Addus HomeCare (NASDAQ:ADUS) Shares Gap Down on Disappointing Earnings

Addus HomeCare Co. (NASDAQ:ADUS) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $108.84, but opened at $99.75. Addus HomeCare shares last traded at $99.90, with a volume of 65,541 shares traded.

The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.09). The firm had revenue of $297.14 million for the quarter, compared to the consensus estimate of $291.04 million. Addus HomeCare had a return on equity of 9.62% and a net margin of 6.50%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stephens cut their price objective on Addus HomeCare from $153.00 to $142.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer lifted their price objective on Addus HomeCare from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Citizens Jmp raised Addus HomeCare to a “strong-buy” rating in a research note on Monday, December 16th. JMP Securities started coverage on Addus HomeCare in a research note on Monday, December 16th. They issued an “outperform” rating and a $150.00 price target on the stock. Finally, StockNews.com lowered Addus HomeCare from a “buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.89.

Insider Transactions at Addus HomeCare

In other Addus HomeCare news, EVP Roberton James Stevenson sold 2,250 shares of Addus HomeCare stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.00, for a total value of $272,250.00. Following the completion of the sale, the executive vice president now owns 10,217 shares of the company’s stock, valued at approximately $1,236,257. This trade represents a 18.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Dirk Allison sold 25,000 shares of Addus HomeCare stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $124.76, for a total value of $3,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 79,397 shares of the company’s stock, valued at approximately $9,905,569.72. The trade was a 23.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Addus HomeCare

Several hedge funds have recently bought and sold shares of ADUS. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Addus HomeCare in the third quarter worth about $1,622,000. JPMorgan Chase & Co. increased its holdings in Addus HomeCare by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,198 shares of the company’s stock worth $24,371,000 after purchasing an additional 16,997 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Addus HomeCare by 127.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 64,311 shares of the company’s stock worth $8,555,000 after purchasing an additional 36,071 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Addus HomeCare by 17.5% in the 3rd quarter. Principal Financial Group Inc. now owns 505,853 shares of the company’s stock valued at $67,293,000 after acquiring an additional 75,409 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Addus HomeCare by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 84,960 shares of the company’s stock valued at $11,302,000 after acquiring an additional 4,913 shares during the period. Institutional investors own 95.35% of the company’s stock.

Addus HomeCare Stock Performance

The firm has a market capitalization of $1.73 billion, a PE ratio of 21.89, a P/E/G ratio of 1.41 and a beta of 1.00. The stock has a fifty day moving average price of $123.26 and a 200-day moving average price of $126.28.

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.