Corient Private Wealth LP Makes New $2.63 Million Investment in National HealthCare Corporation $NHC

Key Points

• Corient Private Wealth LP acquired 12,430 shares of National HealthCare Corporation, valued at approximately $2.63 million, giving it a 0.08% stake. Institutional investors collectively own 56.44% of the company.
• National HealthCare reported quarterly revenue of $408.03 million and earnings of $1.74 per share, while its stock opened at $218.97 and has gained substantially from its 52-week low of $111.24.
• The company declared a quarterly dividend of $0.67, equivalent to an annualized $2.68 payout and a 1.2% yield. Analysts’ average rating is Buy, although company insiders recently sold shares.

Corient Private Wealth LP 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 disclosure with the SEC. The firm acquired 12,430 shares of the company's stock, valued at approximately $2,627,000. Corient Private Wealth LP owned 0.08% of National HealthCare at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in National HealthCare during the third quarter worth $25,000. Allworth Financial LP acquired a new stake in National HealthCare during the second quarter valued at $27,000. Quarry LP increased its holdings in National HealthCare by 171.9% in the third quarter. Quarry LP now owns 261 shares of the company's stock valued at $32,000 after buying an additional 165 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in National HealthCare in the second quarter valued at $37,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of National HealthCare in the fourth quarter worth about $42,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

National HealthCare Stock Up 1.1%

NHC stock opened at $218.97 on Wednesday. National HealthCare Corporation has a 52 week low of $111.24 and a 52 week high of $239.29. The firm has a 50-day simple moving average of $220.05 and a 200-day simple moving average of $190.81. The stock has a market capitalization of $3.43 billion, a P/E ratio of 24.63 and a beta of 0.62.

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

National HealthCare Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. 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 National HealthCare to a "hold" rating in a report on Monday, May 18th. Robert W. Baird raised National HealthCare to a "strong-buy" rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada upgraded 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 given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy".

Insider Activity at National HealthCare

In other news, Director David R. Gifford sold 1,779 shares of National HealthCare stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $225.42, for a total value of $401,022.18. Following the sale, the director directly owned 1,030 shares of the company's stock, valued at $232,182.60. The trade was a 63.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen Fowler Flatt sold 1,500 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $15,525,657.96. The trade was a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.92% of the company's stock.

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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