PNC Financial Services Group Inc. Trims Stock Position in Addus HomeCare Co. (NASDAQ:ADUS)

PNC Financial Services Group Inc. lessened its position in Addus HomeCare Co. (NASDAQ:ADUS) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,646 shares of the company’s stock after selling 656 shares during the period. PNC Financial Services Group Inc.’s holdings in Addus HomeCare were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of Addus HomeCare by 0.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,310 shares of the company’s stock valued at $1,329,000 after buying an additional 113 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Addus HomeCare in the fourth quarter valued at approximately $26,000. Tudor Investment Corp Et Al raised its position in shares of Addus HomeCare by 0.7% in the third quarter. Tudor Investment Corp Et Al now owns 40,784 shares of the company’s stock valued at $3,474,000 after buying an additional 295 shares during the last quarter. Sheets Smith Wealth Management raised its position in shares of Addus HomeCare by 4.6% in the fourth quarter. Sheets Smith Wealth Management now owns 7,207 shares of the company’s stock valued at $669,000 after buying an additional 315 shares during the last quarter. Finally, Mariner LLC raised its position in shares of Addus HomeCare by 5.5% in the third quarter. Mariner LLC now owns 6,621 shares of the company’s stock valued at $564,000 after buying an additional 346 shares during the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Addus HomeCare from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. TD Cowen upped their price target on shares of Addus HomeCare from $119.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Oppenheimer upped their price target on shares of Addus HomeCare from $118.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $102.00 price target on shares of Addus HomeCare in a research report on Thursday, February 29th. Finally, Stephens upped their price target on shares of Addus HomeCare from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Addus HomeCare has a consensus rating of “Moderate Buy” and an average price target of $113.43.

Addus HomeCare Price Performance

ADUS opened at $119.52 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.14. Addus HomeCare Co. has a 52-week low of $78.35 and a 52-week high of $120.53. The company has a 50 day moving average of $108.99 and a two-hundred day moving average of $99.65. The company has a market cap of $1.96 billion, a P/E ratio of 29.66, a P/E/G ratio of 2.30 and a beta of 1.02.

Addus HomeCare (NASDAQ:ADUS) last released its quarterly earnings data on Monday, May 6th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.24. Addus HomeCare had a net margin of 6.04% and a return on equity of 10.03%. The company had revenue of $280.70 million during the quarter, compared to the consensus estimate of $279.49 million. During the same period in the previous year, the firm earned $0.84 earnings per share. Addus HomeCare’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts expect that Addus HomeCare Co. will post 4.36 earnings per share for the current year.

Insider Activity

In other news, EVP Roberton James Stevenson sold 217 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $116.13, for a total value of $25,200.21. Following the completion of the transaction, the executive vice president now directly owns 10,217 shares in the company, valued at $1,186,500.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

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.