In a report released today, Michael Wiederhorn from Oppenheimer maintained a Buy rating on Amedisys (NASDAQ: AMED), with a price target of $85. The company’s shares closed yesterday at $77.04, close to its 52-week high of $77.92.
Wiederhorn said:
“Amedisys announced it has repurchased 2.4M shares from KKR at 96% of Monday’s closing price, equating to a total amount of $178M. The repurchase of 7% of its outstanding shares is expected to be 6-7% accretive, as it largely leverages the company’s large cash balance. Following the announcement, we are raising our FY2018/2019 EPS estimates to $3.18/$3.73 from $3.07/$3.50 and our price target to $85 from $77.”
According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 15.8% and a 72.0% success rate. Wiederhorn covers the Services sector, focusing on stocks such as Cross Country Healthcare, Addus Homecare Corp, and Envision Healthcare.
Amedisys has an analyst consensus of Strong Buy, with a price target consensus of $75.80.
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Amedisys’ market cap is currently $2.62B and has a P/E ratio of 62.63. The company has a Price to Book ratio of 4.79.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock.
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Amedisys, Inc. engages in the provision of healthcare services. It operates through the following business segments: Home Health, Hospice, and Personal Care. The Home Health segment delivers services in the homes of individuals who may be recovering from an illness, injury, or surgery.
