Brokerages Set The Pennant Group, Inc. (NASDAQ:PNTG) Target Price at $33.80

The Pennant Group, Inc. (NASDAQ:PNTG) has been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $33.80.

Several equities analysts have recently issued reports on the stock. Stephens restated an “overweight” rating and set a $35.00 price objective on shares of The Pennant Group in a report on Tuesday, June 10th. Truist Financial cut their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company upped their price objective on shares of The Pennant Group from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday.

The Pennant Group Stock Performance

PNTG opened at $26.15 on Friday. The Pennant Group has a 52-week low of $21.18 and a 52-week high of $37.13. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.11. The company has a market cap of $903.74 million, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.21 and a beta of 1.48. The firm’s 50-day moving average price is $25.99 and its 200-day moving average price is $25.99.

Insiders Place Their Bets

In related news, Director Joanne Stringfield sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the transaction, the director owned 30,275 shares in the company, valued at approximately $892,204.25. This represents a 14.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNTG. LPL Financial LLC acquired a new position in The Pennant Group in the 4th quarter worth approximately $225,000. Vanguard Group Inc. increased its holdings in The Pennant Group by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company’s stock worth $59,977,000 after buying an additional 223,919 shares during the period. Wellington Management Group LLP increased its holdings in The Pennant Group by 16.0% in the 4th quarter. Wellington Management Group LLP now owns 48,853 shares of the company’s stock worth $1,296,000 after buying an additional 6,753 shares during the period. Geode Capital Management LLC increased its holdings in The Pennant Group by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 767,628 shares of the company’s stock worth $20,362,000 after buying an additional 85,496 shares during the period. Finally, ExodusPoint Capital Management LP increased its holdings in The Pennant Group by 111.3% in the 4th quarter. ExodusPoint Capital Management LP now owns 41,515 shares of the company’s stock worth $1,101,000 after buying an additional 21,864 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.