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AFAM

Merged with LHCG

$59.20

0.6 (1.02%)

, LHCG

LHC Group

$64.97

0.7 (1.09%)

13:22
02/27/18
02/27
13:22
02/27/18
13:22

Almost Family rallies after posting in-line Q4 earnings

Shares of Almost Family (AFAM) are moving higher following last night's Q4 results. The company reported Q4 adjusted earnings per share of 58c, directly in-line with consensus expectations. Its net service revenue of $200.6M came in shy of the $203.5M expectation. Almost Family expects its merger with LHC Group (LHCG) to close near the end of Q1 following both companies' March 29 special stockholder meetings to approve the proposed transaction. CEO William Yarmuth commented: "We're very pleased to close out fiscal 2017 with strong operating results and numerous accomplishments culminating with our planned merger with LHC Group. Successfully integrating our CHS-JV acquisition and completing the transition of the balance of our home health operations, so that we're now fully on the Homecare Homebase software platform, bode very well for our future. As we leave 2017 and enter into 2018, combining the best of both our long track records of success and patient-focused cultures, as one family, we'll continue our mission of making lives better through home care." Almost Family added that it expects the Tax Act to reduce our U.S. corporate tax rate from 35% to 21% in 2018. The company's shares are up 3.5%, or $2.10, to $61.30 in afternoon trading. LHC Group is up 3% to $67.01.

AFAM

Merged with LHCG

$59.20

0.6 (1.02%)

LHCG

LHC Group

$64.97

0.7 (1.09%)

  • 01

    Mar

AFAM Merged with LHCG
$59.20

0.6 (1.02%)

11/16/17
JPMS
11/16/17
NO CHANGE
JPMS
Neutral
Almost Family acquired for 16% premium, says JPMorgan
JPMorgan analyst Gary Taylor says Almost Family's (AFAM) merger of equals with LHC Group (LHCG) amounts to a takeover at a 16% premium, based on LHC's closing price yesterday. Regarding antitrust, the analyst notes that while the deal would propel the third and fourth largest players in the home-health industry to a number two position behind Kindred Healthcare (KND), the industry is "tremendously fragmented." Further, Taylor believes the merger agreement contains "onerous divestiture language." The analyst has a Neutral rating on Almost Family with a $59 price target.
11/17/17
OPCO
11/17/17
NO CHANGE
Target $85
OPCO
Outperform
LHC Group price target raised to $85 from $80 at Oppenheimer
Oppenheimer analyst Michael Wiederhorn raised his price target for LHC Group (LHCG) to $85 saying the merger with Almost Family (AFAM) is "highly favorable" given its strategic and financial benefits. The analyst continues to be a buyer of the shares at current levels. He notes that the all-stock nature of the transaction preserves LHC's balance sheet for additional acquisition opportunities going forward. Wiederhorn keeps an Outperform rating on the shares.
11/20/17
RBCM
11/20/17
DOWNGRADE
RBCM
Sector Perform
Almost Family downgraded to Sector Perform from Outperform at RBC Capital
11/20/17
RBCM
11/20/17
DOWNGRADE
Target $62
RBCM
Sector Perform
Almost Family downgraded to Sector Perform at RBC Capital after LHC mergerLHC Group
As noted earlier, RBC Capital analyst Frank Morgan downgraded Almost Family (AFAM) to Sector Perform from Outperform but raised his price target to $62 from $54 to reflect the implied pricing of the merger announced last week. Morgan says the stock-for-stock transaction with LHC Group (LHCG) is positive, creating the largest in-home service provider in the industry. The analyst also notes that given the low overlap in the two companies' operations, he does not anticipate any antitrust issues related to the merger.
LHCG LHC Group
$64.97

0.7 (1.09%)

11/21/17
WBLR
11/21/17
INITIATION
WBLR
Outperform
LHC Group initiated with an Outperform at William Blair
William Blair started LHC Group with an Outperform rating.
11/22/17
11/22/17
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Nutanix (NTNX) initiated with a Buy at Needham. 2. Regenxbio (RGNX) and Sangamo (SGMO) were initiated with an Overweight at Barclays. 3. Amedisys (AMED), HealthSouth (HLS), LHC Group (LHCG), and LifePoint (LPNT) were initiated with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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ALV

Autoliv

$106.86

1.57 (1.49%)

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VC

Visteon

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ABT

Abbott

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ABT

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ADTN

Adtran

$16.05

0.1 (0.63%)

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  • 18

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FSBW

FS Bancorp

$61.64

-1.86 (-2.93%)

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Anchor Bancorp

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$61.64

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Anchor Bancorp

$28.50

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CGC

Canopy Growth

$26.41

-1.19 (-4.31%)

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BA

Boeing

$356.95

0.94 (0.26%)

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  • 25

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MRTN

Marten Transport

$22.10

(0.00%)

, UAL

United Continental

$72.66

0.38 (0.53%)

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United Continental

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CSX

$64.42

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MLNX

Mellanox

$84.85

0.9 (1.07%)

IBKR

Interactive Brokers

$64.65

1.93 (3.08%)

HCSG

Healthcare Services

$42.38

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TXN

Texas Instruments

$115.80

1.21 (1.06%)

SAH

Sonic Automotive

$20.45

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CARA

Cara Therapeutics

$21.60

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CASI

Casi Pharmaceuticals

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Tilly's

$15.35

0.21 (1.39%)

CLX

Clorox

$135.00

0.71 (0.53%)

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BHP

BHP Billiton

$48.73

0.24 (0.49%)

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BHP

BHP Billiton

$48.73

0.24 (0.49%)

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CLX

Clorox

$135.00

0.71 (0.53%)

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  • 02

    Aug

NCS

NCI Building

$20.70

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AMX

America Movil, also tag AMOV

$17.39

-0.35 (-1.97%)

, AMOV

America Movil, also tag AMX

$17.45

-0.19 (-1.08%)

18:16
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AMX

America Movil, also tag AMOV

$17.39

-0.35 (-1.97%)

AMOV

America Movil, also tag AMX

$17.45

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AMZN

Amazon.com

$1,844.00

21.98 (1.21%)

18:08
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  • 18

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BRK.A

Berkshire Hathaway

$288,482.00

-1118 (-0.39%)

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$288,482.00

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Berkshire Hathaway

$190.47

-1.52 (-0.79%)

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PNFP

Pinnacle Financial

$60.10

-0.5 (-0.83%)

18:02
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  • 18

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CHDN

Churchill Downs

$304.60

1.1 (0.36%)

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  • 02

    Aug

CE

Celanese

$110.22

1.6 (1.47%)

18:01
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  • 20

    Jul

BLK

BlackRock

$504.89

1.14 (0.23%)

17:51
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DRNA

Dicerna

$12.47

0.57 (4.79%)

17:45
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Conference/Events
Dicerna management to meet with SunTrust »

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  • 17

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