Kindred Healthcare Soars 7.6% On Strong Forecast (KND)

Shares of Kindred Healthcare, Inc. KND are trading up 7.6% at $18.90 per share during the Thursday afternoon trading session. The company announced on Wednesday after the market closed that it expects 4th quarter earnings to be at the upper end of its previously announced range of 38 cents to 43 cents per share. President and chief executive officer Paul J. Diaz said, “We expect growth in revenues, operating income and earnings per common share in 2011 through steady growth in our core businesses and the positive impact of our recently completed acquisitions. We also are pleased with our initial progress in transitioning through the significant regulatory changes in our nursing and rehabilitation centers as well as our rehabilitation therapy business that became effective on October 1, 2010.” The day's range for shares of Kindred Healthcare, Inc has been between $18.27 and $19.18 per share. The average price target of analysts who cover Kindred Healthcare, Inc. (KND) is $17.00 per share. Volume of 1.1 million shares is already approaching triple the daily average volume of 400,000 shares. Kindred Healthcare, Inc is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of over $4.2 billion and approximately 54,700 employees in 40 states. Read more from Benzinga's Company news.