Addus HomeCare Corporation – Medical Company Stocks In 2021
Healthcare is coming back into focus with rising cases in multiple parts of the world. While the traditional healthcare and pharma companies come to mind when one talks about healthcare, there are some niche names to watch out for. Addus HomeCare Corporation provides a range of medical and social services at home. Its offerings cover medical services needed during an illness or after surgery, spiritual, emotional, and physical care to terminally ill patients, and non-medical assistance to those who are at risk of hospitalization. The desire to stay at home and out of hospitals, an aging population, and higher rates of chronically ill patients are all key drivers of long-term growth for Addus HomeCare Corporation. If you are looking at medical care facilities sector stocks, then Addus presents a decent alternative.
What Is The Business Of Addus HomeCare?
Addus HomeCare primarily focuses on home care and hospice services. Hospice services involve catering to the emotional and spiritual needs of terminally ill patients. The hospice services mainly involve reducing the pain and suffering, especially towards the end of life of a terminally ill patient. As of November 2021, Addus HomeCare was believed to serve some 44,000 customers, most of whom are elderly, disabled, or chronically ill. Addus HomeCare operates in 22 states and has more than 30,000 employees. The homecare that Addus provides averages 26 months for a patient. The value proposition for patients is that if they choose not to opt for home care, then they are more likely to end up at a nursing home where the cost is three times the cost that they would pay to Addus HomeCare. Clearly, Addus can be an interesting option to look at if you are interested in medical company stocks in 2021.
ADUS is the ticker symbol of Addus HomeCare’s stock. It is listed on the NASDAQ exchange. The stock last traded at $102.86 on 22nd November 2021. Addus HomeCare does not pay a dividend. Its PE ratio on 22nd November 2021 was around 40.