Zacks Investment Research Downgrades Kindred Healthcare, Inc. (KND) to Sell
Kindred Healthcare, Inc. (NYSE:KND) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Kindred Healthcare, Inc. is one of the largest providers of long-term healthcare services in the United States. Their health services division provides long-term care services by operating nursing centers and a rehabilitation therapy business, and their hospital division provides long-term acute care services by operating hospitals and an institutional pharmacy business. “
A number of other research firms have also recently weighed in on KND. BidaskClub cut Kindred Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Deutsche Bank AG lowered their price objective on Kindred Healthcare from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Bank of America Corporation lowered their price objective on Kindred Healthcare from $7.50 to $6.50 and set an “underperform” rating on the stock in a research report on Thursday, September 21st. Mizuho reiterated a “neutral” rating and set a $9.00 price objective on shares of Kindred Healthcare in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada lowered their price objective on Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating on the stock in a research report on Thursday, September 21st. Six analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Kindred Healthcare presently has an average rating of “Hold” and an average target price of $8.75.
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, beating analysts’ consensus estimates of $0.16 by $0.03. Kindred Healthcare had a positive return on equity of 3.49% and a negative net margin of 16.31%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis.
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Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of Kindred Healthcare by 28.1% in the first quarter. SG Americas Securities LLC now owns 20,915 shares of the health services provider’s stock valued at $175,000 after buying an additional 4,584 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Kindred Healthcare by 149.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,104,618 shares of the health services provider’s stock valued at $24,518,000 after purchasing an additional 1,260,753 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Kindred Healthcare by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,869 shares of the health services provider’s stock valued at $17,345,000 after purchasing an additional 34,553 shares during the period. Point72 Asia Hong Kong Ltd bought a new stake in shares of Kindred Healthcare during the 1st quarter valued at $121,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Kindred Healthcare by 2.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 866,881 shares of the health services provider’s stock valued at $7,239,000 after purchasing an additional 22,210 shares during the period. 88.14% of the stock is currently owned by institutional investors.
Kindred Healthcare Company Profile
Kindred Healthcare, Inc, incorporated on March 27, 1998, 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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