Kindred Healthcare, Inc. (KND) Cut to “Sell” at Zacks Investment Research

Kindred Healthcare, Inc. (NYSE:KND) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Kindred Healthcare, Inc. is one of the largest providers of long-term healthcare services in the United States. Their health services division provides long-term care services by operating nursing centers and a rehabilitation therapy business, and their hospital division provides long-term acute care services by operating hospitals and an institutional pharmacy business. “

Other equities research analysts have also issued research reports about the stock. Bank of America Corporation dropped their price objective on shares of Kindred Healthcare from $7.50 to $6.50 and set an “underperform” rating on the stock in a research note on Thursday, September 21st. Royal Bank Of Canada dropped their price objective on shares of Kindred Healthcare from $9.00 to $7.50 and set a “sector perform” rating on the stock in a research note on Thursday, September 21st. BidaskClub lowered shares of Kindred Healthcare from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank AG dropped their price objective on shares of Kindred Healthcare from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Finally, Mizuho reissued a “neutral” rating and set a $9.00 price objective on shares of Kindred Healthcare in a research note on Monday, July 3rd. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Kindred Healthcare has an average rating of “Hold” and an average price target of $8.94.

Kindred Healthcare (KND) opened at 6.30 on Tuesday. Kindred Healthcare has a 12-month low of $5.50 and a 12-month high of $11.90. The firm has a 50-day moving average price of $7.13 and a 200 day moving average price of $9.05. The firm’s market cap is $548.22 million.

Kindred Healthcare (NYSE:KND) last released its quarterly earnings data on Thursday, August 3rd. The health services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Kindred Healthcare had a negative net margin of 16.31% and a positive return on equity of 3.49%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts forecast that Kindred Healthcare will post $0.29 EPS for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd purchased a new stake in Kindred Healthcare during the first quarter valued at approximately $121,000. Janus Henderson Group PLC purchased a new stake in Kindred Healthcare during the second quarter valued at approximately $130,000. Two Sigma Securities LLC increased its holdings in Kindred Healthcare by 54.5% during the first quarter. Two Sigma Securities LLC now owns 15,632 shares of the health services provider’s stock valued at $131,000 after buying an additional 5,511 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Kindred Healthcare during the first quarter valued at approximately $133,000. Finally, Amalgamated Bank increased its holdings in Kindred Healthcare by 0.9% during the second quarter. Amalgamated Bank now owns 11,518 shares of the health services provider’s stock valued at $134,000 after buying an additional 108 shares during the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Kindred Healthcare (NYSE:KND)

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