Bank of America Corp DE Grows Stock Holdings in Addus HomeCare Corporation $ADUS

Key Points

• Bank of America increased its Addus HomeCare stake by 11.3% in the first quarter, owning 323,037 shares worth approximately $30.3 million, or 1.73% of the company. Institutional investors collectively hold 95.35% of ADUS.
• Addus HomeCare reported quarterly earnings of $1.73 per share, beating estimates by $0.03, while revenue rose 8.0% year over year to $377.41 million. Shares recently traded at $116.06, near the upper half of their 52-week range.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $130.88; recent targets range from $96 to $142.

Bank of America Corp DE boosted its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,037 shares of the company's stock after purchasing an additional 32,714 shares during the period. Bank of America Corp DE owned about 1.73% of Addus HomeCare worth $30,252,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its stake in Addus HomeCare by 2.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,153 shares of the company's stock valued at $446,000 after buying an additional 103 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Addus HomeCare by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 3,527 shares of the company's stock worth $379,000 after buying an additional 105 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Addus HomeCare by 0.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 18,684 shares of the company's stock worth $2,150,000 after acquiring an additional 106 shares during the period. State of Wyoming grew its holdings in shares of Addus HomeCare by 25.7% in the fourth quarter. State of Wyoming now owns 523 shares of the company's stock worth $56,000 after acquiring an additional 107 shares during the period. Finally, Private Trust Co. NA increased its position in Addus HomeCare by 65.5% during the fourth quarter. Private Trust Co. NA now owns 283 shares of the company's stock valued at $30,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 95.35% of the company's stock.

Addus HomeCare Stock Performance

Shares of ADUS opened at $116.06 on Friday. The business has a 50-day simple moving average of $106.84 and a two-hundred day simple moving average of $102.02. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.05. Addus HomeCare Corporation has a 52 week low of $87.95 and a 52 week high of $124.43. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.56 and a beta of 0.87.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. The firm had revenue of $377.41 million for the quarter, compared to analysts' expectations of $376.24 million. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%.The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.49 EPS. On average, analysts expect that Addus HomeCare Corporation will post 6.29 EPS for the current year.

Insiders Place Their Bets

In other Addus HomeCare news, insider Heather Brianne Dixon sold 288 shares of Addus HomeCare stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $93.77, for a total transaction of $27,005.76. Following the transaction, the insider owned 44,371 shares of the company's stock, valued at $4,160,668.67. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 788 shares of company stock worth $73,506 over the last quarter. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADUS. Citigroup reissued a "market outperform" rating on shares of Addus HomeCare in a report on Friday, July 24th. Royal Bank Of Canada upped their price target on shares of Addus HomeCare from $130.00 to $134.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Addus HomeCare from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 9th. Barclays raised their price objective on shares of Addus HomeCare from $92.00 to $96.00 and gave the stock an "underweight" rating in a report on Wednesday, July 8th. Finally, Citizens Jmp restated a "market outperform" rating and set a $142.00 target price on shares of Addus HomeCare in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Addus HomeCare has an average rating of "Moderate Buy" and a consensus target price of $130.88.

Addus HomeCare Profile

Addus HomeCare NASDAQ: ADUS is a leading provider of home and community-based care services for elderly, disabled, and medically complex individuals across the United States. Through a network of company-owned and franchise locations, the company delivers a broad spectrum of non-medical personal care and licensed home health services designed to support clients' independence and quality of life.

The company's core offerings include personal care assistance—covering daily living activities, medication reminders, and light housekeeping—and skilled home health services delivered under the supervision of registered nurses and licensed therapists.

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