Public Sector Pension Investment Board Acquires 12,120 Shares of Addus HomeCare Corporation $ADUS

Key Points

• The Public Sector Pension Investment Board increased its stake in Addus HomeCare Corporation by 27.1%, owning 56,836 shares worth approximately $5.62 million as of its latest SEC filing.
• Analysts have a consensus rating of "Buy" for Addus HomeCare, with several institutions raising their price targets, now averaging around $142.86.
• In its latest earnings report, Addus HomeCare posted $1.49 earnings per share, exceeding analyst expectations, with a 21.8% increase in revenue compared to the previous year.

Public Sector Pension Investment Board increased its holdings in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 27.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,836 shares of the company's stock after buying an additional 12,120 shares during the period. Public Sector Pension Investment Board owned about 0.31% of Addus HomeCare worth $5,621,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of Addus HomeCare by 75.6% in the 4th quarter. LPL Financial LLC now owns 7,884 shares of the company's stock valued at $988,000 after purchasing an additional 3,393 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Addus HomeCare by 22.2% in the fourth quarter. Wells Fargo & Company MN now owns 31,918 shares of the company's stock valued at $4,001,000 after buying an additional 5,809 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Addus HomeCare by 9.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,698 shares of the company's stock valued at $5,352,000 after buying an additional 3,659 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Addus HomeCare by 17.4% in the fourth quarter. Bank of Montreal Can now owns 2,493 shares of the company's stock valued at $312,000 after buying an additional 369 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Addus HomeCare in the fourth quarter valued at $6,637,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Addus HomeCare

In other Addus HomeCare news, Director Veronica Hill-Milbourne sold 1,571 shares of Addus HomeCare stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $114.93, for a total transaction of $180,555.03. Following the completion of the sale, the director directly owned 5,067 shares in the company, valued at $582,350.31. The trade was a 23.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Dirk Allison sold 25,000 shares of Addus HomeCare stock in a transaction that occurred on 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 sale, the chief executive officer owned 166,461 shares of the company's stock, valued at approximately $19,134,691.95. The trade was a 13.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,616 shares of company stock worth $3,289,480 over the last three months. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Macquarie reiterated an "outperform" rating and issued a $133.00 target price on shares of Addus HomeCare in a research note on Tuesday, June 10th. Barclays lifted their target price on shares of Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a research note on Tuesday. JMP Securities reiterated a "market outperform" rating and issued a $150.00 target price on shares of Addus HomeCare in a research note on Wednesday, July 16th. Finally, TD Cowen lifted their target price on shares of Addus HomeCare from $135.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Addus HomeCare has an average rating of "Buy" and an average target price of $138.38.

Addus HomeCare Price Performance

NASDAQ:ADUS traded up $2.87 during mid-day trading on Friday, hitting $117.05. 18,575 shares of the stock traded hands, compared to its average volume of 191,158. The business's 50-day moving average price is $111.86 and its 200 day moving average price is $107.13. The company has a market cap of $2.15 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.75 and a beta of 0.80. Addus HomeCare Corporation has a 12-month low of $88.96 and a 12-month high of $136.72. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.17.

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