Bank of Nova Scotia Acquires 31,000 Shares of Amedisys, Inc. (NASDAQ:AMED)

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 grew its stake in Amedisys, Inc. (NASDAQ:AMED - Free Report) by 27.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,000 shares of the health services provider's stock after acquiring an additional 31,000 shares during the period. Bank of Nova Scotia owned 0.43% of Amedisys worth $13,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Pentwater Capital Management LP grew its position in shares of Amedisys by 178.3% during the 4th quarter. Pentwater Capital Management LP now owns 1,180,000 shares of the health services provider's stock worth $107,132,000 after buying an additional 756,000 shares during the period. Alpine Associates Management Inc. grew its holdings in Amedisys by 11.7% during the first quarter. Alpine Associates Management Inc. now owns 992,120 shares of the health services provider's stock valued at $91,900,000 after purchasing an additional 104,000 shares during the period. Water Island Capital LLC grew its holdings in Amedisys by 0.3% during the fourth quarter. Water Island Capital LLC now owns 603,565 shares of the health services provider's stock valued at $54,798,000 after purchasing an additional 1,950 shares during the period. Geode Capital Management LLC grew its holdings in Amedisys by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 573,020 shares of the health services provider's stock valued at $52,040,000 after purchasing an additional 5,915 shares during the period. Finally, AQR Arbitrage LLC grew its holdings in Amedisys by 59.1% during the fourth quarter. AQR Arbitrage LLC now owns 471,965 shares of the health services provider's stock valued at $42,812,000 after purchasing an additional 175,311 shares during the period. 94.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Amedisys from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Amedisys in a research note on Wednesday, April 16th.

Amedisys Stock Performance

NASDAQ AMED traded up $0.81 on Tuesday, hitting $99.31. 1,409,139 shares of the stock were exchanged, compared to its average volume of 421,167. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.36 and a quick ratio of 1.36. The business's fifty day moving average is $96.86 and its 200 day moving average is $94.24. Amedisys, Inc. has a 52 week low of $82.15 and a 52 week high of $99.85. The company has a market capitalization of $3.27 billion, a PE ratio of 38.64, a P/E/G ratio of 1.33 and a beta of 0.89.

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

Amedisys Company 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.