Deutsche Bank Downgrades Amedisys (AMED) to Hold; SFC Report Worse Than Expected

Deutsche Bank downgraded Amedisys (NASDAQ: AMED) from Buy to Hold, price target cut from $28 to $15.

Deutsche analyst says, "Today (10/03), Senate Finance Cmte (SFC) released a Staff Report on Home Health and the Medicare Therapy Threshold. While maximization of the 10-visit tx threshold (pre-2008) and the 6/14/20 tx intervals (post-2008) has been widely known, SFC reveals aggressive internal policies by major chains designed to game Medicare pmt incentives. The findings, in our view, could lead to further investigations and make it incrementally more likely worst-case Medicare rate cuts materialize. We now find it imprudent to characterize AMED & Gentiva (Nasdaq: GTIV) as over-sold."

For more ratings news on Amedisys click here and for the rating history of Amedisys click here.

Shares of Amedisys closed at $13.40 yesterday.

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