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

Addus HomeCare Co. (NASDAQ:ADUS)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $161.77 and last traded at $161.77, with a volume of 865 shares trading hands. The stock had previously closed at $125.34.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADUS. JMP Securities began coverage on Addus HomeCare in a research note on Monday, December 16th. They issued an “outperform” rating and a $150.00 price objective on the stock. Oppenheimer increased their target price on Addus HomeCare from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Citizens Jmp upgraded Addus HomeCare to a “strong-buy” rating in a research note on Monday, December 16th. Stephens increased their target price on Addus HomeCare from $143.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, KeyCorp started coverage on Addus HomeCare in a research note on Friday, October 11th. They set an “overweight” rating and a $150.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Addus HomeCare has a consensus rating of “Buy” and a consensus target price of $133.67.

Addus HomeCare Stock Performance

The stock has a fifty day simple moving average of $125.02 and a two-hundred day simple moving average of $126.08. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 2.11 and a beta of 1.00.

Addus HomeCare (NASDAQ:ADUS) last issued its earnings results on Monday, November 4th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Equities analysts expect that Addus HomeCare Co. will post 4.59 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Roberton James Stevenson sold 2,250 shares of Addus HomeCare stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.00, for a total value of $272,250.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Dirk Allison sold 12,500 shares of Addus HomeCare stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $123.16, for a total value of $1,539,500.00. Following the completion of the transaction, the chief executive officer now directly owns 141,897 shares of the company’s stock, valued at approximately $17,476,034.52. This trade represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,750 shares of company stock worth $4,930,750. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP raised its position in shares of Addus HomeCare by 11.8% in the 3rd quarter. Wasatch Advisors LP now owns 1,043,240 shares of the company’s stock worth $138,782,000 after acquiring an additional 110,010 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Addus HomeCare by 73.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 745,824 shares of the company’s stock valued at $86,598,000 after buying an additional 315,602 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Addus HomeCare by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 714,253 shares of the company’s stock valued at $82,930,000 after buying an additional 5,421 shares during the period. State Street Corp grew its stake in shares of Addus HomeCare by 4.4% in the 3rd quarter. State Street Corp now owns 663,610 shares of the company’s stock valued at $88,280,000 after buying an additional 27,990 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Addus HomeCare by 17.5% in the 3rd quarter. Principal Financial Group Inc. now owns 505,853 shares of the company’s stock valued at $67,293,000 after buying an additional 75,409 shares during the period. 95.35% of the stock is owned by institutional investors.

About Addus HomeCare

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.