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AMED Amedisys

Amedisys, Inc. is a leading healthcare at home Company delivering personalized home health, hospice and personal care. Amedisys is focused on delivering the care that is best for its patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of life. More than 2,900 hospitals and 78,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With ~21,000 employees, in 514 care centers in 39 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 418,000 patients in need every year.

Company profile

Ticker
AMED
Exchange
CEO
Paul Kusserow
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
113131700

AMED stock data

(
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Calendar

29 Apr 21
13 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Amedisys earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 78.34M 78.34M 78.34M 78.34M 78.34M 78.34M
Cash burn (monthly) 1.67M 8.29M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 4.1M 20.36M n/a n/a n/a n/a
Cash remaining 74.24M 57.98M n/a n/a n/a n/a
Runway (months of cash) 44.4 7.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jun 21 Lechleiter Richard A Common Stock Grant Aquire A No No 0 574 0 8,368
8 Jun 21 Capps Vickie L Common Stock Grant Aquire A No No 0 574 0 3,205
8 Jun 21 Ivanetta Davis Samuels Common Stock Grant Aquire A No No 0 574 0 987
8 Jun 21 Rideout Jeffrey A Common Stock Grant Aquire A No No 0 574 0 2,722
8 Jun 21 Klapstein Julie D Common Stock Grant Aquire A No No 0 574 0 9,418

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

86.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 376 394 -4.6%
Opened positions 41 52 -21.2%
Closed positions 59 54 +9.3%
Increased positions 135 147 -8.2%
Reduced positions 147 145 +1.4%
13F shares
Current Prev Q Change
Total value 7.47B 10.17B -26.6%
Total shares 28.19M 29.11M -3.2%
Total puts 149.7K 185.6K -19.3%
Total calls 116.1K 182.5K -36.4%
Total put/call ratio 1.3 1.0 +26.8%
Largest owners
Shares Value Change
BLK Blackrock 4.1M $1.09B +3.0%
Vanguard 3.12M $826.57M +3.1%
Wellington Management 1.62M $428M -33.9%
TROW T. Rowe Price 1.54M $408.81M -1.1%
JPM JPMorgan Chase & Co. 1.17M $309.21M +2.7%
IVZ Invesco 923.94K $244.65M -2.0%
Riverbridge Partners 917.9K $243.05M +24.2%
AMP Ameriprise Financial 798.31K $211.4M +49.2%
STT State Street 756.52K $200.32M +0.2%
William Blair Investment Management 748.65K $198.24M -0.2%
Largest transactions
Shares Bought/sold Change
Wellington Management 1.62M -829.12K -33.9%
Thrivent Financial For Lutherans 363.02K +354.43K +4126.1%
Carillon Tower Advisers 0 -329.8K EXIT
Norges Bank 0 -273.48K EXIT
AMP Ameriprise Financial 798.31K +263.33K +49.2%
Frontier Capital Management 232.36K +232.36K NEW
Riverbridge Partners 917.9K +178.66K +24.2%
Loomis Sayles & Co L P 97.43K -150.12K -60.6%
Eagle Asset Management 294.79K -148.67K -33.5%
Dimensional Fund Advisors 254.56K -146.37K -36.5%

