Wellington Management Group LLP Sells 169,992 Shares of Addus HomeCare Corporation $ADUS

Key Points

• Wellington Management cut its Addus HomeCare stake by 44.5% in the second quarter, selling 169,992 shares and retaining 212,362 shares worth approximately $21.3 million. Institutional investors collectively own 95.35% of ADUS.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $128.86. Recent targets range from $96 to $142.
• Addus HomeCare exceeded quarterly expectations, reporting EPS of $1.73 versus $1.70 expected and revenue of $377.41 million, up 8% year over year. Shares opened at $118.76, near their 52-week high of $124.43.

Wellington Management Group LLP lessened its position in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 44.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,362 shares of the company's stock after selling 169,992 shares during the quarter. Wellington Management Group LLP owned approximately 1.14% of Addus HomeCare worth $21,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its position in Addus HomeCare by 2.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,153 shares of the company's stock worth $446,000 after purchasing an additional 103 shares during the period. ProShare Advisors LLC increased its holdings in Addus HomeCare by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 3,527 shares of the company's stock valued at $379,000 after buying an additional 105 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Addus HomeCare by 0.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 18,684 shares of the company's stock valued at $2,150,000 after buying an additional 106 shares in the last quarter. State of Wyoming raised its stake in shares of Addus HomeCare by 25.7% in the 4th quarter. State of Wyoming now owns 523 shares of the company's stock valued at $56,000 after buying an additional 107 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in shares of Addus HomeCare by 0.9% during the 3rd quarter. Pathstone Holdings LLC now owns 12,727 shares of the company's stock worth $1,502,000 after acquiring an additional 112 shares during the period. 95.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADUS shares. Royal Bank Of Canada upped their target price on shares of Addus HomeCare from $130.00 to $134.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Addus HomeCare from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 9th. Barclays lifted their price objective on Addus HomeCare from $92.00 to $96.00 and gave the company an "underweight" rating in a report on Wednesday, July 8th. Citigroup reiterated a "market outperform" rating on shares of Addus HomeCare in a research note on Friday, July 24th. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $142.00 target price on shares of Addus HomeCare in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.86.

Insider Activity

In other news, insider Heather Dixon sold 288 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $93.77, for a total transaction of $27,005.76. Following the sale, the insider directly owned 44,371 shares of the company's stock, valued at $4,160,668.67. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company's stock.

Addus HomeCare Price Performance

Shares of ADUS stock opened at $118.76 on Monday. Addus HomeCare Corporation has a 52 week low of $87.95 and a 52 week high of $124.43. The stock has a market capitalization of $2.22 billion, a PE ratio of 20.84, a PEG ratio of 1.59 and a beta of 0.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.69 and a current ratio of 1.69. The stock's fifty day moving average is $114.01 and its 200-day moving average is $103.13.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. The business had revenue of $377.41 million during the quarter, compared to analysts' expectations of $376.24 million. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%.The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 earnings per share. Equities research analysts expect that Addus HomeCare Corporation will post 6.3 EPS for the current fiscal year.

Addus HomeCare Company Profile

Addus HomeCare NASDAQ: ADUS is a leading provider of home and community-based care services for elderly, disabled, and medically complex individuals across the United States. Through a network of company-owned and franchise locations, the company delivers a broad spectrum of non-medical personal care and licensed home health services designed to support clients' independence and quality of life.

The company's core offerings include personal care assistance—covering daily living activities, medication reminders, and light housekeeping—and skilled home health services delivered under the supervision of registered nurses and licensed therapists.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.