Insider Selling: Addus HomeCare (NASDAQ:ADUS) EVP Sells 2,000 Shares of Company Stock

Key Points

• EVP Cliff Donald Blessing sold 2,000 Addus HomeCare shares at an average price of $124.18, totaling $248,360. He retained 10,183 shares, reducing his position by 16.42%.
• Addus reported quarterly EPS of $1.83, beating the $1.79 consensus estimate; revenue rose 7% year over year to $387.74 million, slightly below analyst expectations.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $134.70. Recent target increases from several firms were offset by a Bank of America downgrade to Neutral.

Addus HomeCare Corporation (NASDAQ:ADUS - Get Free Report) EVP Cliff Donald Blessing sold 2,000 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $124.18, for a total transaction of $248,360.00. Following the transaction, the executive vice president owned 10,183 shares of the company's stock, valued at $1,264,524.94. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Addus HomeCare Price Performance

Shares of Addus HomeCare stock traded up $3.87 during trading hours on Tuesday, reaching $126.29. The company's stock had a trading volume of 225,844 shares, compared to its average volume of 237,872. The firm has a 50 day moving average price of $117.74 and a 200-day moving average price of $106.95. Addus HomeCare Corporation has a one year low of $87.95 and a one year high of $131.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.64 and a quick ratio of 1.69. The stock has a market cap of $2.36 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.82 and a beta of 0.75.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.04. Addus HomeCare had a net margin of 7.39% and a return on equity of 10.22%. The firm had revenue of $387.74 million for the quarter, compared to analysts' expectations of $388.72 million. During the same period in the prior year, the company earned $1.56 EPS. The business's revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that Addus HomeCare Corporation will post 6.34 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen upped their price objective on Addus HomeCare from $131.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, November 5th. Bank of America downgraded Addus HomeCare from a "buy" rating to a "neutral" rating and cut their target price for the company from $140.00 to $125.00 in a research report on Monday, September 14th. Barclays boosted their target price on Addus HomeCare from $96.00 to $101.00 and gave the company an "underweight" rating in a research report on Wednesday, November 4th. UBS Group increased their price target on Addus HomeCare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, November 5th. Finally, Truist Financial raised their price target on Addus HomeCare from $135.00 to $148.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Addus HomeCare currently has an average rating of "Moderate Buy" and an average price target of $134.70.

Hedge Funds Weigh In On Addus HomeCare

Several hedge funds have recently added to or reduced their stakes in ADUS. Hsbc Holdings PLC raised its position in Addus HomeCare by 73.3% in the 2nd quarter. Hsbc Holdings PLC now owns 24,463 shares of the company's stock worth $2,446,000 after purchasing an additional 10,350 shares during the period. Summit Creek Advisors LLC bought a new stake in Addus HomeCare in the second quarter worth about $8,552,000. Bank of America Corp DE boosted its position in shares of Addus HomeCare by 11.3% during the first quarter. Bank of America Corp DE now owns 323,037 shares of the company's stock valued at $30,252,000 after buying an additional 32,714 shares during the period. Globeflex Capital L P purchased a new position in shares of Addus HomeCare during the second quarter valued at approximately $1,635,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Addus HomeCare during the second quarter valued at approximately $901,000. 95.35% of the stock is currently owned by institutional investors.

About Addus HomeCare

Addus HomeCare Corporation provides home-based care services to older adults and people with disabilities. Its services are designed to help clients receive care at home and in other community-based settings. The company operates through personal care, hospice and home health services. Personal care includes assistance with daily activities; hospice provides end-of-life care and support; and home health offers skilled nursing and therapy services. Founded in 1979, Addus serves communities across multiple states.

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