The Pennant Group (NASDAQ:PNTG) Hits New 12-Month High at $36.25

The Pennant Group, Inc. (NASDAQ:PNTG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.25 and last traded at $35.71, with a volume of 136014 shares changing hands. The stock had previously closed at $34.67.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Oppenheimer increased their target price on shares of The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Truist Financial boosted their price target on shares of The Pennant Group from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Stephens raised their price objective on The Pennant Group from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th.

The Pennant Group Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a fifty day moving average price of $30.77 and a 200 day moving average price of $24.77. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 64.20, a P/E/G ratio of 3.42 and a beta of 2.01.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The firm had revenue of $168.75 million during the quarter, compared to analysts’ expectations of $156.71 million. As a group, equities analysts predict that The Pennant Group, Inc. will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning raised its stake in The Pennant Group by 2.0% in the second quarter. Creative Planning now owns 19,152 shares of the company’s stock valued at $444,000 after buying an additional 373 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of The Pennant Group by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock worth $260,000 after acquiring an additional 471 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in The Pennant Group in the 2nd quarter valued at $481,000. First Eagle Investment Management LLC lifted its holdings in The Pennant Group by 2.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 391,748 shares of the company’s stock valued at $9,085,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in The Pennant Group by 17.1% during the second quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock worth $6,199,000 after purchasing an additional 39,000 shares during the period. Institutional investors own 85.88% of the company’s stock.

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.