The Pennant Group (NASDAQ:PNTG – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.55-$0.60 for the period, compared to the consensus earnings per share estimate of $0.64. The company issued revenue guidance of $458.00 million-$462.00 million, compared to the consensus revenue estimate of $460.40 million.
Analyst Ratings Changes
A number of brokerages have recently weighed in on PNTG. Stephens cut their price target on shares of The Pennant Group from $16.00 to $14.00 and set an equal weight rating for the company in a report on Wednesday, November 9th. Truist Financial upped their price target on shares of The Pennant Group from $12.00 to $18.00 and gave the stock a hold rating in a report on Wednesday, August 10th. Oppenheimer initiated coverage on shares of The Pennant Group in a report on Thursday, August 25th. They set an outperform rating and a $22.00 price target for the company. Finally, Royal Bank of Canada dropped their price objective on shares of The Pennant Group from $23.00 to $18.00 and set an outperform rating for the company in a research note on Wednesday, November 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, The Pennant Group presently has a consensus rating of Hold and a consensus price target of $17.60.
The Pennant Group Trading Down 5.6 %
NASDAQ:PNTG opened at $9.73 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $288.76 million, a price-to-earnings ratio of 486.74, a PEG ratio of 1.89 and a beta of 2.35. The firm has a fifty day simple moving average of $11.91 and a two-hundred day simple moving average of $14.04. The Pennant Group has a 12 month low of $8.68 and a 12 month high of $24.23.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in PNTG. Price T Rowe Associates Inc. MD lifted its stake in shares of The Pennant Group by 3.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,370,782 shares of the company’s stock valued at $55,990,000 after buying an additional 143,803 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of The Pennant Group by 30.0% during the first quarter. Wellington Management Group LLP now owns 556,550 shares of the company’s stock valued at $10,369,000 after purchasing an additional 128,548 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of The Pennant Group by 176.0% during the third quarter. Citadel Advisors LLC now owns 133,825 shares of the company’s stock valued at $1,393,000 after purchasing an additional 85,343 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of The Pennant Group during the first quarter valued at about $1,074,000. Finally, Ancora Advisors LLC lifted its position in shares of The Pennant Group by 146.3% during the first quarter. Ancora Advisors LLC now owns 94,700 shares of the company’s stock valued at $4,337,000 after purchasing an additional 56,257 shares in the last quarter. 88.56% of the stock is owned by institutional investors.
About The Pennant Group
The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.
Further Reading
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