Zacks Investment Research Upgrades Kindred Healthcare, Inc. (KND) to “Buy”
Kindred Healthcare, Inc. (NYSE:KND) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $9.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 14.65% from the company’s previous close.
According to Zacks, “Kindred Healthcare, Inc. is one of the largest providers of long-term healthcare services in the United States. Their health services division provides long-term care services by operating nursing centers and a rehabilitation therapy business, and their hospital division provides long-term acute care services by operating hospitals and an institutional pharmacy business. “
A number of other equities research analysts have also weighed in on KND. J P Morgan Chase & Co reiterated a “hold” rating and set a $11.00 target price on shares of Kindred Healthcare in a research note on Thursday, November 10th. TheStreet lowered shares of Kindred Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, November 8th. Royal Bank Of Canada lowered shares of Kindred Healthcare from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $16.00 to $9.00 in a research note on Thursday, November 10th. RBC Capital Markets reiterated a “hold” rating and set a $9.00 target price on shares of Kindred Healthcare in a research note on Tuesday, January 3rd. Finally, BMO Capital Markets lowered shares of Kindred Healthcare to an “underperform” rating in a research note on Thursday, November 10th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Kindred Healthcare currently has a consensus rating of “Hold” and a consensus target price of $10.22.
Shares of Kindred Healthcare (NYSE:KND) traded down 1.27% during midday trading on Wednesday, hitting $7.75. The company had a trading volume of 200,480 shares. The firm’s market capitalization is $659.99 million. The stock has a 50 day moving average price of $7.60 and a 200 day moving average price of $9.61. Kindred Healthcare has a 1-year low of $5.65 and a 1-year high of $15.66.
Kindred Healthcare (NYSE:KND) last announced its earnings results on Monday, November 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Kindred Healthcare had a negative net margin of 8.31% and a positive return on equity of 5.78%. Kindred Healthcare’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, equities analysts anticipate that Kindred Healthcare will post $0.74 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Kindred Healthcare during the third quarter worth about $206,000. Verition Fund Management LLC acquired a new stake in shares of Kindred Healthcare during the third quarter worth about $140,000. Panagora Asset Management Inc. increased its stake in shares of Kindred Healthcare by 50.8% in the third quarter. Panagora Asset Management Inc. now owns 377,744 shares of the company’s stock worth $3,860,000 after buying an additional 127,211 shares during the last quarter. Clinton Group Inc. increased its stake in shares of Kindred Healthcare by 349.2% in the third quarter. Clinton Group Inc. now owns 53,894 shares of the company’s stock worth $551,000 after buying an additional 41,895 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Kindred Healthcare during the third quarter worth about $589,000. 96.74% of the stock is owned by hedge funds and other institutional investors.
Kindred Healthcare Company Profile
Kindred Healthcare, Inc is a healthcare services company. The Company operates through four divisions, including the hospital division, the Kindred at Home division, the Kindred Rehabilitation Services division and the nursing center division. Its divisions represent over six segments, including hospitals, home health services, hospice services, Kindred Hospital Rehabilitation Services, RehabCare and nursing centers.
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