Kindred Healthcare (KND) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Kindred Healthcare (NYSE:KND) from a hold rating to a buy rating in a report published on Wednesday. They currently have $11.00 price target on the health services provider’s stock.
According to Zacks, “Kindred Healthcare, Inc., a top-105 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $6.1 billion(1). Kindred’s continuing operations, through its subsidiaries, had approximately 86,400 employees providing healthcare services in 2,475 locations in 45 states, including 77 long-term acute care hospitals, 19 inpatient rehabilitation hospitals, 16 sub-acute units, 609 Kindred at Home home health, hospice and non-medical home care sites of service, 101 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,653 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for eight years, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder they serve. “
Other equities research analysts have also issued reports about the company. Stifel Nicolaus upgraded Kindred Healthcare from a sell rating to a hold rating and set a $7.00 price target on the stock in a research report on Monday, November 20th. Deutsche Bank restated a hold rating and set a $9.00 price target (down from $10.00) on shares of Kindred Healthcare in a research report on Monday, September 18th. Mizuho restated a neutral rating and set a $7.50 price target (down from $8.00) on shares of Kindred Healthcare in a research report on Tuesday, October 10th. ValuEngine raised Kindred Healthcare from a sell rating to a hold rating in a report on Thursday, November 9th. Finally, Royal Bank of Canada dropped their target price on Kindred Healthcare from $9.00 to $7.50 and set a sector perform rating on the stock in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $9.31.
Kindred Healthcare (NYSE:KND) remained flat at $$9.25 during midday trading on Wednesday. 532,985 shares of the company traded hands, compared to its average volume of 2,701,676. The company has a quick ratio of 1.53, a current ratio of 1.55 and a debt-to-equity ratio of 6.22. Kindred Healthcare has a 52-week low of $5.50 and a 52-week high of $11.90. The company has a market capitalization of $846.07, a P/E ratio of 46.25 and a beta of 1.20.
Kindred Healthcare (NYSE:KND) last released its quarterly earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. Kindred Healthcare had a positive return on equity of 2.29% and a negative net margin of 8.06%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. equities analysts expect that Kindred Healthcare will post 0.31 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in KND. Schwab Charles Investment Management Inc. boosted its holdings in Kindred Healthcare by 23.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,129,938 shares of the health services provider’s stock worth $13,164,000 after acquiring an additional 217,196 shares in the last quarter. Rhumbline Advisers boosted its holdings in Kindred Healthcare by 0.3% in the second quarter. Rhumbline Advisers now owns 178,931 shares of the health services provider’s stock worth $2,085,000 after acquiring an additional 449 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Kindred Healthcare by 35.8% in the second quarter. SG Americas Securities LLC now owns 28,396 shares of the health services provider’s stock worth $331,000 after acquiring an additional 7,481 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Kindred Healthcare by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 1,488,869 shares of the health services provider’s stock worth $17,345,000 after acquiring an additional 34,553 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Kindred Healthcare by 0.9% in the second quarter. Legal & General Group Plc now owns 355,649 shares of the health services provider’s stock worth $4,143,000 after acquiring an additional 3,018 shares in the last quarter. 85.16% of the stock is currently owned by institutional investors and hedge funds.
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About Kindred Healthcare
Kindred Healthcare, Inc, incorporated on March 27, 1998, is a healthcare services company. The Company, through its subsidiaries, operates transitional care (TC) hospitals, a home health, hospice and community care business, inpatient rehabilitation hospitals (IRFs), a contract rehabilitation services business, nursing centers and assisted living facilities across the United States.
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