William Blair analyst Ryan Daniels has maintained their bullish stance on ADUS stock, giving a Buy rating on July 25.
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Ryan Daniels has given his Buy rating due to a combination of factors that highlight Addus Homecare’s strong financial performance and growth potential. The company reported impressive second-quarter results, with revenue and adjusted EBITDA surpassing market expectations. This was largely driven by robust growth in the personal care segment, which saw a significant increase in same-store revenue, well above management’s target range.
Additionally, the hospice segment experienced a notable year-over-year growth rate, contributing to the overall positive outlook. The company’s gross margin and adjusted EBITDA margin also showed improvement, indicating efficient operational management. Furthermore, Addus Homecare’s strategic acquisition of Helping Hands Home Health underscores its commitment to expanding its market presence and enhancing its service offerings. These factors collectively suggest a strong underlying momentum, justifying the Buy rating.
Daniels covers the Healthcare sector, focusing on stocks such as Addus Homecare, TransMedics Group, and Healthcare Services. According to TipRanks, Daniels has an average return of 4.1% and a 42.22% success rate on recommended stocks.
In another report released on July 25, Citizens JMP also reiterated a Buy rating on the stock with a $150.00 price target.