Bank of America Corp DE Purchases New Position in Addus HomeCare Corporation $ADUS

Key Points

• Bank of America purchased 353,608 shares of Addus HomeCare in the second quarter, valued at approximately $35.5 million, giving it a 1.89% stake. Institutional investors collectively own 95.35% of the company.
• Addus HomeCare exceeded quarterly expectations, reporting adjusted earnings of $1.73 per share versus the $1.70 consensus estimate and revenue of $377.4 million, up 8% year over year.
• The stock opened at $115.36 after declining 1.5%. Analysts maintain a “Moderate Buy” consensus with an average price target of $128, though Citigroup and Bank of America recently took more cautious positions.

Bank of America Corp DE bought a new stake in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 353,608 shares of the company's stock, valued at approximately $35,527,000. Bank of America Corp DE owned 1.89% of Addus HomeCare at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Leeward Investments LLC MA lifted its holdings in Addus HomeCare by 9.4% during the first quarter. Leeward Investments LLC MA now owns 120,857 shares of the company's stock valued at $11,318,000 after purchasing an additional 10,414 shares in the last quarter. Summit Creek Advisors LLC acquired a new stake in shares of Addus HomeCare in the second quarter valued at approximately $8,552,000. TimesSquare Capital Management LLC purchased a new position in shares of Addus HomeCare during the 2nd quarter worth $31,502,000. SG Americas Securities LLC raised its stake in Addus HomeCare by 176.0% during the first quarter. SG Americas Securities LLC now owns 27,303 shares of the company's stock worth $2,557,000 after purchasing an additional 17,411 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new position in Addus HomeCare in the second quarter valued at approximately $4,290,000. Institutional investors and hedge funds own 95.35% of the company's stock.

Addus HomeCare Trading Down 1.5%

NASDAQ ADUS opened at $115.36 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.69 and a quick ratio of 1.69. The firm's fifty day moving average price is $116.79 and its 200 day moving average price is $103.77. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86. Addus HomeCare Corporation has a 12 month low of $87.95 and a 12 month high of $124.43.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its quarterly earnings results 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. Addus HomeCare had a net margin of 7.13% and a return on equity of 9.96%. The firm had revenue of $377.41 million during the quarter, compared to analysts' expectations of $376.24 million. During the same period in the previous year, the company earned $1.49 earnings per share. Addus HomeCare's quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Addus HomeCare Corporation will post 6.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup downgraded shares of Addus HomeCare from a "market outperform" rating to a "neutral" rating in a report on Monday, September 14th. Royal Bank Of Canada increased their price target on 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 Addus HomeCare from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 9th. Raymond James Financial set a $125.00 target price on shares of Addus HomeCare in a research note on Monday, September 14th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $125.00 target price (down from $140.00) on shares of Addus HomeCare in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.00.

Addus HomeCare Company Profile

Addus HomeCare Corporation provides home-based care services to older adults, people with disabilities and individuals with chronic or complex medical needs. The company operates through three primary service lines: personal care, hospice and home health.

Its personal care services include assistance with daily living activities, such as bathing, dressing, meal preparation and household tasks. Addus also provides hospice care for individuals with terminal illnesses, as well as home health services that may include skilled nursing, therapy and other clinical support.

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