Kindred Healthcare Inc. (KND) Shares Down 3.8%
Kindred Healthcare Inc. (NYSE:KND) fell 3.8% during mid-day trading on Wednesday . The company traded as low as $10.20 and last traded at $10.40, with a volume of 449,310 shares changing hands. The stock had previously closed at $10.81.
A number of research firms have recently issued reports on KND. Avondale Partners restated a “hold” rating on shares of Kindred Healthcare in a research report on Saturday, June 18th. Bank of America Corp. restated a “sell” rating and issued a $11.00 price target on shares of Kindred Healthcare in a research report on Friday, August 5th. Zacks Investment Research lowered Kindred Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Finally, Mizuho upped their price target on Kindred Healthcare from $9.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, May 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $13.57.
The company has a 50-day moving average price of $11.75 and a 200-day moving average price of $11.74. The stock has a market cap of $892.60 million and a P/E ratio of 13.53.
Kindred Healthcare (NYSE:KND) last posted its quarterly earnings results on Friday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. Kindred Healthcare’s revenue was up .5% on a year-over-year basis. On average, equities analysts predict that Kindred Healthcare Inc. will post $0.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Thursday, August 18th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.58%.
In other news, CAO John Joseph Lucchese sold 4,341 shares of Kindred Healthcare stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $11.39, for a total transaction of $49,443.99. Following the completion of the sale, the chief accounting officer now directly owns 34,130 shares in the company, valued at approximately $388,740.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Other hedge funds and institutional investors have modified their holdings of the company. Morgan Stanley boosted its position in shares of Kindred Healthcare by 49.4% in the fourth quarter. Morgan Stanley now owns 1,189,407 shares of the company’s stock worth $14,166,000 after buying an additional 393,128 shares during the period. Wells Fargo & Company MN boosted its position in shares of Kindred Healthcare by 520.3% in the fourth quarter. Wells Fargo & Company MN now owns 863,118 shares of the company’s stock worth $10,280,000 after buying an additional 723,970 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Kindred Healthcare during the fourth quarter worth $3,485,000. California Public Employees Retirement System boosted its position in shares of Kindred Healthcare by 4.4% in the fourth quarter. California Public Employees Retirement System now owns 291,919 shares of the company’s stock worth $3,477,000 after buying an additional 12,400 shares during the period. Finally, Royce & Associates LLC boosted its position in shares of Kindred Healthcare by 37.0% in the fourth quarter. Royce & Associates LLC now owns 185,000 shares of the company’s stock worth $2,203,000 after buying an additional 50,000 shares during the period.
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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