Addus HomeCare (NASDAQ:ADUS) Shares Gap Down After Earnings Miss

Addus HomeCare Co. (NASDAQ:ADUS)’s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $108.84, but opened at $99.75. Addus HomeCare shares last traded at $99.90, with a volume of 65,541 shares changing hands.

The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.09). Addus HomeCare had a return on equity of 9.62% and a net margin of 6.50%. The business had revenue of $297.14 million for the quarter, compared to the consensus estimate of $291.04 million.

Analyst Upgrades and Downgrades

ADUS has been the topic of several analyst reports. JMP Securities initiated coverage on Addus HomeCare in a research report on Monday, December 16th. They issued an “outperform” rating and a $150.00 price objective on the stock. Stephens raised their target price on Addus HomeCare from $143.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Addus HomeCare from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Oppenheimer raised their target price on shares of Addus HomeCare from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $136.00 price target on shares of Addus HomeCare in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $134.22.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Addus HomeCare

A number of hedge funds have recently added to or reduced their stakes in ADUS. Creative Planning raised its position in Addus HomeCare by 5.8% in the 3rd quarter. Creative Planning now owns 4,910 shares of the company’s stock valued at $653,000 after purchasing an additional 267 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Addus HomeCare during the third quarter worth about $217,000. Louisiana State Employees Retirement System raised its stake in Addus HomeCare by 7.4% during the 3rd quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the company’s stock valued at $1,157,000 after acquiring an additional 600 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Addus HomeCare by 7.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 10,215 shares of the company’s stock valued at $1,358,000 after acquiring an additional 721 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in Addus HomeCare during the 3rd quarter worth approximately $251,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Addus HomeCare Trading Down 10.4 %

The company has a market capitalization of $1.77 billion, a PE ratio of 22.32, a P/E/G ratio of 1.41 and a beta of 1.00. The firm has a 50 day simple moving average of $123.94 and a two-hundred day simple moving average of $126.50.

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.