Genesis Healthcare Inc. (GEN) Lowered to “Sector Perform” at Royal Bank Of Canada
Genesis Healthcare Inc. (NYSE:GEN) was downgraded by research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Monday. They presently have a $3.50 price objective on the stock, up from their previous price objective of $3.00. Royal Bank Of Canada’s price target would suggest a potential upside of 0.57% from the company’s current price.
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, September 19th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.68.
Shares of Genesis Healthcare (NYSE:GEN) opened at 3.48 on Monday. Genesis Healthcare has a 52-week low of $1.38 and a 52-week high of $5.14. The stock’s market cap is $314.88 million. The stock’s 50 day moving average price is $2.81 and its 200-day moving average price is $2.29.
Genesis Healthcare (NYSE:GEN) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.17. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Genesis Healthcare will post ($1.28) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in shares of Genesis Healthcare during the third quarter worth $8,783,000. First Washington CORP bought a new position in shares of Genesis Healthcare during the third quarter worth $2,860,000. Columbia Pacific Advisors LLC raised 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 worth $7,128,000 after buying an additional 795,272 shares during the period. State Street Corp raised 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 worth $1,102,000 after buying an additional 217,974 shares during the period. Finally, Panagora Asset Management Inc. raised its position in shares of Genesis Healthcare by 60.5% in the third quarter. Panagora Asset Management Inc. now owns 432,815 shares of the company’s stock worth $1,156,000 after buying an additional 163,184 shares during the period. 8.73% of the stock is owned by hedge funds and other institutional investors.
Genesis Healthcare Company Profile
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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