The Pennant Group (NASDAQ:PNTG) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of The Pennant Group (NASDAQ:PNTG) in a research report released on Thursday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $33.00 target price on the stock.

A number of other research analysts have also recently weighed in on PNTG. Stephens reaffirmed an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Oppenheimer upped their price target on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their target price on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Truist Financial raised their price target on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.20.

The Pennant Group Price Performance

Shares of The Pennant Group stock opened at $27.38 on Thursday. The stock has a market cap of $940.45 million, a P/E ratio of 40.27, a P/E/G ratio of 2.99 and a beta of 1.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average is $31.80 and its 200 day moving average is $30.24. The Pennant Group has a one year low of $13.66 and a one year high of $37.13.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of The Pennant Group by 292.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock valued at $504,000 after purchasing an additional 16,200 shares in the last quarter. FMR LLC grew its holdings in The Pennant Group by 51.3% during the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after buying an additional 856,838 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in The Pennant Group in the 3rd quarter worth approximately $685,000. Bailard Inc. purchased a new stake in shares of The Pennant Group during the 2nd quarter worth approximately $253,000. Finally, Systematic Financial Management LP bought a new stake in The Pennant Group in the third quarter worth $1,069,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Company Profile

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.