Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys New Position in Addus HomeCare Corporation (NASDAQ:ADUS)

Key Points

• Empirical Financial Services LLC has acquired a new stake in Addus HomeCare Corporation, purchasing 10,788 shares valued at approximately $1,067,000, which represents about 0.06% ownership in the company.
• Recent analysis shows that Addus HomeCare received predominantly positive ratings from analysts, with a consensus of "Buy" and average price target set at $142.57.
• Addus HomeCare reported earnings per share (EPS) of $1.42 for the most recent quarter, surpassing analyst expectations, with a year-over-year revenue increase of 20.3% to $337.71 million.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,788 shares of the company's stock, valued at approximately $1,067,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned about 0.06% of Addus HomeCare as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADUS. Dimensional Fund Advisors LP grew its position in shares of Addus HomeCare by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 692,713 shares of the company's stock valued at $86,833,000 after acquiring an additional 10,434 shares during the period. WCM Investment Management LLC raised its position in Addus HomeCare by 4.9% in the 1st quarter. WCM Investment Management LLC now owns 494,791 shares of the company's stock worth $48,143,000 after purchasing an additional 23,176 shares during the period. Principal Financial Group Inc. increased its position in shares of Addus HomeCare by 18.3% during the first quarter. Principal Financial Group Inc. now owns 475,818 shares of the company's stock worth $47,054,000 after acquiring an additional 73,720 shares during the period. Capital Research Global Investors purchased a new position in Addus HomeCare during the fourth quarter valued at approximately $51,149,000. Finally, Invesco Ltd. boosted its stake in Addus HomeCare by 6.5% in the fourth quarter. Invesco Ltd. now owns 346,120 shares of the company's stock valued at $43,386,000 after acquiring an additional 21,266 shares in the last quarter. 95.35% of the stock is owned by institutional investors.

Insider Buying and Selling at Addus HomeCare

In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 2,045 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total transaction of $235,175.00. Following the sale, the executive vice president directly owned 7,796 shares in the company, valued at $896,540. This represents a 20.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.60% of the company's stock.

Addus HomeCare Stock Up 7.8%

Shares of NASDAQ ADUS traded up $8.35 during mid-day trading on Tuesday, reaching $115.31. The company had a trading volume of 267,548 shares, compared to its average volume of 189,526. The stock has a fifty day moving average of $111.80 and a two-hundred day moving average of $108.27. Addus HomeCare Corporation has a 12-month low of $88.96 and a 12-month high of $136.72. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.49 and a beta of 0.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.74 and a current ratio of 1.74.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The firm had revenue of $349.44 million during the quarter, compared to analyst estimates of $345.71 million. Addus HomeCare had a return on equity of 9.23% and a net margin of 6.52%. The company's revenue was up 21.8% on a year-over-year basis. During the same period last year, the company earned $1.35 earnings per share. As a group, equities research analysts expect that Addus HomeCare Corporation will post 4.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADUS. JMP Securities reiterated a "market outperform" rating and set a $150.00 price objective on shares of Addus HomeCare in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Addus HomeCare from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Finally, Macquarie reissued an "outperform" rating and issued a $133.00 price objective on shares of Addus HomeCare in a research report on Tuesday, June 10th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Addus HomeCare has a consensus rating of "Buy" and an average price target of $142.57.

Addus HomeCare Profile

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.