.jpg "Amedisys (NASDAQ: AMED)")
Oppenheimer analyst Michael Wiederhorn maintained a Buy rating on Amedisys (NASDAQ: AMED) today and set a price target of $125. The company’s shares closed yesterday at $117.54, close to its 52-week high of $118.63.
Wiederhorn noted:
“Following meetings with Amedisys management, we maintain our high conviction on the stock as the business appears well positioned within the high-growth homecare market. Regarding home health, the company continues to evaluate the recent regs, and is hopeful that CMS will either change or be forced to change the 6.2% behavioral adjustment that is presumptuously embedded in budget neutrality. Meanwhile, the company remains particularly bullish on the outlook for the hospice business, which generates robust margins that can be mirrored at acquired agencies. Following the bullish outlook, we are increasing our price target to $125 from $103.”
According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 17.1% and a 72.2% success rate. Wiederhorn covers the Services sector, focusing on stocks such as Cross Country Healthcare, Addus Homecare Corp, and The Ensign Group.
Currently, the analyst consensus on Amedisys is a Moderate Buy with an average price target of $112.86, a -4.0% downside from current levels. In a report issued on August 2, RBC Capital also reiterated a Buy rating on the stock with a $115 price target.
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Based on Amedisys’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $33.35 million. In comparison, last year the company had a net profit of $4.46 million.
Based on the recent corporate insider activity of 37 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.
