The Pennant Group (NASDAQ:PNTG) Sets New 12-Month High at $24.25

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $24.25 and last traded at $24.08, with a volume of 36141 shares changing hands. The stock had previously closed at $23.40.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stephens reissued an “overweight” rating and issued a $25.00 price target on shares of The Pennant Group in a research report on Thursday, June 20th. Royal Bank of Canada boosted their price target on The Pennant Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Truist Financial boosted their price objective on shares of The Pennant Group from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, May 15th.

The Pennant Group Stock Performance

The firm has a market capitalization of $727.21 million, a PE ratio of 44.87, a price-to-earnings-growth ratio of 2.45 and a beta of 2.01. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $22.52 and its two-hundred day simple moving average is $18.98.

The Pennant Group (NASDAQ:PNTG) last announced its earnings results on Monday, May 6th. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. The Pennant Group had a return on equity of 13.42% and a net margin of 2.86%. The company had revenue of $156.92 million for the quarter, compared to analysts’ expectations of $146.01 million. Research analysts expect that The Pennant Group, Inc. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

A number of institutional investors have recently bought and sold shares of the stock. Boston Partners raised its holdings in The Pennant Group by 15.2% in the 1st quarter. Boston Partners now owns 115,682 shares of the company’s stock worth $2,273,000 after purchasing an additional 15,291 shares during the period. 8 Knots Management LLC raised its holdings in The Pennant Group by 34.0% in the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock worth $48,340,000 after purchasing an additional 625,061 shares during the period. Grandeur Peak Global Advisors LLC purchased a new stake in The Pennant Group in the 1st quarter worth $2,225,000. Covestor Ltd increased its stake in The Pennant Group by 3,805.6% in the 1st quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after buying an additional 1,370 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in The Pennant Group by 8.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock worth $6,915,000 after buying an additional 26,670 shares in the last quarter. 85.88% of the stock is owned by institutional investors.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.