Genesis Healthcare Inc. (NYSE:GEN) shares traded down 2.7% during mid-day trading on Monday . The stock traded as low as $2.90 and last traded at $2.92, with a volume of 187,834 shares. The stock had previously closed at $3.00.
Separately, Bank of America Corp. set a $1.80 target price on shares of Genesis Healthcare and gave the stock a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $3.33.
The firm has a 50-day moving average of $2.26 and a 200-day moving average of $2.14. The firm’s market cap is $258.27 million.
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Genesis Healthcare (NYSE:GEN) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by $0.27. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Genesis Healthcare had a negative return on equity of 5.36% and a negative net margin of 6.25%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. Analysts forecast that Genesis Healthcare Inc. will post ($1.49) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of GEN. Columbia Pacific Advisors LLC increased its position in shares of Genesis Healthcare by 24.6% in the second quarter. Columbia Pacific Advisors LLC now owns 4,026,928 shares of the company’s stock valued at $7,128,000 after buying an additional 795,272 shares during the last quarter. State Street Corp increased its position in shares of Genesis Healthcare by 53.8% in the second quarter. State Street Corp now owns 622,856 shares of the company’s stock valued at $1,102,000 after buying an additional 217,974 shares during the last quarter. Spark Investment Management LLC increased its position in shares of Genesis Healthcare by 247.5% in the first quarter. Spark Investment Management LLC now owns 276,600 shares of the company’s stock valued at $641,000 after buying an additional 197,000 shares during the last quarter. Forward Management LLC increased its position in shares of Genesis Healthcare by 16.2% in the first quarter. Forward Management LLC now owns 564,631 shares of the company’s stock valued at $1,310,000 after buying an additional 78,875 shares during the last quarter. Finally, A.R.T. Advisors LLC increased its position in shares of Genesis Healthcare by 206.4% in the first quarter. A.R.T. Advisors LLC now owns 115,051 shares of the company’s stock valued at $266,000 after buying an additional 77,500 shares during the last quarter. 8.07% of the stock is currently owned by institutional investors.
About Genesis Healthcare
Genesis Healthcare, Inc, formerly Skilled Healthcare Group, Inc, is a holding company that provides post-acute care. The Company operates through three segments: inpatient services, which includes the operation of skilled nursing facilities and assisted or senior living facilities; rehabilitation therapy services, which includes its integrated and third-party rehabilitation and respiratory therapy services, and all other services, including physician services and other healthcare related services.
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