BUZZ-Stephens lowers PT for Addus HomeCare amid Medicaid funding uncertainity
Brokerage Stephens cuts price target for home health services provider Addus HomeCare ADUS.O to $142 from $153; maintains "overweight" rating
The new PT represents 45.5% upside to stock's last close
Brokerage says uncertainty over funding for federal health insurance program Medicaid has been pushing the stock lower as the co's patient population can be impacted
Stock closed 10.4% lower on Tuesday, and has shed about 22% YTD
ADUS, however, views its position of low-cost settings serving older adults and disabled population within Medicaid as likely more insulated from the broader potential reductions
Company, after market close on Monday, posted quarterly adj. profit of $1.38/shr compared with analysts' estimate $1.35/shr, according to data compiled by LSEG
11 of 12 brokerages rate the stock "buy" or equivalent, and one "underweight"; their median PT is $138 - data compiled by LSEG
ADUS rose 33.3% in 2024
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