TD Asset Management Inc Sells 4,300 Shares of National HealthCare Co. (NYSE:NHC)

Key Points

• TD Asset Management Inc has reduced its stake in National HealthCare Co. by 34.7%, selling 4,300 shares, and now holds approximately 0.05% of the company.
• National HealthCare recently increased its quarterly dividend to $0.64, representing an annualized yield of 2.7%.
• Wall Street analysts have upgraded National HealthCare from a "buy" to a "strong-buy" rating, indicating positive growth prospects for the company.

TD Asset Management Inc lowered its stake in National HealthCare Co. (NYSE:NHC - Free Report) by 34.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,100 shares of the company's stock after selling 4,300 shares during the quarter. TD Asset Management Inc owned approximately 0.05% of National HealthCare worth $752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NHC. Bessemer Group Inc. grew its position in shares of National HealthCare by 396.3% in the 4th quarter. Bessemer Group Inc. now owns 268 shares of the company's stock valued at $29,000 after acquiring an additional 214 shares during the period. Sterling Capital Management LLC lifted its stake in National HealthCare by 809.1% in the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the company's stock valued at $43,000 after purchasing an additional 356 shares during the last quarter. State of Wyoming acquired a new stake in National HealthCare in the 4th quarter valued at about $93,000. Hohimer Wealth Management LLC grew its holdings in National HealthCare by 6.9% during the first quarter. Hohimer Wealth Management LLC now owns 2,479 shares of the company's stock worth $230,000 after purchasing an additional 160 shares during the period. Finally, ClearAlpha Technologies LP bought a new position in National HealthCare during the fourth quarter worth about $236,000. Institutional investors and hedge funds own 56.44% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded National HealthCare from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 12th.

National HealthCare Stock Performance

NHC traded up $3.57 during trading hours on Friday, reaching $99.98. The company's stock had a trading volume of 20,102 shares, compared to its average volume of 59,474. The company's 50-day moving average is $102.14 and its 200-day moving average is $98.50. National HealthCare Co. has a 52 week low of $89.14 and a 52 week high of $137.53. The firm has a market cap of $1.55 billion, a PE ratio of 12.53 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.77 and a current ratio of 1.80.

About National HealthCare

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.