Raymond James Financial Services Advisors Inc. lifted its position in National HealthCare Co. (NYSEMKT:NHC) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,239 shares of the company’s stock after purchasing an additional 38 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in National HealthCare were worth $438,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NHC. Russell Investments Group Ltd. boosted its position in shares of National HealthCare by 1.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 56,013 shares of the company’s stock valued at $3,929,000 after purchasing an additional 904 shares during the period. Bowling Portfolio Management LLC acquired a new stake in shares of National HealthCare in the 2nd quarter valued at about $870,000. Sei Investments Co. boosted its position in shares of National HealthCare by 70.8% in the 2nd quarter. Sei Investments Co. now owns 4,121 shares of the company’s stock valued at $289,000 after purchasing an additional 1,708 shares during the period. Cigna Investments Inc. New acquired a new stake in shares of National HealthCare in the 2nd quarter valued at about $242,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of National HealthCare by 0.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 44,843 shares of the company’s stock valued at $3,146,000 after purchasing an additional 356 shares during the period.
National HealthCare Co. (NHC) opened at $64.03 on Friday. National HealthCare Co. has a one year low of $57.73 and a one year high of $78.99.
National HealthCare (NYSEMKT:NHC) last issued its earnings results on Friday, August 4th. The company reported $0.70 earnings per share (EPS) for the quarter. The business had revenue of $239.46 million during the quarter. National HealthCare had a return on equity of 6.26% and a net margin of 4.41%.
National HealthCare announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 9th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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In related news, SVP Jeffrey Russell Smith sold 1,848 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $62.78, for a total value of $116,017.44. Following the completion of the transaction, the senior vice president now directly owns 3,111 shares of the company’s stock, valued at approximately $195,308.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
NHC has been the subject of several analyst reports. BidaskClub downgraded National HealthCare from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. ValuEngine downgraded National HealthCare from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd.
National HealthCare Company Profile
National HealthCare Corporation (NHC) is engaged in the operation of skilled nursing facilities, assisted living facilities, independent living facilities and homecare programs. The Company is engaged in the post-acute healthcare industry segment. Its business activities include providing sub-acute and post-acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer’s care, senior living services, and home healthcare services.
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