State of Alaska Department of Revenue Lowers Position in Addus HomeCare Corporation (NASDAQ:ADUS)

State of Alaska Department of Revenue cut its holdings in Addus HomeCare Corporation (NASDAQ:ADUS) by 2.2% in the first quarter, Holdings Channel reports. The fund owned 9,936 shares of the company’s stock after selling 223 shares during the quarter. State of Alaska Department of Revenue’s holdings in Addus HomeCare were worth $982,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Addus HomeCare by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 692,713 shares of the company’s stock worth $86,833,000 after acquiring an additional 10,434 shares during the period. Capital Research Global Investors purchased a new stake in Addus HomeCare in the fourth quarter worth about $51,149,000. Invesco Ltd. lifted its stake in Addus HomeCare by 6.5% in the fourth quarter. Invesco Ltd. now owns 346,120 shares of the company’s stock worth $43,386,000 after acquiring an additional 21,266 shares during the period. Northern Trust Corp lifted its stake in Addus HomeCare by 3.3% in the fourth quarter. Northern Trust Corp now owns 285,872 shares of the company’s stock worth $35,834,000 after acquiring an additional 9,122 shares during the period. Finally, American Century Companies Inc. lifted its stake in Addus HomeCare by 695.8% in the fourth quarter. American Century Companies Inc. now owns 284,346 shares of the company’s stock worth $35,643,000 after acquiring an additional 248,613 shares during the period. 95.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total value of $235,175.00. Following the transaction, the executive vice president now owns 7,796 shares in the company, valued at approximately $896,540. This represents a 20.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.60% of the company’s stock.

Addus HomeCare Stock Performance

ADUS opened at $115.64 on Friday. Addus HomeCare Corporation has a 52-week low of $88.96 and a 52-week high of $136.72. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.13 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. The firm’s 50-day moving average price is $109.96 and its 200-day moving average price is $111.78.

Addus HomeCare (NASDAQ:ADUS) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $337.71 million for the quarter, compared to the consensus estimate of $341.66 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. As a group, equities analysts anticipate that Addus HomeCare Corporation will post 4.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ADUS shares. JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Addus HomeCare in a report on Friday, June 20th. Wall Street Zen downgraded shares of Addus HomeCare from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Stephens reiterated an “overweight” rating and issued a $142.00 target price on shares of Addus HomeCare in a report on Wednesday, March 12th. Finally, Macquarie reiterated an “outperform” rating and issued a $133.00 target price on shares of Addus HomeCare in a report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Addus HomeCare presently has a consensus rating of “Buy” and an average price target of $142.57.

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.