Insider Selling: Addus HomeCare (NASDAQ:ADUS) EVP Sells $890,268.47 in Stock

Addus HomeCare Corporation (NASDAQ:ADUS) EVP Michael Wattenbarger sold 7,141 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $124.67, for a total value of $890,268.47. Following the completion of the sale, the executive vice president owned 7,303 shares of the company’s stock, valued at approximately $910,465.01. This trade represents a 49.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Addus HomeCare Price Performance

ADUS stock traded up $3.87 during trading hours on Tuesday, hitting $126.29. 225,844 shares of the stock traded hands, compared to its average volume of 237,872. The stock has a 50-day simple moving average of $117.74 and a 200 day simple moving average of $106.95. The company has a market cap of $2.36 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.82 and a beta of 0.75. Addus HomeCare Corporation has a one year low of $87.95 and a one year high of $131.59. The company has a current ratio of 1.64, a quick ratio of 1.69 and a debt-to-equity ratio of 0.02.

Addus HomeCare (NASDAQ:ADUS) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.79 by $0.04. Addus HomeCare had a net margin of 7.39% and a return on equity of 10.22%. The firm had revenue of $387.74 million for the quarter, compared to analysts’ expectations of $388.72 million. During the same period in the previous year, the business earned $1.56 earnings per share. Addus HomeCare’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts forecast that Addus HomeCare Corporation will post 6.34 earnings per share for the current year.

Institutional Trading of Addus HomeCare

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its stake in Addus HomeCare by 73.3% during the second quarter. Hsbc Holdings PLC now owns 24,463 shares of the company’s stock valued at $2,446,000 after buying an additional 10,350 shares in the last quarter. Summit Creek Advisors LLC purchased a new position in shares of Addus HomeCare in the second quarter worth approximately $8,552,000. Bank of America Corp DE increased its position in shares of Addus HomeCare by 11.3% in the first quarter. Bank of America Corp DE now owns 323,037 shares of the company’s stock worth $30,252,000 after acquiring an additional 32,714 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of Addus HomeCare during the second quarter valued at approximately $1,635,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Addus HomeCare during the second quarter valued at approximately $901,000. Institutional investors and hedge funds own 95.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADUS. Barclays raised their target price on shares of Addus HomeCare from $96.00 to $101.00 and gave the stock an “underweight” rating in a report on Wednesday, November 4th. Royal Bank Of Canada upped their price target on Addus HomeCare from $130.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Addus HomeCare from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. UBS Group raised their price objective on Addus HomeCare from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Finally, Citigroup lowered Addus HomeCare from a “market outperform” rating to a “neutral” rating in a research note on Monday, September 14th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.70.

About Addus HomeCare

Addus HomeCare Corporation provides home-based care services to older adults and people with disabilities. Its services are designed to help clients receive care at home and in other community-based settings. The company operates through personal care, hospice and home health services. Personal care includes assistance with daily activities; hospice provides end-of-life care and support; and home health offers skilled nursing and therapy services. Founded in 1979, Addus serves communities across multiple states.