Fulcrum Equity Management Invests $1.77 Million in Amedisys, Inc. (NASDAQ:AMED)


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Fulcrum Equity Management acquired a new position in Amedisys, Inc. (NASDAQ:AMED) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 6,700 shares of the health services provider’s stock, valued at approximately $1,774,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Paragon Advisors LLC bought a new position in shares of Amedisys in the fourth quarter worth about $1,041,000. Bank of New York Mellon Corp boosted its stake in shares of Amedisys by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 364,291 shares of the health services provider’s stock worth $106,857,000 after acquiring an additional 2,800 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Amedisys by 13.1% in the fourth quarter. Alliancebernstein L.P. now owns 462,477 shares of the health services provider’s stock worth $135,658,000 after acquiring an additional 53,555 shares during the period. National Asset Management Inc. boosted its stake in shares of Amedisys by 43.5% in the fourth quarter. National Asset Management Inc. now owns 3,475 shares of the health services provider’s stock worth $1,020,000 after acquiring an additional 1,054 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Amedisys in the third quarter worth about $1,236,000. 85.87% of the stock is owned by hedge funds and other institutional investors.

AMED traded up $3.26 during trading on Thursday, hitting $270.99. 1,953 shares of the stock were exchanged, compared to its average volume of 203,506. The firm has a 50 day simple moving average of $267.01 and a 200 day simple moving average of $267.99. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 53.65, a P/E/G ratio of 3.18 and a beta of 0.77. Amedisys, Inc. has a 1 year low of $165.42 and a 1 year high of $325.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94.

Amedisys (NASDAQ:AMED) last released its quarterly earnings data on Tuesday, February 23rd. The health services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.47 by $0.02. The company had revenue of $550.71 million for the quarter, compared to the consensus estimate of $551.91 million. Amedisys had a return on equity of 26.41% and a net margin of 8.22%. During the same period last year, the business posted $0.94 EPS. As a group, equities analysts anticipate that Amedisys, Inc. will post 6.07 earnings per share for the current fiscal year.

A number of equities analysts recently commented on the company. Benchmark increased their price target on Amedisys from $275.00 to $325.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Truist increased their price target on Amedisys from $280.00 to $325.00 in a research note on Tuesday, January 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Amedisys from $275.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, February 8th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $268.64.

In other news, CFO Scott G. Ginn sold 975 shares of the firm’s stock in a transaction on Friday, January 29th. The stock was sold at an average price of $286.87, for a total value of $279,698.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise M. Bohnert sold 526 shares of the firm’s stock in a transaction on Wednesday, January 20th. The stock was sold at an average price of $300.84, for a total value of $158,241.84. Following the completion of the sale, the insider now directly owns 9,259 shares of the company’s stock, valued at approximately $2,785,477.56. The disclosure for this sale can be found here. Insiders sold a total of 4,408 shares of company stock worth $1,227,928 over the last quarter. Company insiders own 2.80% of the company’s stock.

Amedisys Profile

Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, and Personal 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; rehabilitation therapists specialized in physical, speech, and occupational therapy; and social workers and aides for assisting its patients.

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Institutional Ownership by Quarter for Amedisys (NASDAQ:AMED)

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