Morgan Stanley Buys 22,578 Shares of Amedisys, Inc. (NASDAQ:AMED)

Morgan Stanley grew its stake in Amedisys, Inc. (NASDAQ:AMED) by 120.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 41,358 shares of the health services provider’s stock after purchasing an additional 22,578 shares during the quarter. Morgan Stanley’s holdings in Amedisys were worth $12,131,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Amedisys during the fourth quarter valued at approximately $28,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Amedisys during the fourth quarter valued at approximately $32,000. Paces Ferry Wealth Advisors LLC bought a new position in shares of Amedisys during the third quarter valued at approximately $42,000. Birchcreek Wealth Management LLC bought a new position in shares of Amedisys during the fourth quarter valued at approximately $67,000. Finally, Kinloch Capital LLC bought a new position in shares of Amedisys during the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 85.87% of the company’s stock.

In related news, insider David L. Kemmerly sold 503 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $270.00, for a total transaction of $135,810.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott G. Ginn sold 975 shares of the firm’s stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $260.40, for a total transaction of $253,890.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,382 shares of company stock valued at $1,209,687. 2.80% of the stock is currently owned by corporate insiders.

NASDAQ AMED opened at $281.04 on Wednesday. The company has a fifty day simple moving average of $267.09 and a two-hundred day simple moving average of $271.06. The stock has a market cap of $9.23 billion, a P/E ratio of 56.32, a P/E/G ratio of 3.18 and a beta of 0.77. Amedisys, Inc. has a 12-month low of $165.42 and a 12-month high of $325.12. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40.

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

A number of equities analysts have recently issued reports on AMED shares. Truist increased their price objective on shares of Amedisys from $280.00 to $325.00 in a research note on Tuesday, January 5th. Benchmark raised their target price on shares of Amedisys from $275.00 to $325.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $268.64.

Amedisys Company 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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