Financial report summary

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Risks
  • Federal and state changes to reimbursement and other aspects of Medicare and Medicaid could have a material adverse effect on our business and consolidated financial condition, results of operations and cash flows.
  • Quality reporting requirements may negatively impact Medicare reimbursement.
  • Value-based purchasing may negatively impact Medicare reimbursement.
  • Any economic downturn, deepening of an economic downturn, continued deficit spending by the Federal Government or state budget pressures may result in a reduction in payments and covered services.
  • Future cost containment initiatives undertaken by private third party payors may limit our future revenue and profitability.
  • Our business may be materially adversely affected by the ongoing COVID-19 pandemic.
  • A shortage of qualified registered nursing staff and other clinicians, such as therapists and nurse practitioners, could materially impact our ability to attract, train and retain qualified personnel and could increase operating costs.
  • Because we are limited in our ability to control rates received for our services, our business and consolidated financial condition, results of operations and cash flows could be materially adversely affected if we are not able to maintain or reduce our costs to provide such services.
  • If we are unable to provide consistently high quality of care, our business will be adversely impacted.
  • If we are unable to maintain relationships with existing patient referral sources, our business and consolidated financial condition, results of operations and cash flows could be materially adversely affected.
  • Possible changes in the case mix of patients, as well as payor mix and payment methodologies, could have a material adverse effect on our business and consolidated financial condition, results of operations and cash flows.
  • Our failure to negotiate favorable managed care contracts, or our loss of existing favorable managed care contracts, could have a material adverse effect on our business and consolidated financial condition, results of operations and cash flows.
  • Our industry is highly competitive, with few barriers to entry in certain states.
  • Our business depends on our information systems. A cyber-attack, security breach or our inability to effectively integrate, manage and keep our information systems secure and operational could disrupt our operations.
  • Our insurance liability coverage may not be sufficient for our business needs.
  • We may be subject to substantial malpractice or other similar claims.
  • If we are unable to maintain our corporate reputation, our business may suffer.
  • A write off of a significant amount of intangible assets or long-lived assets could have a material adverse effect on our consolidated financial condition and results of operations.
  • Our operations could be impacted by natural disasters.
  • Our growth strategy depends on our ability to acquire additional care centers and integrate and operate these care centers effectively. If our growth strategy is unsuccessful or we are not able to successfully integrate newly acquired care centers into our existing operations, our business and consolidated financial condition, results of operations and cash flows could be materially adversely affected.
  • The indemnification provisions of acquisition agreements by which we have acquired companies may not fully protect us and as a result we may face unexpected liabilities.
  • State efforts to regulate the establishment or expansion of health care providers could impair our ability to expand our operations.
  • Federal regulation may impair our ability to consummate acquisitions or open new care centers.
  • We are subject to extensive government regulation. Any changes to the laws and regulations governing our business, or to the interpretation and enforcement of those laws or regulations, could have a material adverse effect on our business and consolidated financial condition, results of operations and cash flows.
  • We face periodic and routine reviews, audits and investigations under our contracts with federal and state government agencies and private payors, and these audits could have adverse findings that may negatively impact our business.
  • If a care center fails to comply with the conditions of participation in the Medicare program, that care center could be subjected to sanctions or terminated from the Medicare program.
  • We are subject to federal and state laws that govern our financial relationships with physicians and other health care providers, including potential or current referral sources.
  • We may face significant uncertainty in the industry due to government health care reform.
  • Delays in payment may cause liquidity problems.
  • Changes in units of payment for home health agencies could reduce our Medicare home health reimbursement levels.
  • The volatility and disruption of the capital and credit markets and adverse changes in the United States and global economies could impact our ability to access both available and affordable financing, and without such financing, we may be unable to achieve our objectives for strategic acquisitions and internal growth.
  • Our indebtedness could impact our financial condition and impair our ability to fulfill other obligations.
  • The agreements governing our indebtedness contain various covenants that limit our discretion in the operation of our business and our failure to satisfy requirements in these agreements could have a material adverse effect on our business and consolidated financial condition, results of operations and cash flows.
  • The price of our common stock may be volatile.
  • Our Board of Directors may use anti-takeover provisions or issue stock to discourage a change of control.
Management Discussion
  • On a consolidated basis, our operating income increased approximately $25 million on a revenue increase of $45 million. Our 2021 results include the acquisition of AseraCare, which contributed revenue of $25 million and an operating loss of $1 million, which is inclusive of acquisition and integration costs totaling $1 million and intangibles amortization totaling $2 million. Our 2021 operating results were positively impacted by the suspension of sequestration effective May 1, 2020, which resulted in an increase to net service revenue of approximately $8 million (excluding the AseraCare acquisition), and rate increases, which resulted in an increase to net service revenue of approximately $10 million (excluding the AseraCare acquisition). Additionally, we were able to expand margin in our home health segment by delivering improvements in clinician utilization and discipline mix and by reducing our revenue adjustments. We also experienced an expansion in our hospice gross margin resulting from lower costs associated with a decline in visit volumes due to access restrictions.
Content analysis
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