Amedisys, Inc. (NASDAQ:AMED) Sees Significant Growth in Short Interest

Amedisys, Inc. (NASDAQ:AMED) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,260,000 shares, a growth of 37.8% from the October 15th total of 1,640,000 shares. Based on an average daily trading volume, of 387,600 shares, the days-to-cover ratio is currently 5.8 days. Currently, 7.1% of the company’s shares are sold short.

Institutional Trading of Amedisys

Institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV acquired a new stake in Amedisys in the 3rd quarter valued at approximately $63,000. Innealta Capital LLC acquired a new position in shares of Amedisys during the second quarter valued at $64,000. Covestor Ltd raised its stake in shares of Amedisys by 134.2% during the first quarter. Covestor Ltd now owns 780 shares of the health services provider’s stock valued at $72,000 after purchasing an additional 447 shares in the last quarter. Signaturefd LLC lifted its holdings in Amedisys by 88.2% in the second quarter. Signaturefd LLC now owns 1,131 shares of the health services provider’s stock worth $104,000 after purchasing an additional 530 shares during the period. Finally, CWM LLC grew its position in Amedisys by 14.5% in the 3rd quarter. CWM LLC now owns 2,190 shares of the health services provider’s stock valued at $211,000 after buying an additional 277 shares in the last quarter. Institutional investors and hedge funds own 94.36% of the company’s stock.

Amedisys Stock Performance

NASDAQ:AMED opened at $90.49 on Thursday. The company has a market cap of $2.96 billion, a P/E ratio of 35.91, a P/E/G ratio of 1.87 and a beta of 0.78. The firm’s 50 day moving average is $96.32 and its two-hundred day moving average is $95.85. Amedisys has a fifty-two week low of $89.55 and a fifty-two week high of $98.95. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.05.

Amedisys (NASDAQ:AMED) last announced its quarterly earnings results on Wednesday, November 6th. The health services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.19). The business 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 firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company posted $0.98 earnings per share. Analysts expect that Amedisys will post 4.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Amedisys from a “buy” rating to a “hold” rating and set a $101.00 price target for the company. in a report on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and issued a $101.00 price target on shares of Amedisys in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.67.

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.