Westchester Capital Management LLC Lowers Position in Amedisys, Inc. (NASDAQ:AMED)

Westchester Capital Management LLC lowered its stake in Amedisys, Inc. (NASDAQ:AMED) by 83.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 189,844 shares of the health services provider’s stock after selling 928,958 shares during the quarter. Amedisys comprises about 0.9% of Westchester Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Westchester Capital Management LLC owned about 0.58% of Amedisys worth $17,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in AMED. Credit Industriel ET Commercial acquired a new position in Amedisys during the fourth quarter worth $3,486,000. Cigogne Management SA purchased a new position in Amedisys during the 4th quarter valued at about $2,692,000. Adage Capital Partners GP L.L.C. grew its position in Amedisys by 32.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 418,002 shares of the health services provider’s stock valued at $37,950,000 after acquiring an additional 102,099 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Amedisys by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,296 shares of the health services provider’s stock worth $1,662,000 after purchasing an additional 1,625 shares during the period. Finally, Pinebridge Investments L.P. lifted its position in shares of Amedisys by 40.7% during the fourth quarter. Pinebridge Investments L.P. now owns 15,118 shares of the health services provider’s stock worth $1,373,000 after purchasing an additional 4,374 shares in the last quarter. 94.36% of the stock is currently owned by institutional investors and hedge funds.

Amedisys Stock Up 0.7 %

AMED stock opened at $94.27 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $92.17 and its two-hundred day moving average is $91.83. The stock has a market cap of $3.09 billion, a P/E ratio of 37.41, a PEG ratio of 1.78 and a beta of 0.89. Amedisys, Inc. has a twelve month low of $82.15 and a twelve month high of $98.95.

Amedisys (NASDAQ:AMED) last announced its earnings results on Wednesday, April 23rd. The health services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. The firm had revenue of $594.78 million during the quarter, compared to analysts’ expectations of $597.43 million. Amedisys had a return on equity of 12.20% and a net margin of 3.57%. Research analysts expect that Amedisys, Inc. will post 4.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMED. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Amedisys in a report on Wednesday, April 16th. Stephens reaffirmed an “equal weight” rating and issued a $101.00 price target on shares of Amedisys in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $100.75.

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.