEC filing.
• Several analysts have issued positive ratings for Addus HomeCare, with a consensus rating of "Buy" and an average target price of $142.57.
• Addus HomeCare reported a 20.3% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of $1.42, surpassing estimates.

Vestcor Inc grew its holdings in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 156.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,629 shares of the company's stock after purchasing an additional 6,479 shares during the quarter. Vestcor Inc owned approximately 0.06% of Addus HomeCare worth $1,051,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADUS. Natixis grew its holdings in Addus HomeCare by 111.9% during the 4th quarter. Natixis now owns 250 shares of the company's stock valued at $31,000 after buying an additional 132 shares in the last quarter. Bailard Inc. purchased a new position in Addus HomeCare during the 1st quarter valued at about $208,000. Heritage Family Offices LLP grew its holdings in Addus HomeCare by 6.3% during the 1st quarter. Heritage Family Offices LLP now owns 2,417 shares of the company's stock valued at $239,000 after buying an additional 143 shares in the last quarter. Private Advisor Group LLC grew its holdings in Addus HomeCare by 52.4% during the 1st quarter. Private Advisor Group LLC now owns 2,546 shares of the company's stock valued at $252,000 after buying an additional 875 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in Addus HomeCare by 6.3% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,561 shares of the company's stock valued at $253,000 after buying an additional 152 shares in the last quarter. 95.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ADUS. Wall Street Zen raised Addus HomeCare from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. JMP Securities reissued a "market outperform" rating and set a $150.00 price objective on shares of Addus HomeCare in a report on Wednesday, July 16th. Finally, Macquarie reissued an "outperform" rating and set a $133.00 price objective on shares of Addus HomeCare in a report on Tuesday, June 10th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $142.57.

Insider Buying and Selling at Addus HomeCare

In other news, EVP Michael D. Wattenbarger sold 2,045 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total transaction of $235,175.00. Following the completion of the sale, the executive vice president owned 7,796 shares of the company's stock, valued at approximately $896,540. This represents a 20.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.60% of the company's stock.

Addus HomeCare Price Performance

NASDAQ ADUS traded up $8.35 on Tuesday, reaching $115.31. 267,548 shares of the company's stock traded hands, compared to its average volume of 189,526. Addus HomeCare Corporation has a 12 month low of $88.96 and a 12 month high of $136.72. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a 50-day simple moving average of $111.80 and a 200 day simple moving average of $108.27. The stock has a market cap of $2.12 billion, a PE ratio of 26.15, a P/E/G ratio of 1.49 and a beta of 0.80.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Addus HomeCare had a net margin of 6.52% and a return on equity of 9.23%. The business had revenue of $349.44 million for the quarter, compared to analysts' expectations of $345.71 million. During the same period last year, the business earned $1.35 earnings per share. The business's quarterly revenue was up 21.8% on a year-over-year basis. As a group, research analysts predict that Addus HomeCare Corporation will post 4.59 earnings per share for the current year.

Addus HomeCare Company Profile

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.