Municipal Employees Retirement System of Michigan Has $219,000 Position in Kindred Healthcare, Inc. (KND)
Municipal Employees Retirement System of Michigan boosted its stake in Kindred Healthcare, Inc. (NYSE:KND) by 60.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,150 shares of the health services provider’s stock after purchasing an additional 12,070 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Kindred Healthcare were worth $219,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of KND. Janus Henderson Group PLC acquired a new position in Kindred Healthcare during the second quarter worth about $130,000. Amalgamated Bank grew its holdings in shares of Kindred Healthcare by 0.9% during the second quarter. Amalgamated Bank now owns 11,518 shares of the health services provider’s stock worth $134,000 after purchasing an additional 108 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Kindred Healthcare during the third quarter worth about $208,000. Piedmont Investment Advisors LLC bought a new stake in shares of Kindred Healthcare during the second quarter worth about $216,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Kindred Healthcare by 10.2% during the second quarter. Public Employees Retirement System of Ohio now owns 26,773 shares of the health services provider’s stock worth $312,000 after purchasing an additional 2,468 shares during the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.
Kindred Healthcare, Inc. (KND) traded down $0.20 during trading on Thursday, hitting $8.55. The company’s stock had a trading volume of 1,835,500 shares, compared to its average volume of 1,207,735. The company has a market cap of $743.27, a PE ratio of 43.75, a price-to-earnings-growth ratio of 3.64 and a beta of 1.21. Kindred Healthcare, Inc. has a 52-week low of $5.50 and a 52-week high of $11.90. The company has a debt-to-equity ratio of 6.22, a current ratio of 1.55 and a quick ratio of 1.53.
Several research firms have recently weighed in on KND. Bank of America reduced their price target on Kindred Healthcare from $7.50 to $6.50 and set an “underperform” rating on the stock in a report on Thursday, September 21st. Royal Bank of Canada reduced their target price on Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating on the stock in a report on Thursday, September 21st. Mizuho reiterated a “neutral” rating and issued a $7.50 target price (down from $8.00) on shares of Kindred Healthcare in a report on Tuesday, October 10th. Stifel Nicolaus upgraded Kindred Healthcare from a “sell” rating to a “hold” rating and set a $7.00 target price on the stock in a report on Monday, November 20th. Finally, Deutsche Bank reiterated a “hold” rating and issued a $9.00 target price (down from $10.00) on shares of Kindred Healthcare in a report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Kindred Healthcare currently has an average rating of “Hold” and an average target price of $8.86.
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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