Alpine Associates Management Inc. Grows Position in Amedisys, Inc. (NASDAQ:AMED)

Key Points

• Alpine Associates Management Inc. increased its stake in Amedisys, Inc. by 11.7% during the first quarter, purchasing an additional 104,000 shares to reach a total of 992,120 shares.
• Amedisys reported a quarterly EPS of $1.54, surpassing analyst estimates by $0.15, and saw a 5.2% increase in revenue compared to the previous year.
• Analysts have mixed ratings for Amedisys, with Wall Street Zen lowering its rating from "strong-buy" to "buy," while Royal Bank of Canada maintained an "outperform" rating with a $100.00 price target.

Alpine Associates Management Inc. increased its holdings in Amedisys, Inc. (NASDAQ:AMED - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 992,120 shares of the health services provider's stock after purchasing an additional 104,000 shares during the quarter. Amedisys makes up 4.8% of Alpine Associates Management Inc.'s investment portfolio, making the stock its 7th biggest holding. Alpine Associates Management Inc. owned approximately 3.02% of Amedisys worth $91,900,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its stake in shares of Amedisys by 108.1% in the 1st 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 last quarter. MassMutual Private Wealth & Trust FSB boosted its position 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 acquiring an additional 120 shares during the last quarter. Fifth Third Bancorp boosted its position 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 acquiring an additional 141 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Amedisys by 100.0% during the 1st quarter. UMB Bank n.a. now owns 386 shares of the health services provider's stock valued at $36,000 after purchasing an additional 193 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Amedisys during the 4th quarter valued at about $55,000. Institutional investors own 94.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMED shares. Wall Street Zen cut 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 set a $100.00 target price on shares of Amedisys in a research note on Wednesday, April 16th.

Amedisys Stock Down 0.1%

Shares of AMED stock traded down $0.09 on Friday, reaching $98.51. 872,139 shares of the company were exchanged, compared to its average volume of 370,725. The company has a 50-day moving average of $96.75 and a 200-day moving average of $94.17. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.36 and a quick ratio of 1.29. Amedisys, Inc. has a one year low of $82.15 and a one year high of $99.00.

Amedisys (NASDAQ:AMED - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The health services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.15. Amedisys had a return on equity of 12.91% and a net margin of 3.56%. The business had revenue of $621.86 million for the quarter, compared to analyst estimates of $614.61 million. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Amedisys, Inc. will post 4.4 earnings per share for the current year.

Amedisys Profile

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.