Amedisys (NASDAQ:AMED) Shares Gap Up – Here’s Why

Shares of Amedisys, Inc. (NASDAQ:AMED) gapped up prior to trading on Friday . The stock had previously closed at $85.95, but opened at $89.50. Amedisys shares last traded at $89.46, with a volume of 536,164 shares changing hands.

Amedisys Stock Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 1.84 and a beta of 0.73. The stock’s 50 day moving average is $90.60 and its two-hundred day moving average is $94.44.

Amedisys (NASDAQ:AMED) last released its quarterly earnings results on Wednesday, November 6th. The health services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.19). The company had revenue of $587.67 million for the quarter, compared to analysts’ expectations of $586.75 million. Amedisys had a return on equity of 12.20% and a net margin of 3.57%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Analysts anticipate that Amedisys, Inc. will post 4.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amedisys

Several hedge funds have recently modified their holdings of the stock. National Bank of Canada FI raised its position in Amedisys by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 55,592 shares of the health services provider’s stock worth $5,365,000 after buying an additional 30,213 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Amedisys by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 514,166 shares of the health services provider’s stock worth $47,202,000 after purchasing an additional 19,660 shares in the last quarter. Geode Capital Management LLC lifted its position in Amedisys by 1.3% in the third quarter. Geode Capital Management LLC now owns 567,105 shares of the health services provider’s stock valued at $54,746,000 after purchasing an additional 7,071 shares during the period. Quarry LP purchased a new stake in Amedisys in the 3rd quarter valued at approximately $2,569,000. Finally, Charles Schwab Investment Management Inc. increased its position in Amedisys by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 346,082 shares of the health services provider’s stock worth $33,400,000 after purchasing an additional 9,004 shares during the period. 94.36% of the stock is owned by institutional investors and hedge funds.

About Amedisys

Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, and High Acuity 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; nursing services, rehabilitation therapists specialized in physical, speech, and occupational therapy; and social workers and aides for assisting its patients.