California Public Employees Retirement System Lowers Stake in Amedisys Inc (AMED)

California Public Employees Retirement System cut its stake in shares of Amedisys Inc (NASDAQ:AMED) by 16.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,536 shares of the health services provider’s stock after selling 11,458 shares during the period. California Public Employees Retirement System owned 0.18% of Amedisys worth $4,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Amedisys during the 2nd quarter worth $149,000. Moneta Group Investment Advisors LLC purchased a new stake in Amedisys during the 2nd quarter worth $181,000. Cubist Systematic Strategies LLC boosted its position in Amedisys by 1,086.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,372 shares of the health services provider’s stock worth $203,000 after purchasing an additional 2,172 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in Amedisys during the 1st quarter worth $151,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Amedisys during the 2nd quarter worth $217,000. 93.31% of the stock is owned by institutional investors.

A number of analysts recently weighed in on the stock. Bank of America set a $139.00 price target on shares of Amedisys and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Canaccord Genuity assumed coverage on shares of Amedisys in a research report on Thursday, September 13th. They set a “neutral” rating and a $117.00 price target for the company. ValuEngine raised shares of Amedisys from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 30th. BidaskClub cut shares of Amedisys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird upped their price target on shares of Amedisys from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, October 11th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Amedisys currently has a consensus rating of “Buy” and an average target price of $95.38.

NASDAQ:AMED opened at $110.62 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 1.89 and a beta of 1.00. Amedisys Inc has a 1-year low of $45.60 and a 1-year high of $127.38.

Amedisys (NASDAQ:AMED) last posted its quarterly earnings data on Tuesday, July 31st. The health services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.22. The company had revenue of $411.60 million during the quarter, compared to analysts’ expectations of $403.62 million. Amedisys had a net margin of 4.46% and a return on equity of 20.11%. During the same period in the prior year, the company posted $0.62 EPS. As a group, sell-side analysts expect that Amedisys Inc will post 3.41 earnings per share for the current fiscal year.

In other news, insider David B. Pearce sold 398 shares of the company’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $94.18, for a total value of $37,483.64. Following the sale, the insider now owns 12,216 shares in the company, valued at approximately $1,150,502.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

About Amedisys

Amedisys, Inc, together with its subsidiaries, provides healthcare services in the United States. It operates through three segments: Home Health, Hospice, and Personal 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, physical and speech therapists, occupational therapists, and aides for its patients to complete their important personal tasks.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Amedisys (NASDAQ:AMED)

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