National HealthCare (NYSEAMERICAN:NHC) Shares Gap Up - Here's What Happened

Key Points

• National HealthCare shares rose 0.8%, opening at $229.43 after previously closing at $223.59, and last trading near $230.
• Recent analyst actions resulted in a consensus “Buy” rating, with two firms assigning Strong Buy ratings and two assigning Hold ratings.
• The company reported quarterly revenue of $408.03 million and EPS of $1.74, while declaring a quarterly dividend of $0.67, equivalent to a 1.2% annual yield.

National HealthCare Corporation (NYSEAMERICAN:NHC - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $223.59, but opened at $229.43. National HealthCare shares last traded at $230.0070, with a volume of 3,095 shares.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NHC. BMO Capital Markets raised National HealthCare to a "hold" rating in a report on Monday, May 18th. Robert W. Baird raised shares of National HealthCare to a "strong-buy" rating in a research report on Monday, May 18th. The Goldman Sachs Group upgraded shares of National HealthCare to a "strong-buy" rating in a research note 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 investment 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 presently has a consensus rating of "Buy".

National HealthCare Stock Up 0.8%

The firm has a market capitalization of $3.60 billion, a P/E ratio of 25.88 and a beta of 0.61. The firm has a 50 day moving average of $213.31 and a 200-day moving average of $185.11.

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 (EPS) for the quarter. The business had revenue of $408.03 million for the quarter. National HealthCare had a return on equity of 10.03% and a net margin of 9.00%.

National HealthCare Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors 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 of this dividend is Wednesday, September 30th. National HealthCare's payout ratio is 61.89%.

Insiders Place Their Bets

In other news, Director Lisa Piercey acquired 949 shares of National HealthCare stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $184.26 per share, for a total transaction of $174,862.74. Following the completion of the purchase, the director directly owned 949 shares of the company's stock, valued at approximately $174,862.74. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On National HealthCare

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of National HealthCare during the 3rd quarter worth approximately $25,000. Allworth Financial LP bought a new position in National HealthCare in the second quarter valued at approximately $27,000. Quarry LP raised its position in National HealthCare by 171.9% during the third quarter. Quarry LP now owns 261 shares of the company's stock valued at $32,000 after purchasing an additional 165 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in National HealthCare during the second quarter valued at approximately $37,000. Finally, Kestra Advisory Services LLC bought a new stake in National HealthCare during the fourth quarter worth $42,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

About National HealthCare

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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