Addus HomeCare Corporation (NASDAQ:ADUS) Shares Bought by Equitable Trust Co.

Key Points

• Equitable Trust Co. notably increased its holdings in Addus HomeCare Corporation by 39.4%, acquiring an additional 2,799 shares, which brought their total ownership to 9,895 shares worth approximately $979,000.
• The stock was recently up 1.2%, trading at $109.43 with a market capitalization of $2.01 billion and a price-to-earnings ratio of 24.70.
• Addus HomeCare reported earnings per share of $1.42 for the last quarter, exceeding analyst expectations, alongside a year-over-year revenue increase of 20.3%.

Equitable Trust Co. raised its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 39.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,895 shares of the company's stock after purchasing an additional 2,799 shares during the period. Equitable Trust Co. owned 0.05% of Addus HomeCare worth $979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its position in Addus HomeCare by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 19,661 shares of the company's stock valued at $2,465,000 after acquiring an additional 91 shares in the last quarter. Natixis boosted its position in Addus HomeCare by 111.9% during the 4th quarter. Natixis now owns 250 shares of the company's stock valued at $31,000 after acquiring an additional 132 shares in the last quarter. Heritage Family Offices LLP boosted its position in Addus HomeCare by 6.3% during the 1st quarter. Heritage Family Offices LLP now owns 2,417 shares of the company's stock valued at $239,000 after acquiring an additional 143 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in Addus HomeCare by 6.3% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,561 shares of the company's stock valued at $253,000 after acquiring an additional 152 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Addus HomeCare by 1.2% during the 4th quarter. Stifel Financial Corp now owns 12,794 shares of the company's stock valued at $1,604,000 after acquiring an additional 153 shares in the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $235,175.00. Following the transaction, the executive vice president directly owned 7,796 shares in the company, valued at approximately $896,540. This represents a 20.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.60% of the company's stock.

Analysts Set New Price Targets

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

Addus HomeCare Price Performance

NASDAQ:ADUS traded up $0.42 during trading hours on Wednesday, hitting $108.31. 51,444 shares of the stock were exchanged, compared to its average volume of 188,314. Addus HomeCare Corporation has a 52-week low of $88.96 and a 52-week high of $136.72. The firm's fifty day moving average price is $112.28 and its 200 day moving average price is $109.10. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.99 billion, a P/E ratio of 24.42, a P/E/G ratio of 1.55 and a beta of 0.81.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.09. The business had revenue of $337.71 million during the quarter, compared to analyst estimates of $341.66 million. Addus HomeCare had a return on equity of 9.23% and a net margin of 6.52%. The business's revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 earnings per share. As a group, equities research analysts anticipate that Addus HomeCare Corporation will post 4.59 EPS for the current fiscal year.

Addus HomeCare Company 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.