PNC Financial Services Group Inc. Lowers Stake in Addus HomeCare Co. (NASDAQ:ADUS)

PNC Financial Services Group Inc. reduced its position in shares of Addus HomeCare Co. (NASDAQ:ADUS) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,646 shares of the company’s stock after selling 656 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Addus HomeCare were worth $617,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADUS. Principal Securities Inc. acquired a new position in shares of Addus HomeCare during the 4th quarter worth about $26,000. GAMMA Investing LLC acquired a new position in shares of Addus HomeCare during the 4th quarter worth about $34,000. Assetmark Inc. raised its position in shares of Addus HomeCare by 33.3% during the 4th quarter. Assetmark Inc. now owns 1,774 shares of the company’s stock worth $165,000 after purchasing an additional 443 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Addus HomeCare during the 4th quarter worth about $214,000. Finally, Cetera Trust Company N.A acquired a new stake in Addus HomeCare in the 4th quarter valued at about $219,000. 95.35% of the stock is owned by hedge funds and other institutional investors.

Addus HomeCare Stock Down 0.7 %

Shares of NASDAQ ADUS opened at $119.52 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $1.96 billion, a P/E ratio of 29.66, a P/E/G ratio of 2.30 and a beta of 1.02. The company has a 50 day simple moving average of $108.99 and a 200-day simple moving average of $99.65. Addus HomeCare Co. has a 1 year low of $78.35 and a 1 year high of $120.53.

Addus HomeCare (NASDAQ:ADUS) last posted its quarterly earnings data on Monday, May 6th. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.24. The firm had revenue of $280.70 million during the quarter, compared to analysts’ expectations of $279.49 million. Addus HomeCare had a net margin of 6.04% and a return on equity of 10.03%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. On average, equities research analysts predict that Addus HomeCare Co. will post 4.36 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Roberton James Stevenson sold 217 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $116.13, for a total transaction of $25,200.21. Following the completion of the transaction, the executive vice president now owns 10,217 shares of the company’s stock, valued at approximately $1,186,500.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America increased their price objective on shares of Addus HomeCare from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. TD Cowen increased their price objective on shares of Addus HomeCare from $119.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Stephens increased their price objective on shares of Addus HomeCare from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Barclays downgraded shares of Addus HomeCare from an “equal weight” rating to an “underweight” rating and set a $83.00 price objective for the company. in a report on Tuesday, April 23rd. Finally, Oppenheimer increased their price objective on shares of Addus HomeCare from $118.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.43.

Addus HomeCare 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.