Bank of New York Mellon Corp Grows Stock Holdings in Addus HomeCare Corporation (NASDAQ:ADUS)

Bank of New York Mellon Corp lifted its holdings in shares of Addus HomeCare Corporation (NASDAQ:ADUS) by 40.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 164,118 shares of the company’s stock after acquiring an additional 47,222 shares during the period. Bank of New York Mellon Corp owned approximately 0.90% of Addus HomeCare worth $16,230,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. increased its stake in Addus HomeCare by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 19,661 shares of the company’s stock worth $2,465,000 after buying an additional 91 shares in the last quarter. Natixis increased its holdings in shares of Addus HomeCare by 111.9% in the 4th quarter. Natixis now owns 250 shares of the company’s stock valued at $31,000 after acquiring an additional 132 shares during the last quarter. Heritage Family Offices LLP increased its position in Addus HomeCare by 6.3% during the first quarter. Heritage Family Offices LLP now owns 2,417 shares of the company’s stock worth $239,000 after buying an additional 143 shares during the period. Stifel Financial Corp grew its holdings in shares of Addus HomeCare by 1.2% during the fourth quarter. Stifel Financial Corp now owns 12,794 shares of the company’s stock worth $1,604,000 after buying an additional 153 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of Addus HomeCare by 2.6% in the fourth quarter. CreativeOne Wealth LLC now owns 6,843 shares of the company’s stock valued at $858,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 95.35% of the company’s stock.

Insider Activity

In other news, EVP Michael D. Wattenbarger sold 2,045 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $235,175.00. Following the sale, the executive vice president directly owned 7,796 shares of the company’s stock, valued at $896,540. The trade was a 20.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen raised Addus HomeCare from a “hold” rating to a “buy” rating in a research note on Sunday, June 29th. Macquarie reiterated an “outperform” rating and issued a $133.00 target price on shares of Addus HomeCare in a report on Tuesday, June 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price objective on shares of Addus HomeCare in a research report on Wednesday. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $142.57.

Addus HomeCare Trading Down 2.4%

Addus HomeCare stock opened at $107.03 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market capitalization of $1.97 billion, a P/E ratio of 24.16, a PEG ratio of 1.52 and a beta of 0.81. Addus HomeCare Corporation has a 52 week low of $88.96 and a 52 week high of $136.72. The stock has a 50-day simple moving average of $112.44 and a 200 day simple moving average of $109.91.

Addus HomeCare (NASDAQ:ADUS) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.09. Addus HomeCare had a net margin of 6.52% and a return on equity of 9.23%. The company had revenue of $337.71 million during the quarter, compared to the consensus estimate of $341.66 million. During the same period in the prior year, the business earned $1.21 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. Analysts expect that Addus HomeCare Corporation will post 4.59 earnings per share for the current year.

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.