The Pennant Group (NASDAQ:PNTG) Hits New 52-Week High at $22.00

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price reached a new 52-week high on Tuesday . The company traded as high as $22.00 and last traded at $21.81, with a volume of 12281 shares traded. The stock had previously closed at $21.57.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Oppenheimer upped their target price on The Pennant Group from $18.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Royal Bank of Canada lifted their target price on shares of The Pennant Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday. Stephens reiterated an “overweight” rating and issued a $23.00 target price on shares of The Pennant Group in a research report on Tuesday. Finally, Truist Financial upped their price objective on The Pennant Group from $16.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

The Pennant Group Price Performance

The company has a fifty day moving average of $19.97 and a 200-day moving average of $16.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.44. The stock has a market cap of $668.22 million, a PE ratio of 41.19, a P/E/G ratio of 2.26 and a beta of 2.01.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $145.95 million during the quarter, compared to analyst estimates of $136.79 million. The Pennant Group had a net margin of 2.46% and a return on equity of 12.78%. During the same quarter last year, the firm posted $0.15 EPS. Sell-side analysts expect that The Pennant Group, Inc. will post 0.73 EPS for the current fiscal year.

Institutional Trading of The Pennant Group

Several hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of The Pennant Group in the 1st quarter valued at approximately $279,000. Sei Investments Co. raised its stake in The Pennant Group by 679.7% during the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after acquiring an additional 118,581 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in shares of The Pennant Group by 14.9% during the first quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock worth $1,724,000 after purchasing an additional 11,359 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in The Pennant Group by 101.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,908 shares of the company’s stock worth $450,000 after buying an additional 11,536 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of The Pennant Group in the first quarter valued at approximately $197,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Company Profile

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.