AMED - Amedisys stock slumps 13% as Bofa trims rating on CMS proposed Medicare home health rate cut

Amedisys (NASDAQ:AMED) stock fell ~13% on June 21 after Bank of America downgraded the stock to Underperform from Neutral with a price target of $102, from $145, following Centers for Medicare and Medicaid Services' (CMS) proposed cut to Medicare home health rates. Bofa Analyst Joanna Gajuk noted that while not changing estimates yet, pending final rules, Gajuk thinks that home health proposition implies that there could be a multi-year time period of Medicare rate cuts and sees 'significant risk' to EBITDA estimates for the company if the draft is finalized as the way it is. The SA Quant Rating on Amedisys is Hold, which factors in measures such as the company's Profitability and Growth, among other things. The rating is in contrast to the average Wall Street Analysts' Rating of Buy, wherein six out of 16 analysts give it a Strong Buy rating while five each give a Buy and Hold rating. Amedisys (AMED) also

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Amedisys stock slumps 13% as Bofa trims rating on CMS proposed Medicare home health rate cut