Parametric Portfolio Associates LLC Lowers Stock Holdings in Amedisys, Inc. (NASDAQ:AMED)

Parametric Portfolio Associates LLC reduced its position in Amedisys, Inc. (NASDAQ:AMED) by 1.2% in the 2nd quarter, Holdings Channel reports. The fund owned 69,414 shares of the health services provider’s stock after selling 865 shares during the period. Parametric Portfolio Associates LLC’s holdings in Amedisys were worth $17,002,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Amedisys by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,140,392 shares of the health services provider’s stock worth $769,176,000 after acquiring an additional 18,787 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Amedisys by 8.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,265,080 shares of the health services provider’s stock valued at $309,856,000 after buying an additional 97,351 shares during the period. State Street Corp grew its stake in shares of Amedisys by 8.9% during the 2nd quarter. State Street Corp now owns 824,093 shares of the health services provider’s stock valued at $201,845,000 after buying an additional 67,570 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Amedisys by 55.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 562,860 shares of the health services provider’s stock valued at $137,861,000 after buying an additional 199,839 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Amedisys by 7.3% during the 2nd quarter. Alliancebernstein L.P. now owns 488,388 shares of the health services provider’s stock valued at $119,621,000 after buying an additional 33,197 shares during the period. 86.93% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Amedisys in a research note on Thursday, September 23rd. They set a “sell” rating and a $150.00 price objective for the company. Stephens boosted their price objective on shares of Amedisys from $178.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Amedisys from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 5th. Cowen started coverage on shares of Amedisys in a research note on Thursday, September 9th. They set a “market perform” rating and a $195.00 price objective for the company. Finally, Benchmark decreased their price target on shares of Amedisys from $325.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Amedisys has an average rating of “Hold” and an average target price of $208.33.

Shares of AMED stock opened at $158.46 on Thursday. Amedisys, Inc. has a 12 month low of $137.82 and a 12 month high of $325.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.67 and a beta of 0.61. The business has a fifty day moving average price of $165.78.

Amedisys (NASDAQ:AMED) last issued its quarterly earnings data on Tuesday, November 2nd. The health services provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.16. Amedisys had a net margin of 9.98% and a return on equity of 24.15%. The firm had revenue of $553.49 million for the quarter, compared to analyst estimates of $568.55 million. During the same quarter in the previous year, the business posted $2.24 EPS. Research analysts predict that Amedisys, Inc. will post 5.94 EPS for the current fiscal year.

Amedisys announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the health services provider to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other Amedisys news, Director Bruce D. Perkins sold 11,511 shares of the business’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $183.00, for a total value of $2,106,513.00. Following the transaction, the director now owns 29,380 shares in the company, valued at approximately $5,376,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Amedisys Profile

Amedisys, Inc engages in the provision of healthcare services. It operates through the following business segments: Home Health, Hospice, and Personal Care. The Home Health segment delivers services in the homes of individuals who may be recovering from an illness, injury, or surgery. The Hospice segment provides care that is designed to provide comfort and support for those who are facing a terminal illness.

Further Reading: What is a stock split?

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Institutional Ownership by Quarter for Amedisys (NASDAQ:AMED)

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