Amedisys, Inc. (NASDAQ:AMED) Stake Raised by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its stake in Amedisys, Inc. by 27.9% during the first quarter, owning 142,000 shares valued at approximately $13.15 million.
• Amedisys reported an EPS of $1.54 for the last quarter, exceeding analysts' expectations, and its revenue grew 5.2% year-over-year, amounting to $621.86 million.
• Several institutional investors significantly boosted their holdings, and now 94.36% of Amedisys's stock is owned by hedge funds and institutional investors.

Bank of Nova Scotia raised its position in shares of Amedisys, Inc. (NASDAQ:AMED - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,000 shares of the health services provider's stock after purchasing an additional 31,000 shares during the period. Bank of Nova Scotia owned approximately 0.43% of Amedisys worth $13,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC purchased a new stake in shares of Amedisys during the 1st quarter valued at $463,000. Fifth Third Bancorp raised its position in shares of Amedisys by 68.1% in the 1st quarter. Fifth Third Bancorp now owns 348 shares of the health services provider's stock worth $32,000 after acquiring an additional 141 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Amedisys during the 1st quarter valued at $817,000. M&T Bank Corp purchased a new position in shares of Amedisys during the first quarter valued at approximately $315,000. Finally, CWM LLC increased its stake in Amedisys by 16.1% during the 1st quarter. CWM LLC now owns 2,470 shares of the health services provider's stock valued at $229,000 after purchasing an additional 343 shares in the last quarter. 94.36% of the stock is owned by institutional investors.

Amedisys Stock Up 1.6%

Shares of AMED traded up $1.59 during mid-day trading on Thursday, hitting $100.88. 3,407,283 shares of the company traded hands, compared to its average volume of 395,983. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.26. Amedisys, Inc. has a 1-year low of $82.15 and a 1-year high of $100.99. The business has a 50 day moving average of $97.08 and a 200 day moving average of $94.31. The company has a market capitalization of $3.32 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMED shares. Wall Street Zen lowered shares of Amedisys from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th. Royal Bank Of Canada restated an "outperform" rating and set a $100.00 price objective on shares of Amedisys in a research report on Wednesday, April 16th.

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.