Genesis Healthcare (GEN) Stock Rating Upgraded by Stifel Nicolaus

Stifel Nicolaus upgraded shares of Genesis Healthcare (NYSE:GEN) from a hold rating to a buy rating in a report published on Wednesday, Marketbeat.com reports. The brokerage currently has $2.50 price objective on the stock, up from their prior price objective of $2.00.

Several other equities analysts have also weighed in on the stock. ValuEngine lowered shares of Genesis Healthcare from a buy rating to a hold rating in a research report on Tuesday, September 11th. Cantor Fitzgerald reaffirmed a buy rating and set a $7.00 price objective on shares of Genesis Healthcare in a research report on Wednesday, October 3rd. Finally, Credit Suisse Group initiated coverage on shares of Genesis Healthcare in a research report on Tuesday, October 16th. They set a neutral rating and a $1.75 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $3.31.

NYSE GEN opened at $1.59 on Wednesday. Genesis Healthcare has a 52-week low of $0.60 and a 52-week high of $2.86.

Genesis Healthcare (NYSE:GEN) last issued its quarterly earnings data on Wednesday, November 7th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.25). The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. On average, research analysts expect that Genesis Healthcare will post -1.34 EPS for the current fiscal year.

In related news, Director David A. Reis sold 19,456 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $1.64, for a total transaction of $31,907.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 2,224,012 shares of company stock worth $3,036,752. Insiders own 58.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Genesis Healthcare by 5.8% in the first quarter. BlackRock Inc. now owns 2,302,417 shares of the company’s stock valued at $3,476,000 after purchasing an additional 127,118 shares during the period. Acadian Asset Management LLC raised its position in shares of Genesis Healthcare by 715.9% in the second quarter. Acadian Asset Management LLC now owns 813,222 shares of the company’s stock valued at $1,862,000 after purchasing an additional 713,545 shares during the period. Macquarie Group Ltd. raised its position in shares of Genesis Healthcare by 27.2% in the second quarter. Macquarie Group Ltd. now owns 314,967 shares of the company’s stock valued at $721,000 after purchasing an additional 67,300 shares during the period. Citadel Advisors LLC bought a new position in shares of Genesis Healthcare in the second quarter valued at approximately $120,000. Finally, Renaissance Technologies LLC raised its position in shares of Genesis Healthcare by 55.3% in the second quarter. Renaissance Technologies LLC now owns 2,424,200 shares of the company’s stock valued at $5,551,000 after purchasing an additional 863,600 shares during the period. 20.41% of the stock is currently owned by institutional investors.

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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