Price Action to Note: What’s Propelling Addus Homecare Corporation to Reach 52-Week High?

Price Action to Note: What's Propelling Addus Homecare Corporation to Reach 52 Week High?

The stock of Addus Homecare Corporation (NASDAQ:ADUS) hit a new 52-week high and has $37.94 target or 8.00% above today’s $35.13 share price. The 7 months bullish chart indicates low risk for the $408.76M company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $37.94 price target is reached, the company will be worth $32.70 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 70,799 shares traded hands. Addus Homecare Corporation (NASDAQ:ADUS) has risen 72.24% since April 26, 2016 and is uptrending. It has outperformed by 66.98% the S&P500.

Analysts await Addus Homecare Corporation (NASDAQ:ADUS) to report earnings on March, 6. They expect $0.37 earnings per share, up 27.59% or $0.08 from last year’s $0.29 per share. ADUS’s profit will be $4.31M for 23.74 P/E if the $0.37 EPS becomes a reality. After $0.36 actual earnings per share reported by Addus Homecare Corporation for the previous quarter, Wall Street now forecasts 2.78% EPS growth.

According to Zacks Investment Research, “ADDUS HOMECARE is a comprehensive provider of a broad range of social and medical services in the home. The company’s services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Its consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Its payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus operates its business through two divisions, home & community services and home health services. The home & community services are social, or non-medical, in nature and include assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living whereas the home health services are medical in nature and include physical, occupational and speech therapy, as well as skilled nursing.”

Insitutional Activity: The institutional sentiment increased to 2.1 in Q2 2016. Its up 0.80, from 1.3 in 2016Q1. The ratio is positive, as 16 funds sold all Addus Homecare Corporation shares owned while 14 reduced positions. 7 funds bought stakes while 32 increased positions. They now own 10.00 million shares or 3.59% less from 10.37 million shares in 2016Q1.
Moreover, Wedge Capital Mgmt L Lp Nc has 0% invested in Addus Homecare Corporation (NASDAQ:ADUS) for 25,800 shares. The Maryland-based Brown Advisory has invested 0.02% in Addus Homecare Corporation (NASDAQ:ADUS). The North Carolina-based National Bank & Trust Of America De has invested 0% in Addus Homecare Corporation (NASDAQ:ADUS). Qs Lc holds 0.01% or 44,046 shares in its portfolio. Blackrock Institutional Na reported 123,884 shares or 0% of all its holdings. Bridgeway Cap Inc holds 0.01% of its portfolio in Addus Homecare Corporation (NASDAQ:ADUS) for 29,600 shares. Gsa Cap Ptnrs Ltd Liability Partnership reported 42,100 shares or 0.04% of all its holdings. Vanguard Group Inc accumulated 0% or 258,085 shares. Creative Planning has 500 shares for 0% of their US portfolio. Prudential Financial holds 0% of its portfolio in Addus Homecare Corporation (NASDAQ:ADUS) for 23,616 shares. Sheets Smith Wealth Mngmt last reported 10,183 shares in the company. The California-based Globeflex Capital Lp has invested 0.1% in Addus Homecare Corporation (NASDAQ:ADUS). Moreover, State Street Corp has 0% invested in Addus Homecare Corporation (NASDAQ:ADUS) for 85,611 shares. Fmr Lc holds 657,240 shares or 0% of its portfolio. Fuller And Thaler Asset Management has 1,800 shares for 0% of their US portfolio.

More notable recent Addus Homecare Corporation (NASDAQ:ADUS) news were published by: Prnewswire.com which released: “Addus HomeCare Announces Third-Quarter 2016 Results” on November 07, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on December 21, 2009, Prnewswire.com published: “Addus HomeCare Hires Brian Poff As Executive Vice President – Chief Financial …” on May 09, 2016. More interesting news about Addus Homecare Corporation (NASDAQ:ADUS) were released by: Prnewswire.com and their article: “Addus HomeCare Completes Acquisition Of South Shore Home Health Services In …” published on February 08, 2016 as well as Prnewswire.com‘s news article titled: “Addus HomeCare Names Susan T. Weaver, M.D. And Darin J. Gordon To Board Of …” with publication date: October 19, 2016.

ADUS Company Profile

Addus HomeCare Corporation, incorporated on July 27, 2006, is a well-known provider of home and community personal care services, which are provided primarily in the home, and is focused on the dual eligible (Medicare/Medicaid) population. The Firm provides home- and community services to over 32,000 clients through approximately 120 locations across over 20 states of the United States, including five adult day centers in Illinois. The Company’s services include non-medical care, such as personal care, home support services and adult day care. The Firm provides these services on a long-term, continuous basis, with an average duration of over 20 months per consumer. The Company’s adult day centers provide a program of skilled and support services and designated medical services for adults in a community group setting.

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