Cynosure Group LLC Has $1.43 Million Position in Addus HomeCare Corporation (NASDAQ:ADUS)

Key Points

• Cynosure Group LLC significantly increased its stake in Addus HomeCare Corporation by 491.3%, now owning approximately $1.425 million worth of the company's stock.
• Addus HomeCare reported a 21.8% increase in revenue year-over-year and earnings per share (EPS) of $1.49, surpassing estimates of $1.45.
• Major institutional investors hold 95.35% of Addus HomeCare's shares, indicating strong institutional confidence in the company's performance.

Cynosure Group LLC boosted its position in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 491.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,415 shares of the company's stock after purchasing an additional 11,977 shares during the period. Cynosure Group LLC owned about 0.08% of Addus HomeCare worth $1,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis lifted its stake in Addus HomeCare by 111.9% in the 4th quarter. Natixis now owns 250 shares of the company's stock valued at $31,000 after acquiring an additional 132 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Addus HomeCare in the 1st quarter valued at approximately $208,000. Heritage Family Offices LLP grew its stake in shares of Addus HomeCare by 6.3% in the first 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 increased its holdings in Addus HomeCare by 52.4% during the first quarter. Private Advisor Group LLC now owns 2,546 shares of the company's stock worth $252,000 after buying an additional 875 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its position in Addus HomeCare by 6.3% during the first quarter. Hohimer Wealth Management LLC now owns 2,561 shares of the company's stock worth $253,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 95.35% of the company's stock.

Insiders Place Their Bets

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $235,175.00. Following the completion of the sale, the executive vice president directly owned 7,796 shares in the company, valued at $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 is available at this hyperlink. 4.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ADUS shares. Wall Street Zen upgraded shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Macquarie reaffirmed an "outperform" rating and set a $133.00 price target on shares of Addus HomeCare in a report on Tuesday, June 10th. JMP Securities reaffirmed a "market outperform" rating and set a $150.00 target price on shares of Addus HomeCare in a report on Wednesday, July 16th. Finally, TD Cowen boosted their price target on Addus HomeCare from $135.00 to $139.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $142.86.

Addus HomeCare Price Performance

ADUS stock traded up $3.90 during trading on Wednesday, reaching $116.96. 149,147 shares of the company were exchanged, compared to its average volume of 193,489. Addus HomeCare Corporation has a twelve month low of $88.96 and a twelve month high of $136.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.71 and a beta of 0.80. The company has a 50-day moving average of $111.75 and a two-hundred day moving average of $107.63.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. Addus HomeCare had a return on equity of 9.39% and a net margin of 6.51%. The business had revenue of $349.44 million for the quarter, compared to analyst estimates of $345.71 million. During the same quarter in the previous year, the company posted $1.35 EPS. Addus HomeCare's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts predict that Addus HomeCare Corporation will post 4.59 earnings per share for the current fiscal year.

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.