Kindred Healthcare (KND) Cut to Hold at Zacks Investment Research

Kindred Healthcare (NYSE:KND) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “

KND has been the subject of several other reports. Royal Bank of Canada reduced their price objective on Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating for the company in a research report on Thursday, September 21st. 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. Deutsche Bank reiterated a “hold” rating and set a $9.00 price objective (down from $10.00) on shares of Kindred Healthcare in a research report on Monday, September 18th. Bank of America reduced their price objective on Kindred Healthcare from $7.50 to $6.50 and set an “underperform” rating for the company in a research report on Thursday, September 21st. Finally, Stifel Nicolaus upgraded Kindred Healthcare from a “sell” rating to a “hold” rating and set a $7.00 price objective for the company in a research report on Monday, November 20th. Two investment 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’s stock. The company has a consensus rating of “Hold” and a consensus target price of $9.31.

Kindred Healthcare (NYSE KND) opened at $9.25 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.53 and a debt-to-equity ratio of 6.22. The stock has a market capitalization of $804.13, a P/E ratio of -4.70 and a beta of 1.20. Kindred Healthcare has a 52-week low of $5.50 and a 52-week high of $11.90.

Kindred Healthcare (NYSE:KND) last issued its quarterly earnings data on Monday, November 6th. The health services provider reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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 firm posted $0.05 earnings per share. research analysts anticipate that Kindred Healthcare will post 0.31 EPS for the current year.

A number of large investors have recently made changes to their positions in KND. JPMorgan Chase & Co. raised its holdings in Kindred Healthcare by 69.8% during the third quarter. JPMorgan Chase & Co. now owns 3,572,684 shares of the health services provider’s stock worth $24,830,000 after purchasing an additional 1,468,066 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Kindred Healthcare by 102.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,753,787 shares of the health services provider’s stock worth $20,431,000 after purchasing an additional 886,906 shares in the last quarter. Vanguard Group Inc. raised its holdings in Kindred Healthcare by 8.6% during the second quarter. Vanguard Group Inc. now owns 8,031,919 shares of the health services provider’s stock worth $93,572,000 after purchasing an additional 635,000 shares in the last quarter. Bank of Nova Scotia raised its holdings in Kindred Healthcare by 232.3% during the second quarter. Bank of Nova Scotia now owns 876,317 shares of the health services provider’s stock worth $10,209,000 after purchasing an additional 612,598 shares in the last quarter. Finally, Glenview Capital Management LLC raised its holdings in Kindred Healthcare by 18.8% during the second quarter. Glenview Capital Management LLC now owns 2,374,713 shares of the health services provider’s stock worth $27,665,000 after purchasing an additional 375,000 shares in the last quarter. 85.16% of the stock is currently owned by hedge funds and other institutional investors.

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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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