Summit Global Investments Lowers Position in National HealthCare Co. (NYSE:NHC)

Summit Global Investments decreased its stake in shares of National HealthCare Co. (NYSE:NHC) by 40.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,423 shares of the company’s stock after selling 4,328 shares during the period. Summit Global Investments’ holdings in National HealthCare were worth $808,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund purchased a new position in National HealthCare during the 1st quarter worth $745,000. Susquehanna Fundamental Investments LLC bought a new position in shares of National HealthCare during the 1st quarter worth approximately $206,000. ProShare Advisors LLC boosted its stake in shares of National HealthCare by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 2,539 shares of the company’s stock worth $240,000 after buying an additional 172 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of National HealthCare by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 29,746 shares of the company’s stock valued at $2,811,000 after acquiring an additional 2,186 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of National HealthCare by 4.9% during the first quarter. Vanguard Group Inc. now owns 1,593,829 shares of the company’s stock valued at $150,633,000 after acquiring an additional 74,911 shares during the last quarter. Institutional investors own 56.44% of the company’s stock.

Insider Buying and Selling at National HealthCare

In other National HealthCare news, SVP Brian F. Kidd sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $130.01, for a total value of $260,020.00. Following the sale, the senior vice president now directly owns 21,747 shares in the company, valued at $2,827,327.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut National HealthCare from a “strong-buy” rating to a “buy” rating in a research report on Friday.

National HealthCare Price Performance

NYSE NHC opened at $134.43 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 22.67 and a beta of 0.41. National HealthCare Co. has a 52-week low of $70.03 and a 52-week high of $138.49. The stock’s 50-day moving average is $123.72.

National HealthCare (NYSE:NHC) last issued its quarterly earnings results on Friday, August 9th. The company reported $1.00 earnings per share (EPS) for the quarter. National HealthCare had a net margin of 7.74% and a return on equity of 6.39%. The company had revenue of $300.66 million during the quarter.

National HealthCare Profile

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.