Zacks Investment Research Upgrades Kindred Healthcare, Inc. (KND) to Hold
Zacks Investment Research upgraded shares of Kindred Healthcare, Inc. (NYSE:KND) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
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 analysts have also recently weighed in on the company. Deutsche Bank AG reissued a hold rating and issued a $9.00 price target (down previously from $10.00) on shares of Kindred Healthcare in a research note on Monday, September 18th. BidaskClub cut Kindred Healthcare from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Finally, Mizuho reissued a neutral rating and issued a $9.00 price target on shares of Kindred Healthcare in a research note on Monday, July 3rd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $9.17.
Kindred Healthcare (KND) opened at 6.25 on Tuesday. Kindred Healthcare has a 12-month low of $5.65 and a 12-month high of $11.90. The stock’s market capitalization is $543.87 million. The firm has a 50-day moving average of $7.62 and a 200-day moving average of $9.24.
Kindred Healthcare (NYSE:KND) last issued its quarterly 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. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Kindred Healthcare had a positive return on equity of 3.49% and a negative net margin of 16.31%. Kindred Healthcare’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Equities research analysts forecast that Kindred Healthcare will post $0.35 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Kindred Healthcare by 0.3% during the 2nd quarter. BlackRock Inc. now owns 10,808,864 shares of the health services provider’s stock valued at $125,923,000 after acquiring an additional 29,673 shares in the last quarter. Vanguard Group Inc. grew its stake in Kindred Healthcare by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 8,031,919 shares of the health services provider’s stock valued at $93,572,000 after acquiring an additional 635,000 shares in the last quarter. Wellington Management Group LLP grew its stake in Kindred Healthcare by 40.9% during the 1st quarter. Wellington Management Group LLP now owns 7,945,247 shares of the health services provider’s stock valued at $66,342,000 after acquiring an additional 2,307,814 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Kindred Healthcare by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,004,440 shares of the health services provider’s stock valued at $69,952,000 after acquiring an additional 315,752 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Kindred Healthcare by 0.6% during the 1st quarter. Bank of America Corp DE now owns 2,425,910 shares of the health services provider’s stock valued at $20,257,000 after acquiring an additional 13,774 shares in the last quarter. 88.14% of the stock is currently owned by institutional investors.
About Kindred Healthcare
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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