Kindred Healthcare (KND) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Kindred Healthcare (NYSE:KND) from a buy rating to a hold rating in a research note issued to investors on Thursday, January 11th.

According to Zacks, “Kindred Healthcare, Inc., a top-105 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $6.1 billion(1). Kindred’s continuing operations, through its subsidiaries, had approximately 86,400 employees providing healthcare services in 2,475 locations in 45 states, including 77 long-term acute care hospitals, 19 inpatient rehabilitation hospitals, 16 sub-acute units, 609 Kindred at Home home health, hospice and non-medical home care sites of service, 101 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,653 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for eight years, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder they serve. “

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada reaffirmed a sector perform rating and set a $8.50 target price (up from $7.50) on shares of Kindred Healthcare in a research report on Thursday, November 9th. ValuEngine upgraded Kindred Healthcare from a sell rating to a hold rating in a report on Thursday, November 9th. Deutsche Bank reiterated a hold rating and issued a $9.00 price target (down from $10.00) on shares of Kindred Healthcare in a report on Monday, September 18th. Stifel Nicolaus upgraded Kindred Healthcare from a sell rating to a hold rating and set a $7.00 target price on the stock in a research note on Monday, November 20th. Finally, Mizuho set a $9.00 target price on Kindred Healthcare and gave the stock a hold rating in a research note on Monday, December 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $9.31.

Kindred Healthcare (NYSE:KND) opened at $9.30 on Thursday. The firm has a market capitalization of $836.92, a P/E ratio of -1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 6.22, a quick ratio of 1.53 and a current ratio of 1.55. Kindred Healthcare has a 1-year low of $5.50 and a 1-year high of $11.90.

Kindred Healthcare (NYSE:KND) last posted its quarterly earnings data on Monday, November 6th. The health services provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.08. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.44 billion. Kindred Healthcare had a positive return on equity of 2.29% and a negative net margin of 8.06%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. equities research analysts expect that Kindred Healthcare will post 0.31 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Kindred Healthcare by 0.3% during the 2nd quarter. BlackRock Inc. now owns 10,808,864 shares of the health services provider’s stock valued at $125,923,000 after purchasing an additional 29,673 shares during the last quarter. Vanguard Group Inc. grew its stake in Kindred Healthcare by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 8,031,919 shares of the health services provider’s stock valued at $93,572,000 after purchasing an additional 635,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Kindred Healthcare by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,004,440 shares of the health services provider’s stock worth $69,952,000 after purchasing an additional 315,752 shares during the period. JPMorgan Chase & Co. raised its holdings in Kindred Healthcare by 69.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,572,684 shares of the health services provider’s stock worth $24,830,000 after purchasing an additional 1,468,066 shares during the period. Finally, Glenview Capital Management LLC raised its holdings in Kindred Healthcare by 18.8% in the 2nd quarter. Glenview Capital Management LLC now owns 2,374,713 shares of the health services provider’s stock worth $27,665,000 after purchasing an additional 375,000 shares during the period. Institutional investors and hedge funds own 85.16% of the company’s stock.

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About Kindred Healthcare

Kindred Healthcare, Inc, incorporated on March 27, 1998, is a healthcare services company. The Company, through its subsidiaries, operates transitional care (TC) hospitals, a home health, hospice and community care business, inpatient rehabilitation hospitals (IRFs), a contract rehabilitation services business, nursing centers and assisted living facilities across the United States.

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