Bank of New York Mellon Corp lowered its stake in Kindred Healthcare, Inc. (NYSE:KND) by 25.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,116,570 shares of the health services provider’s stock after selling 372,299 shares during the quarter. Bank of New York Mellon Corp owned about 1.28% of Kindred Healthcare worth $7,593,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Kindred Healthcare by 149.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,104,618 shares of the health services provider’s stock valued at $24,518,000 after buying an additional 1,260,753 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Kindred Healthcare by 102.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,753,787 shares of the health services provider’s stock worth $20,431,000 after acquiring an additional 886,906 shares in the last quarter. Vanguard Group Inc. grew its stake in Kindred Healthcare by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,031,919 shares of the health services provider’s stock worth $93,572,000 after acquiring an additional 635,000 shares in the last quarter. Bank of Nova Scotia grew its stake in Kindred Healthcare by 232.3% in the 2nd quarter. Bank of Nova Scotia now owns 876,317 shares of the health services provider’s stock worth $10,209,000 after acquiring an additional 612,598 shares in the last quarter. Finally, Glenview Capital Management LLC grew its stake in Kindred Healthcare by 18.8% in the 2nd quarter. Glenview Capital Management LLC now owns 2,374,713 shares of the health services provider’s stock worth $27,665,000 after acquiring an additional 375,000 shares in the last quarter. Institutional investors and hedge funds own 85.16% of the company’s stock.
Shares of Kindred Healthcare, Inc. (NYSE KND) opened at $9.25 on Friday. Kindred Healthcare, Inc. has a 52-week low of $5.50 and a 52-week high of $11.90. The stock has a market cap of $804.13, a PE ratio of -4.70 and a beta of 1.20. The company has a debt-to-equity ratio of 6.22, a current ratio of 1.55 and a quick ratio of 1.53.
Kindred Healthcare (NYSE:KND) last posted its quarterly earnings results on Monday, November 6th. The health services provider reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.44 billion. During the same period in the previous year, the business posted $0.05 earnings per share. Kindred Healthcare’s quarterly revenue was down 5.5% on a year-over-year basis. sell-side analysts forecast that Kindred Healthcare, Inc. will post 0.31 EPS for the current year.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Kindred Healthcare from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday. Deutsche Bank reissued a “hold” rating and set 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 target price on shares of Kindred Healthcare and gave the company a “hold” rating in a research report 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 report on Monday, November 20th. Finally, ValuEngine raised shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $9.31.
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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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