Short Interest in Amedisys, Inc. (NASDAQ:AMED) Rises By 37.8%

Amedisys, Inc. (NASDAQ:AMED) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,260,000 shares, an increase of 37.8% from the October 15th total of 1,640,000 shares. Based on an average daily trading volume, of 387,600 shares, the days-to-cover ratio is currently 5.8 days. Approximately 7.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Amedisys

A number of hedge funds have recently modified their holdings of AMED. Holocene Advisors LP boosted its stake in shares of Amedisys by 391.4% in the third quarter. Holocene Advisors LP now owns 79,036 shares of the health services provider’s stock valued at $7,628,000 after purchasing an additional 62,953 shares during the period. ClearAlpha Technologies LP lifted its stake in Amedisys by 19.3% in the third quarter. ClearAlpha Technologies LP now owns 77,861 shares of the health services provider’s stock worth $7,514,000 after acquiring an additional 12,612 shares during the last quarter. Bardin Hill Management Partners LP grew its holdings in Amedisys by 3.2% during the 3rd quarter. Bardin Hill Management Partners LP now owns 124,342 shares of the health services provider’s stock worth $12,000,000 after acquiring an additional 3,871 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Amedisys in the 3rd quarter valued at approximately $4,666,000. Finally, Westchester Capital Management LLC raised its holdings in shares of Amedisys by 9.5% in the 3rd quarter. Westchester Capital Management LLC now owns 1,118,802 shares of the health services provider’s stock valued at $107,976,000 after purchasing an additional 97,476 shares in the last quarter. 94.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on AMED shares. Cantor Fitzgerald restated a “neutral” rating and set a $101.00 price objective on shares of Amedisys in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lowered shares of Amedisys from a “buy” rating to a “hold” rating and set a $101.00 price target on the stock. in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.67.

Amedisys Price Performance

Shares of AMED stock traded down $0.19 during mid-day trading on Friday, hitting $90.10. 205,090 shares of the stock were exchanged, compared to its average volume of 356,592. Amedisys has a 52-week low of $89.55 and a 52-week high of $98.95. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.95 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 1.86 and a beta of 0.78. The firm has a fifty day moving average of $96.18 and a 200 day moving average of $95.81.

Amedisys (NASDAQ:AMED) last issued its quarterly earnings data on Wednesday, November 6th. The health services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.19). The business had revenue of $587.67 million during the quarter, compared to analyst estimates of $586.75 million. Amedisys had a net margin of 3.57% and a return on equity of 12.20%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. Research analysts anticipate that Amedisys will post 4.66 earnings per share for the current year.

About Amedisys

Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, and High Acuity 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; nursing services, rehabilitation therapists specialized in physical, speech, and occupational therapy; and social workers and aides for assisting its patients.