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 stock was sold at an average price of $124.67, for a total transaction of $890,268.47. Following the sale, the executive vice president directly owned 7,303 shares of the company’s stock, valued at $910,465.01. The trade was a 49.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Addus HomeCare Price Performance

Shares of NASDAQ ADUS opened at $123.72 on Friday. The firm has a 50-day simple moving average of $118.30 and a 200-day simple moving average of $107.17. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75. Addus HomeCare Corporation has a 52 week low of $87.95 and a 52 week high of $131.59.

Addus HomeCare (NASDAQ:ADUS) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $388.72 million. During the same period in the previous year, the business posted $1.56 earnings per share. Addus HomeCare’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Addus HomeCare Corporation will post 6.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ADUS shares. Bank of America lowered shares of Addus HomeCare from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $125.00 in a research note on Monday, September 14th. Raymond James Financial set a $137.00 price target on Addus HomeCare in a research report on Monday, September 28th. Truist Financial increased their price target on Addus HomeCare from $135.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Weiss Ratings upgraded Addus HomeCare from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Finally, TD Cowen lifted their price objective on Addus HomeCare from $131.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.33.

Institutional Investors Weigh In On Addus HomeCare

Several hedge funds and other institutional investors have recently bought and sold shares of ADUS. First Trust Advisors LP raised its position in Addus HomeCare by 21.9% in the third quarter. First Trust Advisors LP now owns 39,432 shares of the company’s stock valued at $4,359,000 after purchasing an additional 7,084 shares during the period. Private Wealth Asset Management LLC acquired a new position in shares of Addus HomeCare in the 3rd quarter valued at $187,000. Private Advisor Group LLC grew its holdings in shares of Addus HomeCare by 15.5% during the 3rd quarter. Private Advisor Group LLC now owns 2,940 shares of the company’s stock worth $325,000 after purchasing an additional 394 shares during the period. Boston Partners grew its holdings in shares of Addus HomeCare by 18.0% during the 3rd quarter. Boston Partners now owns 290,332 shares of the company’s stock worth $32,222,000 after purchasing an additional 44,279 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of Addus HomeCare by 270.4% during the 3rd quarter. Global Retirement Partners LLC now owns 900 shares of the company’s stock worth $99,000 after purchasing an additional 657 shares during the period. 95.35% of the stock is currently owned by institutional investors and hedge funds.

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.