Kindred Healthcare (KND) Bonds Drop 0.3% During Trading

An issue of Kindred Healthcare, Inc. (NYSE:KND) debt fell 0.3% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 6.375% coupon and will mature on April 15, 2022. The debt is now trading at $102.00 and was trading at $101.50 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.

KND has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Deutsche Bank restated 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. Mizuho set a $9.00 price target on shares of Kindred Healthcare and gave the company a “hold” rating in a research note on Monday, December 18th. Stifel Nicolaus raised shares of Kindred Healthcare from a “sell” rating to a “hold” rating and set a $7.00 price target for the company in a research note on Monday, November 20th. Finally, ValuEngine raised shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Kindred Healthcare has a consensus rating of “Hold” and a consensus price target of $9.07.

Kindred Healthcare, Inc. (NYSE KND) opened at $9.70 on Thursday. The stock has a market cap of $814.99, a price-to-earnings ratio of -4.92, a PEG ratio of 4.02 and a beta of 1.21. Kindred Healthcare, Inc. has a 52 week low of $5.50 and a 52 week high of $11.90. 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 released its quarterly earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.44 billion. Kindred Healthcare had a negative net margin of 8.06% and a positive return on equity of 2.29%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. sell-side analysts forecast that Kindred Healthcare, Inc. will post 0.32 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in KND. Janus Henderson Group PLC bought a new position in Kindred Healthcare during the second quarter worth $130,000. Highbridge Capital Management LLC bought a new stake in Kindred Healthcare in the third quarter valued at $133,000. Amalgamated Bank increased its stake in Kindred Healthcare by 0.9% in the second quarter. Amalgamated Bank now owns 11,518 shares of the health services provider’s stock valued at $134,000 after purchasing an additional 108 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Kindred Healthcare in the third quarter valued at $208,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Kindred Healthcare in the second quarter valued at $216,000. 89.59% of the stock is owned by institutional investors and hedge funds.

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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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