Kindred Healthcare (KND) Bonds Trading 2.3% Higher

An issue of Kindred Healthcare, Inc. (NYSE:KND) debt rose 2.3% as a percentage of its face value during trading on Tuesday. The debt issue has a 8% coupon and is set to mature on January 15, 2020. The bonds in the issue are now trading at $108.00 and were trading at $100.70 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

KND has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $8.50 target price (up from $7.50) on shares of Kindred Healthcare in a research note on Thursday, November 9th. Bank of America lowered their target price 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. Zacks Investment Research raised shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. ValuEngine raised shares of Kindred Healthcare from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $7.50 target price (down from $8.00) on shares of Kindred Healthcare in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Kindred Healthcare has an average rating of “Hold” and an average price target of $9.07.

Kindred Healthcare, Inc. (NYSE:KND) traded down $0.40 during mid-day trading on Tuesday, hitting $9.10. 16,067,764 shares of the company’s stock traded hands, compared to its average volume of 1,290,312. The stock has a market capitalization of $747.62, a P/E ratio of 43.00, a PEG ratio of 3.58 and a beta of 1.21. Kindred Healthcare, Inc. has a 52-week low of $5.50 and a 52-week high of $11.90. 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) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.08. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.44 billion. Kindred Healthcare had a negative net margin of 8.06% and a positive return on equity of 2.29%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. equities analysts forecast that Kindred Healthcare, Inc. will post 0.32 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of KND. Aperio Group LLC raised its stake in shares of Kindred Healthcare by 2.6% during the second quarter. Aperio Group LLC now owns 48,872 shares of the health services provider’s stock worth $569,000 after acquiring an additional 1,250 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Kindred Healthcare by 3.9% during the second quarter. Great West Life Assurance Co. Can now owns 123,065 shares of the health services provider’s stock worth $1,434,000 after acquiring an additional 4,600 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of Kindred Healthcare by 1.5% during the second quarter. Texas Permanent School Fund now owns 62,557 shares of the health services provider’s stock worth $729,000 after acquiring an additional 924 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Kindred Healthcare by 23.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,129,938 shares of the health services provider’s stock worth $13,164,000 after purchasing an additional 217,196 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Kindred Healthcare by 0.7% in the second quarter. Arizona State Retirement System now owns 44,664 shares of the health services provider’s stock worth $520,000 after purchasing an additional 300 shares during the last quarter. 89.59% of the stock is currently owned by hedge funds and other institutional investors.

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Kindred Healthcare Company Profile

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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