Addus HomeCare Corporation $ADUS Shares Sold by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC reduced its stock holdings in Addus HomeCare Corporation by 32.5% during the first quarter, owning about 51,301 shares worth $5,073,000 after selling 24,729 shares.
• Several hedge funds have increased their stakes in Addus HomeCare, with Naitxis raising its stake by 111.9% and Caitong International Asset Management increasing its stake by 368.3% in the first quarter.
• Addus HomeCare reported earnings of $1.49 EPS for the quarter, exceeding estimates, with revenue up 21.8% compared to the same quarter last year.

Lord Abbett & CO. LLC trimmed its holdings in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 32.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,301 shares of the company's stock after selling 24,729 shares during the period. Lord Abbett & CO. LLC owned 0.28% of Addus HomeCare worth $5,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Premier Fund Managers Ltd acquired a new position in shares of Addus HomeCare during the 1st quarter valued at about $726,000. Envestnet Asset Management Inc. raised its stake in Addus HomeCare by 9.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 42,698 shares of the company's stock worth $5,352,000 after purchasing an additional 3,659 shares during the period. Bank of Montreal Can raised its stake in Addus HomeCare by 17.4% during the fourth quarter. Bank of Montreal Can now owns 2,493 shares of the company's stock worth $312,000 after purchasing an additional 369 shares during the period. Deutsche Bank AG boosted its holdings in Addus HomeCare by 50.0% in the 4th quarter. Deutsche Bank AG now owns 16,354 shares of the company's stock valued at $2,050,000 after purchasing an additional 5,448 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Addus HomeCare by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 692,713 shares of the company's stock valued at $86,833,000 after buying an additional 10,434 shares during the period. 95.35% of the stock is owned by institutional investors and hedge funds.

Addus HomeCare Stock Down 0.6%

Shares of NASDAQ ADUS traded down $0.6820 during midday trading on Thursday, hitting $114.1680. The company's stock had a trading volume of 49,208 shares, compared to its average volume of 192,055. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. The business's fifty day simple moving average is $111.86 and its two-hundred day simple moving average is $107.21. Addus HomeCare Corporation has a 1 year low of $88.96 and a 1 year high of $136.72.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The company had revenue of $349.44 million for the quarter, compared to analyst estimates of $345.71 million. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The firm's quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 EPS. On average, equities analysts predict that Addus HomeCare Corporation will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADUS shares. Macquarie reaffirmed an "outperform" rating and set a $133.00 price target on shares of Addus HomeCare in a research report on Tuesday, June 10th. Barclays raised their target price on Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a research note on Tuesday. TD Cowen raised their price objective on Addus HomeCare from $135.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Addus HomeCare from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $150.00 target price on shares of Addus HomeCare in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $138.63.

Insider Transactions at Addus HomeCare

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total transaction of $235,175.00. Following the completion of the transaction, the executive vice president directly owned 7,796 shares of the company's stock, valued at $896,540. The trade was a 20.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.50% of the company's stock.

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.