BlackRock Inc. Takes Position in Addus HomeCare Corporation $ADUS

Key Points

• BlackRock acquired 3.43 million shares of Addus HomeCare during the second quarter, worth approximately $344.2 million and representing an 18.35% stake. Institutional investors collectively own 95.35% of the company.
• Addus HomeCare’s latest quarterly results exceeded expectations, with EPS of $1.73 versus the $1.70 consensus and revenue of $377.41 million, up 8% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $130.88, compared with the stock’s reported price of $121.09.

BlackRock Inc. purchased a new stake in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,425,435 shares of the company's stock, valued at approximately $344,153,000. BlackRock Inc. owned approximately 18.35% of Addus HomeCare at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Deutsche Bank AG purchased a new position in Addus HomeCare in the second quarter worth $2,062,000. Rice Hall James & Associates LLC purchased a new stake in shares of Addus HomeCare during the 2nd quarter worth $4,290,000. TimesSquare Capital Management LLC purchased a new stake in shares of Addus HomeCare during the 2nd quarter worth $31,502,000. Persistent Asset Partners Ltd acquired a new position in shares of Addus HomeCare during the 2nd quarter worth $98,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Addus HomeCare during the 2nd quarter worth $11,219,000. Institutional investors and hedge funds own 95.35% of the company's stock.

Insider Activity

In other news, insider Heather Brianne Dixon sold 288 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $93.77, for a total value 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 legal filing with the Securities & Exchange Commission, which is available through 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.

Wall Street Analyst Weigh In

ADUS has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Addus HomeCare from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 9th. Barclays boosted their price target on Addus HomeCare from $92.00 to $96.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 8th. Citigroup reaffirmed a "market outperform" rating on shares of Addus HomeCare in a report on Friday, July 24th. Citizens Jmp reissued a "market outperform" rating and issued a $142.00 target price on shares of Addus HomeCare in a report on Monday, May 18th. Finally, Royal Bank Of Canada raised 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $130.88.

Addus HomeCare Trading Up 0.2%

Shares of ADUS opened at $121.09 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.69 and a quick ratio of 1.69. Addus HomeCare Corporation has a 1-year low of $87.95 and a 1-year high of $124.43. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.62 and a beta of 0.87. The firm has a 50 day simple moving average of $110.51 and a 200-day simple moving average of $102.69.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. The firm had revenue of $377.41 million for the quarter, compared to analysts' expectations of $376.24 million. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%.Addus HomeCare's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 EPS. Equities analysts forecast that Addus HomeCare Corporation will post 6.29 EPS for the current fiscal year.

Addus HomeCare Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source