“We rate GEN $7 price target. We believe that the company is well- positioned to capitalize on the growing post-acute-care market and that its stronger and still-improving capital structure and the further development of value-based reimbursement initiatives will drive faster earnings growth. We expect profitability to improve as the company becomes a more-important player in the post-acute-care market by lowering unanticipated hospital readmissions. $7 price target is based on a blend of DCF and comparable-company analysis.”,” Cantor Fitzgerald’s analyst commented.
A number of other research firms have also issued reports on GEN. Credit Suisse Group started coverage on Genesis Healthcare in a report on Tuesday, October 16th. They issued a neutral rating and a $1.75 target price for the company. ValuEngine upgraded Genesis Healthcare from a hold rating to a buy rating in a report on Tuesday, September 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $3.19.
Genesis Healthcare (NYSE:GEN) last issued its quarterly earnings data on Wednesday, November 7th. The company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.25). The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the firm earned ($0.34) earnings per share. As a group, analysts expect that Genesis Healthcare will post -1.42 EPS for the current year.
In related news, Director David A. Reis sold 44,975 shares of Genesis Healthcare stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $1.74, for a total value of $78,256.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 371,769 shares of company stock valued at $630,453. 58.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new stake in Genesis Healthcare during the 2nd quarter worth about $120,000. Schwab Charles Investment Management Inc. purchased a new stake in Genesis Healthcare during the 1st quarter worth about $153,000. California Public Employees Retirement System lifted its holdings in Genesis Healthcare by 23.3% during the 1st quarter. California Public Employees Retirement System now owns 309,910 shares of the company’s stock worth $468,000 after buying an additional 58,610 shares during the last quarter. Millennium Management LLC lifted its holdings in Genesis Healthcare by 40.6% during the 1st quarter. Millennium Management LLC now owns 338,678 shares of the company’s stock worth $511,000 after buying an additional 97,834 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Genesis Healthcare by 27.2% during the 2nd quarter. Macquarie Group Ltd. now owns 314,967 shares of the company’s stock worth $721,000 after buying an additional 67,300 shares during the last quarter. 19.72% of the stock is owned by institutional investors.
About Genesis Healthcare
Genesis Healthcare, Inc, together with its subsidiaries, owns and operates skilled nursing facilities and assisted/senior living facilities in the United States. The company operates through three segments: Inpatient Services, Rehabilitation Therapy Services, and All Other Services. It also provides a range of rehabilitation therapy services, including speech-language pathology, physical therapy, occupational therapy, and respiratory therapy.
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