Oppenheimer & Co. Inc. Reduces Stake in Addus HomeCare Co. (NASDAQ:ADUS)

Oppenheimer & Co. Inc. decreased its stake in shares of Addus HomeCare Co. (NASDAQ:ADUS) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,991 shares of the company’s stock after selling 910 shares during the period. Oppenheimer & Co. Inc.’s holdings in Addus HomeCare were worth $664,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its holdings in Addus HomeCare by 73.4% in the second quarter. Point72 Asset Management L.P. now owns 745,824 shares of the company’s stock worth $86,598,000 after buying an additional 315,602 shares during the last quarter. Millennium Management LLC lifted its position in Addus HomeCare by 412.7% during the second quarter. Millennium Management LLC now owns 316,418 shares of the company’s stock valued at $36,739,000 after purchasing an additional 254,705 shares during the period. Boston Partners purchased a new stake in Addus HomeCare in the first quarter worth approximately $12,215,000. Ghisallo Capital Management LLC bought a new stake in Addus HomeCare in the 2nd quarter worth approximately $11,611,000. Finally, Principal Financial Group Inc. raised its stake in Addus HomeCare by 17.5% during the 3rd quarter. Principal Financial Group Inc. now owns 505,853 shares of the company’s stock valued at $67,293,000 after buying an additional 75,409 shares during the last quarter. Institutional investors own 95.35% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael D. Wattenbarger sold 21,917 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $133.29, for a total transaction of $2,921,316.93. Following the transaction, the executive vice president now directly owns 7,215 shares of the company’s stock, valued at approximately $961,687.35. This trade represents a 75.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Esteban Lopez sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $127.50, for a total transaction of $63,750.00. Following the transaction, the director now owns 3,366 shares of the company’s stock, valued at approximately $429,165. This trade represents a 12.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,917 shares of company stock worth $3,050,082. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. KeyCorp initiated coverage on shares of Addus HomeCare in a research report on Friday, October 11th. They set an “overweight” rating and a $150.00 target price for the company. Macquarie reissued an “outperform” rating and issued a $139.00 target price on shares of Addus HomeCare in a report on Monday, November 4th. Stephens lifted their price target on shares of Addus HomeCare from $143.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $136.00 target price on shares of Addus HomeCare in a research note on Thursday, November 14th. Finally, TD Cowen raised their price target on Addus HomeCare from $128.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.63.

Addus HomeCare Price Performance

Shares of Addus HomeCare stock opened at $120.99 on Thursday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 2.09 and a beta of 1.04. Addus HomeCare Co. has a 12 month low of $85.43 and a 12 month high of $136.12. The business has a 50-day moving average of $128.52 and a 200 day moving average of $122.88.

Addus HomeCare (NASDAQ:ADUS) last posted its earnings results on Monday, November 4th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. Addus HomeCare had a return on equity of 9.62% and a net margin of 6.50%. The business had revenue of $289.80 million during the quarter, compared to the consensus estimate of $289.42 million. During the same period in the previous year, the business earned $1.03 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Addus HomeCare Co. will post 4.58 earnings per share for the current year.

About Addus HomeCare

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.