122,320 Shares in National HealthCare Corporation $NHC Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 122,320 shares of National HealthCare, valued at approximately $25.9 million, giving it a 0.78% stake. Institutional investors collectively own 56.44% of NHC.
• Analyst sentiment remains positive, with two firms rating NHC a “Strong Buy” and two assigning a “Hold”; MarketBeat’s consensus rating is “Buy.”
• NHC reported quarterly EPS of $1.74 on $408.03 million in revenue and announced a quarterly dividend of $0.67, equivalent to a 1.2% yield.

Bank of New York Mellon Corp purchased a new stake in shares of National HealthCare Corporation (NYSEAMERICAN:NHC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 122,320 shares of the company's stock, valued at approximately $25,854,000. Bank of New York Mellon Corp owned about 0.78% of National HealthCare at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NHC. Strs Ohio acquired a new stake in National HealthCare during the fourth quarter worth approximately $809,000. Militia Capital Management LLC acquired a new stake in shares of National HealthCare during the 1st quarter worth approximately $2,827,000. Morgan Stanley Institutional Investment Advisors LLC grew its position in shares of National HealthCare by 38.6% during the 4th quarter. Morgan Stanley Institutional Investment Advisors LLC now owns 1,038,787 shares of the company's stock worth $142,407,000 after buying an additional 289,566 shares during the period. First Trust Advisors LP increased its stake in shares of National HealthCare by 45.4% in the 1st quarter. First Trust Advisors LP now owns 530,302 shares of the company's stock valued at $84,689,000 after acquiring an additional 165,615 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of National HealthCare by 407.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,257 shares of the company's stock valued at $12,019,000 after acquiring an additional 60,420 shares in the last quarter. 56.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada raised shares of National HealthCare to a "hold" rating in a research note on Monday, May 18th. Robert W. Baird raised shares of National HealthCare to a "strong-buy" rating in a research note on Monday, May 18th. The Goldman Sachs Group upgraded shares of National HealthCare to a "strong-buy" rating in a report on Monday, May 18th. Finally, BMO Capital Markets raised shares of National HealthCare to a "hold" rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy".

National HealthCare Price Performance

Shares of NHC stock opened at $222.70 on Friday. The firm has a 50-day moving average of $219.36 and a 200-day moving average of $189.89. National HealthCare Corporation has a one year low of $111.24 and a one year high of $239.29. The company has a market cap of $3.49 billion, a P/E ratio of 25.05 and a beta of 0.61.

National HealthCare (NYSEAMERICAN:NHC - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.74 earnings per share (EPS) for the quarter. The business had revenue of $408.03 million during the quarter. National HealthCare had a net margin of 9.00% and a return on equity of 10.03%.

National HealthCare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. National HealthCare's dividend payout ratio is currently 61.89%.

Insider Activity at National HealthCare

In other National HealthCare news, Director Lisa Piercey acquired 949 shares of the business's stock in a transaction on Monday, June 1st. The shares were acquired at an average price of $184.26 per share, with a total value of $174,862.74. Following the completion of the transaction, the director owned 949 shares in the company, valued at approximately $174,862.74. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen Fowler Flatt sold 1,500 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $237.08, for a total value of $355,620.00. Following the completion of the transaction, the chief executive officer owned 65,487 shares of the company's stock, valued at $15,525,657.96. This trade represents a 2.24% decrease in their position. The SEC filing for this sale provides additional information. 13.92% of the stock is currently owned by company insiders.

National HealthCare Profile

National HealthCare Corporation (NYSE American: NHC) is a healthcare services company specializing in long-term care and post-acute rehabilitation. The company operates skilled nursing facilities, assisted living communities and outpatient therapy clinics. Through its subsidiary, National HealthCare Partners, NHC provides contract rehabilitation services, pharmacy management and clinical consulting to a broad network of senior living and healthcare providers.

Headquartered in Murfreesboro, Tennessee, National HealthCare Corporation has built a regional footprint across the southeastern and south-central United States.

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