Addus HomeCare (NASDAQ:ADUS) Reaches New 1-Year High – Here’s Why

Addus HomeCare Co. (NASDAQ:ADUS)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $136.68 and last traded at $135.82, with a volume of 5486 shares traded. The stock had previously closed at $133.87.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. KeyCorp started coverage on shares of Addus HomeCare in a report on Friday, October 11th. They set an “overweight” rating and a $150.00 price objective for the company. Oppenheimer boosted their target price on Addus HomeCare from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. StockNews.com lowered Addus HomeCare from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Stephens increased their price objective on shares of Addus HomeCare from $143.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $136.00 price target on shares of Addus HomeCare in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Addus HomeCare presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.67.

Addus HomeCare Stock Up 1.4 %

The company has a 50 day simple moving average of $125.39 and a 200 day simple moving average of $126.71. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00.

Addus HomeCare (NASDAQ:ADUS) last announced its earnings results on Monday, November 4th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. The firm had revenue of $289.80 million for the quarter, compared to the consensus estimate of $289.42 million. Addus HomeCare had a return on equity of 9.62% and a net margin of 6.50%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. On average, research analysts forecast that Addus HomeCare Co. will post 4.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO R Dirk Allison sold 25,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $124.76, for a total transaction of $3,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 79,397 shares of the company’s stock, valued at approximately $9,905,569.72. This represents a 23.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Roberton James Stevenson sold 2,250 shares of Addus HomeCare stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.00, for a total transaction of $272,250.00. Following the transaction, the executive vice president now directly owns 10,217 shares of the company’s stock, valued at approximately $1,236,257. This trade represents a 18.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,750 shares of company stock valued at $4,930,750 in the last quarter. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Addus HomeCare

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in Addus HomeCare during the third quarter worth about $28,000. Farther Finance Advisors LLC raised its holdings in Addus HomeCare by 9,150.0% in the third quarter. Farther Finance Advisors LLC now owns 370 shares of the company’s stock worth $49,000 after buying an additional 366 shares during the last quarter. Sandia Investment Management LP purchased a new position in shares of Addus HomeCare in the 2nd quarter worth $58,000. GAMMA Investing LLC lifted its position in shares of Addus HomeCare by 25.7% during the 3rd quarter. GAMMA Investing LLC now owns 935 shares of the company’s stock valued at $124,000 after buying an additional 191 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Addus HomeCare by 11.5% in the 3rd quarter. Assetmark Inc. now owns 1,169 shares of the company’s stock worth $156,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 95.35% of the company’s stock.

Addus HomeCare Company Profile

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.