Amedisys (AMED) Shares Hit 52 week High Before Plunging
February 23, 2010 1:23 PM
Shares of Amedisys Inc. (Nasdaq: AMED) hit a 52 week high, before falling and trading below yesterday's closing price of $60.04.
The home nursing provider reported a 43% jump in quarterly profits, beating Wall Street expectations.
Amedisys earned $37.8 million, or $1.35 per share, up from $26.3 million, or 97 cents per share, a year earlier. Revenue rose 19 percent to $405.5 million from $340.1 million.
A poll of analysts by Thomson Reuters showed an expected profit of $1.31 per share on revenue of $396.2 million.
For the whole of fiscal 2009, Amedisys' earnings rose to $135.8 million, or $4.89 per share, up from $86.7 million, or $3.22 per share, in 2008. Revenue rose to $1.51 billion from $1.19 billion.
Amedisys reported that in 2010 it expects to earn between $5.40 and $5.60 per share on revenue of $1.7 billion to $1.75 billion.
The average estimate of analysts puts 2010 profit at $5.18 per share on $1.69 billion in revenue.
