Notable Moving Stock: Addus HomeCare Corporation (NASDAQ: ADUS)

On 27 Nov 2019, Addus HomeCare Corporation (NASDAQ: ADUS) spotted trading -0.18% off 52-week high price. On the other end, the stock has been noted 63.49% away from the low price over the last 52-weeks. The stock changed 0.90% to recent value of $94.72. The stock transacted 144829 shares during most recent day however it has an average volume of 199.91K shares. The company has 15.51M of outstanding shares and 15.33M shares were floated in the market.

Addus HomeCare Corporation (ADUS) recently reported its financial results for the third quarter and nine months ended September 30, 2019.

Net service revenues increased 23.3% for the third quarter to $169.8M from $137.7M for the third quarter of 2018. Net income increased 34.0% to $4.9M for the third quarter of 2019 from $3.6M for the third quarter last year, while net income per diluted share was $0.34 contrast with $0.28 for the same period a year ago. Adjusted net income per diluted share grew 29.2% to $0.62 for the third quarter of 2019 from $0.48 for the third quarter of 2018. Adjusted net income per diluted share for the third quarter of 2019 excludes interest income from the State of Illinois of $0.02, M&A expenses of $0.10, severance and other non-recurring charges of $0.08, and stock-based compensation expense of $0.08. For the third quarter of 2018, adjusted net income per diluted share excludes M&A expenses of $0.11, other non-recurring charges of $0.02, and stock-based compensation expense of $0.07. Adjusted EBITDA increased 27.8% to $14.9M for the third quarter of 2019 from $11.6M for the third quarter of 2018. (See page 8 for a reconciliation of all non-GAAP and GAAP financial measures in this news release.)

During the third quarter of 2019, the Company reached a final settlement related to a 2016 qui tam claim filed in the Northern District of Illinois related to the Company’s former Illinois home health business, substantially all of which was sold in 2013. As a result of the settlement of this outstanding litigation, the results for the third quarter of 2019 include a charge of $574,000, or $0.04 per diluted share, net of tax, for discontinued operations related to the loss from home health business.

For the first nine months of 2019, net service revenues increased 21.2% to $458.7M from $378.4M for the first nine months of 2018. Net income increased 18.8% to $15.2M for the first nine months of 2019 from $12.8M for the first nine months of last year, while net income per diluted share increased to $1.12 from $1.06. Adjusted net income per diluted share grew 20.6% to $1.70 for the first nine months of 2019 from $1.41 for the same period in 2018.

Commenting on the results, Dirk Allison, President and Chief Executive Officer, stated, “We are happy with our continued profitable growth as reflected in our solid third quarter financial and operating performance. Our third quarter revenue includes strong organic growth, with same-store sales for our personal care services increasing 7.7%, ahead of our target range of 3% to 5%. In addition to overall favorable demand trends during the quarter, additional key drivers for this increase were the predictable higher contributions from our New York market Because of the state-led narrowing of the provider network and increased reimbursement rates from managed care plans in our Illinois market that commenced July 1, 2019.

Its earnings per share (EPS) expected to touch remained 20.50% for this year while earning per share for the next 5-years is expected to reach at 15.00%. ADUS has a gross margin of 27.10% and an operating margin of 4.70% while its profit margin remained 3.30% for the last 12 months. According to the most recent quarter its current ratio was 5.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 8.59% from the mean of 20 days, 12.63% from mean of 50 days SMA and performed 25.45% from mean of 200 days price. Company’s performance for the week was 7.23%, 11.31% for month and YTD performance remained 39.55%.

 

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