Adtalem Global Education (NYSE: ATGE – Get a rating) updated its earnings guidance for fiscal year 2023 on Friday. share of $4.26. The company released a revenue forecast of $1.38 billion to $1.45 billion, compared to a consensus revenue estimate of $1.46 billion.
Analyst upgrades and downgrades
A number of research analysts have published reports on the company. Robert W. Baird raised his price target on Adtalem Global Education from $31.00 to $40.00 in a Friday, August 12 research note. Barrington Research raised its price target on Adtalem Global Education shares from $40.00 to $46.00 and gave the stock an outperform rating in a Friday, August 12 report.
Adtalem Global Education Stock up 0.6%
NYSE ATGE shares opened at $38.35 on Friday. The company’s fifty-day moving average price is $36.92 and its 200-day moving average price is $31.35. Adtalem Global Education has a one-year minimum of $19.14 and a one-year maximum of $40.60. The stock has a market capitalization of $1.73 billion, a PE ratio of 5.94, a P/E/G ratio of 0.62 and a beta of 1.02. The company has a debt ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33.
Adtalem Global Education (NYSE: ATGE – Get a rating) last reported results on Thursday, August 11. The company reported earnings per share of $1.31 for the quarter, beating analyst consensus estimates of $1.25 by $0.06. Adtalem Global Education achieved a net margin of 21.97% and a return on equity of 12.38%. The company posted revenue of $361.23 million in the quarter, versus analyst estimates of $348.90 million. In the same quarter last year, the company earned earnings per share of $0.70. The company’s quarterly revenue increased 61.6% year over year. On average, equity research analysts expect Adtalem Global Education to post an EPS of 4.08 for the current year.
Insider Trading at Adtalem Global Education
Separately, director William V. Krehbiel bought 10,000 shares in a trade on Tuesday, June 14. The shares were acquired at an average cost of $31.67 per share, for a total transaction of $316,700.00. Following the purchase, the director now directly owns 10,000 shares of the company, valued at approximately $316,700. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Insiders own 2.75% of the shares of the company.
Adtalem Global Education Institutional Trading
A number of hedge funds have recently changed their positions in ATGE. Allianz Asset Management GmbH increased its equity stake in Adtalem Global Education by 28.3% during the 1st quarter. Allianz Asset Management GmbH now owns 33,940 shares of the company valued at $1,008,000 after purchasing an additional 7,485 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Adtalem Global Education by 56.2% in Q1. MetLife Investment Management LLC now owns 25,935 shares of the company valued at $771,000 after acquiring 9,329 additional shares in the last quarter. PDT Partners LLC increased its stake in Adtalem Global Education by 132.6% in the 1st quarter. PDT Partners LLC now owns 21,826 shares of the company valued at $648,000 after acquiring an additional 12,442 shares during the period. Royal Bank of Canada increased its position in Adtalem Global Education by 12.9% during the 1st quarter. Royal Bank of Canada now owns 20,457 shares of the company worth $607,000 after acquiring 2,343 additional shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in Adtalem Global Education in Q2 worth approximately $258,000. 98.59% of the shares are held by institutional investors.
Adtalem Global Education Company Profile
Adtalem Global Education Inc provides workforce solutions worldwide. It operates through two segments, Medical and Healthcare; and Financial Services. The Medical and Healthcare segment offers degree and non-degree programs in the medical and healthcare post-secondary education sector. This segment operates Chamberlain University, American University of the Caribbean School of Medicine, Ross University School of Medicine and Ross University School of Veterinary Medicine.
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