Bank of America Corp DE Increases Position in Kindred Healthcare, Inc. (NYSE:KND)
Bank of America Corp DE boosted its stake in Kindred Healthcare, Inc. (NYSE:KND) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,425,910 shares of the health services provider’s stock after buying an additional 13,774 shares during the period. Bank of America Corp DE owned about 2.83% of Kindred Healthcare worth $20,257,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of KND. BlackRock Inc. raised its stake in shares of Kindred Healthcare by 41,968.4% in the first quarter. BlackRock Inc. now owns 10,779,191 shares of the health services provider’s stock valued at $90,006,000 after buying an additional 10,753,568 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Kindred Healthcare by 40.9% in the first quarter. Wellington Management Group LLP now owns 7,945,247 shares of the health services provider’s stock valued at $66,342,000 after buying an additional 2,307,814 shares during the last quarter. Norges Bank purchased a new stake in shares of Kindred Healthcare during the fourth quarter valued at approximately $8,342,000. Bogle Investment Management L P DE purchased a new stake in shares of Kindred Healthcare during the first quarter valued at approximately $3,085,000. Finally, State Street Corp raised its stake in Kindred Healthcare by 12.6% in the fourth quarter. State Street Corp now owns 2,249,345 shares of the health services provider’s stock valued at $17,661,000 after buying an additional 252,206 shares in the last quarter. 88.96% of the stock is owned by institutional investors.
Kindred Healthcare, Inc. (NYSE:KND) traded down 2.96% on Friday, hitting $8.20. The stock had a trading volume of 1,417,432 shares. The stock’s market cap is $702.19 million. Kindred Healthcare, Inc. has a 12 month low of $5.65 and a 12 month high of $12.32. The firm’s 50 day moving average price is $10.88 and its 200-day moving average price is $9.21.
Kindred Healthcare (NYSE:KND) last posted its quarterly earnings results on Thursday, August 3rd. The health services provider reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.59 billion. Kindred Healthcare had a negative net margin of 9.55% and a positive return on equity of 4.08%. Kindred Healthcare’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. On average, analysts forecast that Kindred Healthcare, Inc. will post $0.49 EPS for the current year.
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Several research firms have issued reports on KND. BidaskClub lowered Kindred Healthcare from a “hold” rating to a “sell” rating in a report on Monday. Zacks Investment Research lowered Kindred Healthcare from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Mizuho restated a “neutral” rating and issued a $9.00 price objective on shares of Kindred Healthcare in a research report on Monday, July 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $10.00 price objective on shares of Kindred Healthcare in a research report on Monday, May 15th. Finally, Barclays PLC restated a “buy” rating and issued a $13.00 price objective (up from $11.00) on shares of Kindred Healthcare in a research report on Sunday, May 7th. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.06.
About Kindred Healthcare
Kindred Healthcare, Inc is a healthcare services company. The Company, through its subsidiaries, operates transitional care (TC) hospitals, a home health, hospice and community care business, inpatient rehabilitation hospitals (IRFs), a contract rehabilitation services business, nursing centers and assisted living facilities across the United States.
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