Zacks Investment Research Lowers Kindred Healthcare (KND) to Hold

Zacks Investment Research lowered shares of Kindred Healthcare (NYSE:KND) from a buy rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “Kindred Healthcare, Inc., a top-105 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $6.1 billion(1). Kindred’s continuing operations, through its subsidiaries, had approximately 86,400 employees providing healthcare services in 2,475 locations in 45 states, including 77 long-term acute care hospitals, 19 inpatient rehabilitation hospitals, 16 sub-acute units, 609 Kindred at Home home health, hospice and non-medical home care sites of service, 101 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,653 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for eight years, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder they serve. “

A number of other equities research analysts have also issued reports on KND. Deutsche Bank reissued a hold rating and issued a $9.00 target price (down previously from $10.00) on shares of Kindred Healthcare in a research report on Monday, September 18th. Royal Bank of Canada decreased their price target on Kindred Healthcare from $9.00 to $7.50 and set a sector perform rating for the company in a research note on Thursday, September 21st. Bank of America decreased their price target on Kindred Healthcare from $7.50 to $6.50 and set an underperform rating for the company in a research note on Thursday, September 21st. Mizuho restated a neutral rating and issued a $7.50 price target (down from $8.00) on shares of Kindred Healthcare in a research note on Tuesday, October 10th. Finally, ValuEngine upgraded Kindred Healthcare from a sell rating to a hold rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Kindred Healthcare presently has a consensus rating of Hold and a consensus target price of $9.31.

Shares of Kindred Healthcare (NYSE:KND) remained flat at $$9.25 during trading on Thursday. 532,900 shares of the company were exchanged, compared to its average volume of 1,245,533. Kindred Healthcare has a 52-week low of $5.50 and a 52-week high of $11.90. The firm has a market cap of $804.13, a price-to-earnings ratio of -4.70 and a beta of 1.20. The company has a debt-to-equity ratio of 6.22, a quick ratio of 1.53 and a current ratio of 1.55.

Kindred Healthcare (NYSE:KND) last announced its earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.08. Kindred Healthcare had a positive return on equity of 2.29% and a negative net margin of 8.06%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm earned $0.05 EPS. Kindred Healthcare’s revenue for the quarter was down 5.5% compared to the same quarter last year. sell-side analysts predict that Kindred Healthcare will post 0.31 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Kindred Healthcare by 0.3% in the second quarter. BlackRock Inc. now owns 10,808,864 shares of the health services provider’s stock valued at $125,923,000 after purchasing an additional 29,673 shares in the last quarter. Vanguard Group Inc. grew its stake in Kindred Healthcare by 8.6% in the second quarter. Vanguard Group Inc. now owns 8,031,919 shares of the health services provider’s stock valued at $93,572,000 after purchasing an additional 635,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Kindred Healthcare by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,004,440 shares of the health services provider’s stock valued at $69,952,000 after purchasing an additional 315,752 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Kindred Healthcare by 69.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,572,684 shares of the health services provider’s stock worth $24,830,000 after acquiring an additional 1,468,066 shares during the period. Finally, Glenview Capital Management LLC boosted its stake in shares of Kindred Healthcare by 18.8% during the 2nd quarter. Glenview Capital Management LLC now owns 2,374,713 shares of the health services provider’s stock worth $27,665,000 after acquiring an additional 375,000 shares during the period. Hedge funds and other institutional investors own 85.16% of the company’s stock.

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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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