National HealthCare (NYSE:NHC) Downgraded by StockNews.com to Buy

StockNews.com cut shares of National HealthCare (NYSE:NHC) from a strong-buy rating to a buy rating in a report published on Friday morning.

National HealthCare Price Performance

NYSE NHC opened at $135.76 on Friday. National HealthCare has a 52-week low of $71.47 and a 52-week high of $138.49. The company has a market cap of $2.09 billion, a P/E ratio of 17.01 and a beta of 0.41. The stock’s fifty day moving average is $123.69.

National HealthCare (NYSE:NHC) last posted its quarterly earnings data on Friday, August 9th. The company reported $1.00 earnings per share (EPS) for the quarter. National HealthCare had a net margin of 7.74% and a return on equity of 6.39%. The company had revenue of $300.66 million during the quarter.

National HealthCare Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, December 30th. National HealthCare’s dividend payout ratio is currently 30.58%.

Insiders Place Their Bets

In other National HealthCare news, SVP Brian F. Kidd sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $130.01, for a total transaction of $260,020.00. Following the completion of the sale, the senior vice president now directly owns 21,747 shares in the company, valued at $2,827,327.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.75% of the stock is currently owned by insiders.

Institutional Trading of National HealthCare

Institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund purchased a new stake in National HealthCare during the first quarter valued at about $745,000. UniSuper Management Pty Ltd purchased a new stake in National HealthCare during the first quarter valued at about $366,000. TD Asset Management Inc boosted its position in National HealthCare by 51.7% during the second quarter. TD Asset Management Inc now owns 13,500 shares of the company’s stock valued at $1,463,000 after buying an additional 4,600 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in National HealthCare during the second quarter valued at about $323,000. Finally, Allspring Global Investments Holdings LLC boosted its position in National HealthCare by 30.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 64,688 shares of the company’s stock valued at $8,136,000 after buying an additional 15,061 shares during the period. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

About National HealthCare

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.