Fulcrum Equity Management Makes New Investment in Amedisys, Inc. (NASDAQ:AMED)
Fulcrum Equity Management purchased a new position in shares of Amedisys, Inc. (NASDAQ:AMED) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,700 shares of the health services provider’s stock, valued at approximately $1,774,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Amedisys by 2.4% in the 4th quarter. BlackRock Inc. now owns 3,980,184 shares of the health services provider’s stock worth $1,167,506,000 after purchasing an additional 92,634 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amedisys by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,560,457 shares of the health services provider’s stock worth $457,729,000 after purchasing an additional 52,343 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Amedisys by 7.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,137,542 shares of the health services provider’s stock worth $333,675,000 after purchasing an additional 82,251 shares in the last quarter. Riverbridge Partners LLC lifted its holdings in shares of Amedisys by 6.5% in the 4th quarter. Riverbridge Partners LLC now owns 739,234 shares of the health services provider’s stock worth $216,840,000 after purchasing an additional 45,291 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Amedisys by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 642,696 shares of the health services provider’s stock worth $188,523,000 after purchasing an additional 9,850 shares in the last quarter. Institutional investors own 85.87% of the company’s stock.
A number of brokerages recently issued reports on AMED. Truist increased their target price on Amedisys from $280.00 to $325.00 in a report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft increased their price target on Amedisys from $275.00 to $340.00 and gave the company a “buy” rating in a research report on Monday, February 8th. They noted that the move was a valuation call. Finally, Benchmark increased their price target on Amedisys from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Monday, March 1st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Amedisys presently has a consensus rating of “Buy” and an average price target of $268.64.
Amedisys (NASDAQ:AMED) last issued its quarterly earnings results on Tuesday, February 23rd. The health services provider reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.02. The firm had revenue of $550.71 million during the quarter, compared to the consensus estimate of $551.91 million. Amedisys had a return on equity of 26.41% and a net margin of 8.22%. During the same quarter last year, the company posted $0.94 EPS. On average, research analysts forecast that Amedisys, Inc. will post 6.07 earnings per share for the current year.
In related news, CFO Scott G. Ginn sold 975 shares of the firm’s stock in a transaction dated Friday, January 29th. The stock was sold at an average price of $286.87, for a total transaction of $279,698.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David L. Kemmerly sold 503 shares of the firm’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $270.00, for a total value of $135,810.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,408 shares of company stock valued at $1,227,928. Corporate insiders own 2.80% of the company’s stock.
Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, and Personal Care. The Home Health segment offers a range of services in the homes of individuals for the recovery of patients from surgery, chronic disability, or terminal illness, as well as prevents avoidable hospital readmissions through its skilled nurses; rehabilitation therapists specialized in physical, speech, and occupational therapy; and social workers and aides for assisting its patients.
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