Zacks Investment Research downgraded shares of Kindred Healthcare (NYSE:KND) from a buy rating to a hold rating in a report published on Wednesday morning.
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 analysts also recently commented on the company. Mizuho set a $9.00 price objective on Kindred Healthcare and gave the stock a hold rating in a research report on Monday, December 18th. Stifel Nicolaus upgraded Kindred Healthcare from a sell rating to a hold rating and set a $7.00 price objective on the stock in a research report on Monday, November 20th. ValuEngine upgraded Kindred Healthcare from a sell rating to a hold rating in a research report on Thursday, November 9th. Royal Bank of Canada reduced their price objective on Kindred Healthcare from $9.00 to $7.50 and set a sector perform rating on the stock in a research report on Thursday, September 21st. Finally, Bank of America reduced their price objective on Kindred Healthcare from $7.50 to $6.50 and set an underperform rating on the stock in a research report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average price target of $9.31.
Kindred Healthcare (NYSE:KND) last issued its quarterly earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.08. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.44 billion. Kindred Healthcare had a positive return on equity of 2.29% and a negative net margin of 8.06%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. research analysts predict that Kindred Healthcare will post 0.31 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in KND. Schwab Charles Investment Management Inc. lifted its position in Kindred Healthcare by 23.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,129,938 shares of the health services provider’s stock worth $13,164,000 after buying an additional 217,196 shares in the last quarter. Principal Financial Group Inc. raised its position in Kindred Healthcare by 1.6% in the second quarter. Principal Financial Group Inc. now owns 696,172 shares of the health services provider’s stock valued at $8,111,000 after purchasing an additional 11,286 shares during the period. JPMorgan Chase & Co. raised its position in Kindred Healthcare by 149.4% in the second quarter. JPMorgan Chase & Co. now owns 2,104,618 shares of the health services provider’s stock valued at $24,518,000 after purchasing an additional 1,260,753 shares during the period. Martingale Asset Management L P purchased a new stake in Kindred Healthcare in the second quarter valued at $317,000. Finally, Teachers Advisors LLC raised its position in Kindred Healthcare by 8.1% in the second quarter. Teachers Advisors LLC now owns 162,452 shares of the health services provider’s stock valued at $1,893,000 after purchasing an additional 12,132 shares during the period. Hedge funds and other institutional investors own 85.16% of the company’s stock.
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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