Zacks Investment Research Upgrades Kindred Healthcare (KND) to “Buy”

Zacks Investment Research upgraded shares of Kindred Healthcare (NYSE:KND) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $11.00 target price on the health services provider’s stock.

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. “

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus upgraded shares of Kindred Healthcare from a sell rating to a hold rating and set a $7.00 price target on the stock in a research report on Monday, November 20th. Deutsche Bank reiterated a hold rating and issued a $9.00 price target (down from $10.00) on shares of Kindred Healthcare in a research report on Monday, September 18th. Mizuho reiterated a neutral rating and issued a $7.50 price target (down from $8.00) on shares of Kindred Healthcare in a research report on Tuesday, October 10th. ValuEngine upgraded shares of Kindred Healthcare from a sell rating to a hold rating in a research report on Thursday, November 9th. Finally, Royal Bank of Canada dropped their price target on shares of 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company 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 Wednesday. The stock had a trading volume of 532,985 shares, compared to its average volume of 2,701,676. The company has a quick ratio of 1.53, a current ratio of 1.55 and a debt-to-equity ratio of 6.22. Kindred Healthcare has a twelve month low of $5.50 and a twelve month high of $11.90. The stock has a market capitalization of $846.07, a P/E ratio of 46.25 and a beta of 1.20.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC acquired a new stake in Kindred Healthcare during the 2nd quarter worth about $130,000. Amalgamated Bank raised its holdings in Kindred Healthcare by 0.9% during the 2nd quarter. Amalgamated Bank now owns 11,518 shares of the health services provider’s stock worth $134,000 after buying an additional 108 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Kindred Healthcare during the 2nd quarter worth about $216,000. Highbridge Capital Management LLC acquired a new stake in Kindred Healthcare during the 3rd quarter worth about $133,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Kindred Healthcare by 10.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,773 shares of the health services provider’s stock worth $312,000 after buying an additional 2,468 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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