Bank of New York Mellon Corp Invests $11.22 Million in Addus HomeCare Corporation $ADUS

Key Points

• Bank of New York Mellon initiated an $11.22 million position in Addus HomeCare, purchasing 111,663 shares, while institutional investors collectively own 95.35% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $128.86, above the reported share price of $114.55.
• Addus HomeCare exceeded quarterly expectations, reporting $1.73 in EPS and $377.41 million in revenue; revenue increased 8% year over year.

Bank of New York Mellon Corp bought a new position in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 111,663 shares of the company's stock, valued at approximately $11,219,000. Bank of New York Mellon Corp owned 0.60% of Addus HomeCare as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ADUS. Global Retirement Partners LLC lifted its position in Addus HomeCare by 395.7% during the fourth quarter. Global Retirement Partners LLC now owns 233 shares of the company's stock worth $25,000 after acquiring an additional 186 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Addus HomeCare by 133.3% in the third quarter. Larson Financial Group LLC now owns 238 shares of the company's stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Acumen Wealth Advisors LLC acquired a new position in shares of Addus HomeCare in the fourth quarter valued at approximately $29,000. Arax Advisory Partners increased its stake in shares of Addus HomeCare by 95.8% during the fourth quarter. Arax Advisory Partners now owns 280 shares of the company's stock worth $30,000 after purchasing an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Addus HomeCare by 73.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 325 shares of the company's stock worth $35,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 95.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADUS. Citizens Jmp reaffirmed a "market outperform" rating and issued a $142.00 price objective on shares of Addus HomeCare in a report on Monday, May 18th. Weiss Ratings raised Addus HomeCare from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 9th. Barclays boosted their target price on shares of Addus HomeCare from $92.00 to $96.00 and gave the company an "underweight" rating in a research report on Wednesday, July 8th. 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 note on Wednesday, August 5th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Addus HomeCare in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.86.

Addus HomeCare Price Performance

Shares of NASDAQ ADUS opened at $114.55 on Wednesday. The stock has a market capitalization of $2.14 billion, a PE ratio of 20.10, a P/E/G ratio of 1.54 and a beta of 0.87. 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 business has a fifty day moving average price of $112.72 and a two-hundred day moving average price of $103.01. Addus HomeCare Corporation has a fifty-two week low of $87.95 and a fifty-two week high of $124.43.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%.The company had revenue of $377.41 million for the quarter, compared to analyst estimates of $376.24 million. During the same period in the prior year, the firm posted $1.49 EPS. Addus HomeCare's quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts predict that Addus HomeCare Corporation will post 6.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Addus HomeCare news, insider Heather Brianne Dixon sold 288 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $93.77, for a total transaction of $27,005.76. Following the sale, the insider directly owned 44,371 shares in the company, valued at $4,160,668.67. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by corporate insiders.

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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