Kindred Healthcare Inc. (KND) Shares Up 4%
Kindred Healthcare Inc. (NYSE:KND)’s share price shot up 4% during mid-day trading on Tuesday . The company traded as high as $10.90 and last traded at $10.84, with a volume of 395,740 shares trading hands. The stock had previously closed at $10.42.
A number of brokerages recently issued reports on KND. Zacks Investment Research downgraded Kindred Healthcare from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Bank of America Corp. reaffirmed a “sell” rating and issued a $11.00 price target on shares of Kindred Healthcare in a report on Friday, August 5th. Mizuho lowered their price target on Kindred Healthcare from $13.50 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, July 6th. Finally, Avondale Partners reaffirmed a “hold” rating on shares of Kindred Healthcare in a report on Saturday, June 18th. Two research 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $13.57.
The firm’s 50 day moving average is $11.65 and its 200-day moving average is $11.77. The stock has a market capitalization of $926.70 million and a price-to-earnings ratio of 14.04.
Kindred Healthcare (NYSE:KND) last announced its earnings results on Friday, August 5th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, analysts predict that Kindred Healthcare Inc. will post $0.90 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Thursday, August 18th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 4.42%.
In related news, CAO John Joseph Lucchese sold 4,341 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $11.39, for a total transaction of $49,443.99. Following the sale, the chief accounting officer now directly owns 34,130 shares in the company, valued at approximately $388,740.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Other large investors recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its stake in shares of Kindred Healthcare by 34.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 114,024 shares of the company’s stock valued at $1,358,000 after buying an additional 29,232 shares during the last quarter. Royce & Associates LLC increased its stake 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 valued at $2,203,000 after buying an additional 50,000 shares during the last quarter. California Public Employees Retirement System increased its stake 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 valued at $3,477,000 after buying an additional 12,400 shares during the last quarter. Wells Fargo & Company MN increased its stake 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 valued at $10,280,000 after buying an additional 723,970 shares during the last quarter. Finally, Morgan Stanley increased its stake 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 valued at $14,166,000 after buying an additional 393,128 shares during the last quarter.
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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