Addus HomeCare Corporation $ADUS Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Addus HomeCare by 6.7%, owning approximately 1.66% of the company, valued at $30.17 million after purchasing more shares in the first quarter.
• Institutional ownership of Addus HomeCare stands at 95.35%, with multiple hedge funds adjusting their positions in the company, including a significant 368.3% increase by Caitong International Asset Management.
• Research analysts have set a consensus price target of $138.38 for Addus HomeCare, with ratings varying from "Strong Buy" to "Sell," reflecting a generally positive outlook on the stock.

Northern Trust Corp grew its holdings in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 305,109 shares of the company's stock after acquiring an additional 19,237 shares during the quarter. Northern Trust Corp owned 1.66% of Addus HomeCare worth $30,172,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. WCM Investment Management LLC raised its stake in shares of Addus HomeCare by 4.9% during the first quarter. WCM Investment Management LLC now owns 494,791 shares of the company's stock worth $48,143,000 after acquiring an additional 23,176 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Addus HomeCare by 18.3% in the first quarter. Principal Financial Group Inc. now owns 475,818 shares of the company's stock worth $47,054,000 after buying an additional 73,720 shares during the period. Invesco Ltd. increased its stake in shares of Addus HomeCare by 19.8% in the first quarter. Invesco Ltd. now owns 414,705 shares of the company's stock worth $41,010,000 after buying an additional 68,585 shares during the period. Tributary Capital Management LLC increased its stake in shares of Addus HomeCare by 3.6% in the first quarter. Tributary Capital Management LLC now owns 214,567 shares of the company's stock worth $21,219,000 after buying an additional 7,436 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Addus HomeCare by 273.6% in the fourth quarter. Bank of America Corp DE now owns 175,070 shares of the company's stock worth $21,945,000 after buying an additional 128,211 shares during the period. 95.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADUS. Macquarie reissued an "outperform" rating and set a $133.00 price objective on shares of Addus HomeCare in a research report on Tuesday, June 10th. UBS Group started coverage on shares of Addus HomeCare in a research report on Tuesday. They issued a "buy" rating and a $145.00 target price on the stock. Stephens reiterated an "overweight" rating and issued a $140.00 price target on shares of Addus HomeCare in a research note on Wednesday. TD Cowen upped their target price on shares of Addus HomeCare from $135.00 to $139.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, JMP Securities restated a "market outperform" rating and set a $150.00 target price on shares of Addus HomeCare in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Addus HomeCare presently has an average rating of "Buy" and an average target price of $138.89.

Insiders Place Their Bets

In other news, EVP Brian Poff sold 7,739 shares of Addus HomeCare stock in a transaction on Monday, August 25th. The stock was sold at an average price of $116.82, for a total transaction of $904,069.98. Following the transaction, the executive vice president owned 56,980 shares in the company, valued at $6,656,403.60. The trade was a 11.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Dirk Allison sold 25,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $114.95, for a total transaction of $2,873,750.00. Following the completion of the sale, the chief executive officer owned 166,461 shares in the company, valued at approximately $19,134,691.95. This trade represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,310 shares of company stock worth $3,958,375. Corporate insiders own 4.50% of the company's stock.

Addus HomeCare Stock Down 1.5%

Addus HomeCare stock traded down $1.73 during trading hours on Thursday, reaching $111.38. The stock had a trading volume of 61,905 shares, compared to its average volume of 188,057. Addus HomeCare Corporation has a 52 week low of $88.96 and a 52 week high of $136.72. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 1.75 and a beta of 0.85. 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 business's 50 day moving average price is $112.13 and its 200-day moving average price is $107.01.

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

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.