Cantor Fitzgerald Reaffirms Buy Rating for Genesis Healthcare (GEN)

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Cantor Fitzgerald reissued their buy rating on shares of Genesis Healthcare (NYSE:GEN) in a research note issued to investors on Wednesday morning. Cantor Fitzgerald currently has a $7.00 price objective on the stock.

“We rate GEN $7 price target. We believe that the company is well- positioned to capitalize on the growing post-acute-care market and that its stronger and still-improving capital structure and the further development of value-based reimbursement initiatives will drive faster earnings growth. We expect profitability to improve as the company becomes a more-important player in the post-acute-care market by lowering unanticipated hospital readmissions. $7 price target is based on a blend of DCF and comparable-company analysis.”,” the firm’s analyst wrote.

A number of other equities analysts also recently commented on the company. Credit Suisse Group assumed coverage on Genesis Healthcare in a research report on Tuesday, October 16th. They set a neutral rating and a $1.75 price objective on the stock. ValuEngine upgraded Genesis Healthcare from a hold rating to a buy rating in a research report on Tuesday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $3.19.

Shares of NYSE GEN traded down $0.05 during midday trading on Wednesday, hitting $1.64. The stock had a trading volume of 310,478 shares, compared to its average volume of 202,477. The company has a market cap of $271.38 million, a PE ratio of -0.78 and a beta of 0.50. Genesis Healthcare has a 1 year low of $0.60 and a 1 year high of $2.86.

Genesis Healthcare (NYSE:GEN) last announced its quarterly earnings data on Wednesday, November 7th. The company reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.25). The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the firm posted ($0.34) EPS. Research analysts forecast that Genesis Healthcare will post -1.42 EPS for the current fiscal year.

In related news, Director David A. Reis sold 71,070 shares of Genesis Healthcare stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $1.70, for a total transaction of $120,819.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 371,769 shares of company stock worth $630,453. 58.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in GEN. BlackRock Inc. increased its stake in Genesis Healthcare by 2.2% during the third quarter. BlackRock Inc. now owns 3,226,485 shares of the company’s stock worth $4,355,000 after acquiring an additional 68,168 shares during the last quarter. Renaissance Technologies LLC increased its stake in Genesis Healthcare by 55.3% during the second quarter. Renaissance Technologies LLC now owns 2,424,200 shares of the company’s stock worth $5,551,000 after acquiring an additional 863,600 shares during the last quarter. Acadian Asset Management LLC increased its stake in Genesis Healthcare by 81.3% during the third quarter. Acadian Asset Management LLC now owns 1,474,428 shares of the company’s stock worth $1,991,000 after acquiring an additional 661,206 shares during the last quarter. Northern Trust Corp increased its stake in Genesis Healthcare by 46.4% during the second quarter. Northern Trust Corp now owns 658,211 shares of the company’s stock worth $1,508,000 after acquiring an additional 208,621 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. increased its stake in Genesis Healthcare by 6.2% during the second quarter. Prescott Group Capital Management L.L.C. now owns 624,048 shares of the company’s stock worth $1,429,000 after acquiring an additional 36,213 shares during the last quarter. Hedge funds and other institutional investors own 19.72% of the company’s stock.

Genesis Healthcare Company Profile

Genesis Healthcare, Inc, together with its subsidiaries, owns and operates skilled nursing facilities and assisted/senior living facilities in the United States. The company operates through three segments: Inpatient Services, Rehabilitation Therapy Services, and All Other Services. It also provides a range of rehabilitation therapy services, including speech-language pathology, physical therapy, occupational therapy, and respiratory therapy.

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