Amedisys (NASDAQ:AMED) Sees Unusually-High Trading Volume - Here's Why
Amedisys (NASDAQ:AMED) experienced a significant increase in trading volume, with 1,188,750 shares traded, a 215% rise from the previous session. The stock price rose to $100.88 from $99.29. Analysts have mixed views, with Royal Bank of Canada maintaining an "outperform" rating and a $100 price target, while Wall Street Zen downgraded it to "buy." Amedisys reported $1.54 EPS, exceeding estimates, and a revenue of $621.86 million, up 5.2% year-over-year. Hedge funds hold 94.36% of the stock, indicating strong institutional interest.
Amedisys, Inc. (NASDAQ:AMED - Get Free Report) saw an uptick in trading volume on Thursday . 1,188,750 shares were traded during mid-day trading, an increase of 215% from the previous session's volume of 377,256 shares.The stock last traded at $100.88 and had previously closed at $99.29.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on AMED shares. Royal Bank Of Canada reissued an "outperform" rating and set a $100.00 price target on shares of Amedisys in a research report on Wednesday, April 16th. Wall Street Zen downgraded shares of Amedisys from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th.
Check Out Our Latest Stock Report on Amedisys
Amedisys Stock Up 1.6%
The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The business's 50-day simple moving average is $97.08 and its 200-day simple moving average is $94.31. The company has a market capitalization of $3.32 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89.
Amedisys (NASDAQ:AMED - Get Free Report) last announced its earnings results on Tuesday, July 29th. The health services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.15. Amedisys had a net margin of 3.56% and a return on equity of 12.91%. The business had revenue of $621.86 million for the quarter, compared to analyst estimates of $614.61 million. During the same quarter last year, the business earned $0.98 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Amedisys, Inc. will post 4.4 EPS for the current fiscal year.
Hedge Funds Weigh In On Amedisys
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its stake in Amedisys by 108.1% in the first quarter. Hexagon Capital Partners LLC now owns 310 shares of the health services provider's stock worth $29,000 after acquiring an additional 161 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Amedisys by 56.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 334 shares of the health services provider's stock valued at $31,000 after purchasing an additional 120 shares in the last quarter. Fifth Third Bancorp increased its stake in Amedisys by 68.1% in the first quarter. Fifth Third Bancorp now owns 348 shares of the health services provider's stock valued at $32,000 after purchasing an additional 141 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Amedisys in the second quarter valued at approximately $32,000. Finally, UMB Bank n.a. raised its holdings in Amedisys by 100.0% during the first quarter. UMB Bank n.a. now owns 386 shares of the health services provider's stock worth $36,000 after purchasing an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 94.36% of the company's stock.
Amedisys Company Profile
(Get Free Report)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.
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