An issue of Kindred Healthcare, Inc. (NYSE:KND) bonds fell 1% against their face value during trading on Thursday after Bank of America Corporation lowered their price target on the stock from $7.50 to $6.50. The debt issue has a 8% coupon and will mature on January 15, 2020. The debt is now trading at $98.00 and was trading at $99.25 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.

Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating for the company in a research note on Thursday. Zacks Investment Research upgraded shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $9.00 price objective (down from $10.00) on shares of Kindred Healthcare in a report on Monday. BidaskClub downgraded shares of Kindred Healthcare from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Kindred Healthcare in a report on Monday, July 3rd. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.17.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Kindred Healthcare by 28.1% during the 1st quarter. SG Americas Securities LLC now owns 20,915 shares of the health services provider’s stock valued at $175,000 after buying an additional 4,584 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Kindred Healthcare by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,488,869 shares of the health services provider’s stock valued at $17,345,000 after buying an additional 34,553 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Kindred Healthcare by 149.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,104,618 shares of the health services provider’s stock valued at $24,518,000 after buying an additional 1,260,753 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Kindred Healthcare during the 1st quarter valued at $1,722,000. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in shares of Kindred Healthcare during the 1st quarter valued at $121,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.

The company’s market cap is $548.22 million. The firm’s 50 day moving average is $7.62 and its 200-day moving average is $9.24.

Kindred Healthcare (NYSE:KND) last issued its earnings results on Thursday, August 3rd. The health services provider reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. Kindred Healthcare had a negative net margin of 16.31% and a positive return on equity of 3.49%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. Kindred Healthcare’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities analysts expect that Kindred Healthcare, Inc. will post $0.42 earnings per share for the current year.

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Kindred Healthcare Company Profile

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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