National HealthCare (NYSEAMERICAN:NHC) Shares Gap Down – Here’s What Happened

National HealthCare Corporation (NYSEAMERICAN:NHC)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $219.84, but opened at $209.33. National HealthCare shares last traded at $222.0310, with a volume of 24,417 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. BMO Capital Markets raised shares of National HealthCare to a “hold” rating in a report on Monday, May 18th. Robert W. Baird upgraded National HealthCare to a “strong-buy” rating in a research note on Monday, May 18th. Royal Bank Of Canada raised National HealthCare to a “hold” rating in a report on Monday, May 18th. Finally, The Goldman Sachs Group upgraded National HealthCare to a “strong-buy” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

National HealthCare Price Performance

The stock has a market cap of $3.48 billion, a P/E ratio of 25.04 and a beta of 0.61. The stock’s 50-day moving average is $211.87 and its two-hundred day moving average is $183.94.

National HealthCare (NYSEAMERICAN:NHC) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.74 earnings per share (EPS) for the quarter. The company had revenue of $408.03 million for the quarter. National HealthCare had a net margin of 9.00% and a return on equity of 10.03%.

National HealthCare Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. National HealthCare’s payout ratio is currently 61.89%.

Insider Activity at National HealthCare

In other news, Director Lisa Piercey purchased 949 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $184.26 per share, with a total value of $174,862.74. Following the completion of the purchase, the director owned 949 shares in the company, valued at approximately $174,862.74. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 13.92% of the company’s stock.

Institutional Trading of National HealthCare

Several hedge funds have recently modified their holdings of NHC. Allworth Financial LP bought a new position in shares of National HealthCare during the 2nd quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of National HealthCare in the second quarter valued at $37,000. Caitong International Asset Management Co. Ltd bought a new position in National HealthCare during the third quarter valued at $25,000. Quarry LP grew its stake in shares of National HealthCare by 171.9% in the 3rd quarter. Quarry LP now owns 261 shares of the company’s stock worth $32,000 after buying an additional 165 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of National HealthCare in the 4th quarter worth about $42,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

National HealthCare Company Profile

National HealthCare Corporation (NYSE American: NHC) is a healthcare services company specializing in long-term care and post-acute rehabilitation. The company operates skilled nursing facilities, assisted living communities and outpatient therapy clinics. Through its subsidiary, National HealthCare Partners, NHC provides contract rehabilitation services, pharmacy management and clinical consulting to a broad network of senior living and healthcare providers.

Headquartered in Murfreesboro, Tennessee, National HealthCare Corporation has built a regional footprint across the southeastern and south-central United States.