Addus HomeCare Corporation (NASDAQ:ADUS) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 40.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,118 shares of the company's stock after buying an additional 47,222 shares during the period. Bank of New York Mellon Corp owned approximately 0.90% of Addus HomeCare worth $16,230,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Addus HomeCare by 9.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,698 shares of the company's stock worth $5,352,000 after purchasing an additional 3,659 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Addus HomeCare in the fourth quarter worth about $6,637,000. Bank of Montreal Can boosted its position in Addus HomeCare by 17.4% in the fourth quarter. Bank of Montreal Can now owns 2,493 shares of the company's stock worth $312,000 after purchasing an additional 369 shares during the last quarter. Deutsche Bank AG boosted its position in Addus HomeCare by 50.0% in the fourth quarter. Deutsche Bank AG now owns 16,354 shares of the company's stock worth $2,050,000 after purchasing an additional 5,448 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Addus HomeCare by 22.8% in the fourth quarter. Schroder Investment Management Group now owns 61,727 shares of the company's stock worth $7,795,000 after purchasing an additional 11,460 shares during the last quarter. 95.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADUS has been the topic of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $150.00 price objective on shares of Addus HomeCare in a research note on Wednesday, July 16th. Macquarie reaffirmed an "outperform" rating and issued a $133.00 price objective on shares of Addus HomeCare in a research note on Tuesday, June 10th. Finally, Wall Street Zen raised Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Addus HomeCare presently has an average rating of "Buy" and an average price target of $142.57.

Addus HomeCare Price Performance

ADUS traded up $1.68 on Wednesday, hitting $110.39. 95,931 shares of the company's stock traded hands, compared to its average volume of 165,577. The company's 50 day simple moving average is $112.35 and its 200-day simple moving average is $109.68. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 1.54 and a beta of 0.81. Addus HomeCare Corporation has a one year low of $88.96 and a one year high of $136.72. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.20.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.09. The business had revenue of $337.71 million during the quarter, compared to analysts' expectations of $341.66 million. Addus HomeCare had a return on equity of 9.23% and a net margin of 6.52%. The firm's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. As a group, research analysts anticipate that Addus HomeCare Corporation will post 4.59 EPS for the current year.

Insider Transactions at Addus HomeCare

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 7,796 shares in the company, valued at $896,540. The trade was a 20.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is currently owned by insiders.

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.