BlackRock Inc. Takes $417.60 Million Position in National HealthCare Corporation $NHC

Key Points

• BlackRock acquired 1.98 million National HealthCare shares worth approximately $417.6 million, giving it a 12.65% stake. Institutional investors and hedge funds collectively own 56.44% of NHC.
• National HealthCare reported quarterly EPS of $1.74 on revenue of $408.03 million, with a 9.00% net margin and 10.03% return on equity.
• The company declared a quarterly dividend of $0.67, equivalent to $2.68 annually and a 1.2% yield. Analysts’ consensus rating is “Buy,” including two Strong Buy and two Hold ratings.

BlackRock Inc. acquired a new position in shares of National HealthCare Corporation (NYSEAMERICAN:NHC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,975,785 shares of the company's stock, valued at approximately $417,602,000. BlackRock Inc. owned approximately 12.65% of National HealthCare at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NHC. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of National HealthCare during the second quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in National HealthCare in the 3rd quarter valued at $25,000. Quarry LP grew its position in National HealthCare by 171.9% in the 3rd quarter. Quarry LP now owns 261 shares of the company's stock valued at $32,000 after purchasing an additional 165 shares during the period. Kestra Advisory Services LLC bought a new stake in National HealthCare during the 4th quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC increased its stake in National HealthCare by 28.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 311 shares of the company's stock valued at $50,000 after purchasing an additional 69 shares in the last quarter. 56.44% of the stock is currently owned by institutional investors and hedge funds.

National HealthCare Stock Performance

National HealthCare stock opened at $224.73 on Wednesday. National HealthCare Corporation has a fifty-two week low of $110.83 and a fifty-two week high of $239.29. The stock has a market cap of $3.52 billion, a PE ratio of 25.28 and a beta of 0.61. The firm's 50-day simple moving average is $217.84 and its 200 day simple moving average is $188.77.

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 disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, September 30th. National HealthCare's dividend payout ratio is 61.89%.

Analyst Ratings Changes

A number of research firms have weighed in on NHC. The Goldman Sachs Group raised shares of National HealthCare to a "strong-buy" rating in a research note on Monday, May 18th. BMO Capital Markets raised shares of National HealthCare to a "hold" rating in a research report on Monday, May 18th. Robert W. Baird upgraded shares of National HealthCare to a "strong-buy" rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada raised shares of National HealthCare to a "hold" rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, National HealthCare currently has an average rating of "Buy".

Insiders Place Their Bets

In other National HealthCare news, Director Lisa Piercey bought 949 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $184.26 per share, with a total value of $174,862.74. Following the transaction, the director directly owned 949 shares in the company, valued at $174,862.74. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Fowler Flatt sold 1,500 shares of National HealthCare stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $237.08, for a total value of $355,620.00. Following the sale, the chief executive officer owned 65,487 shares in the company, valued at $15,525,657.96. The trade was a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.92% of the stock is owned by corporate 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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