Genesis Healthcare (GEN) Research Coverage Started at Credit Suisse Group

Credit Suisse Group initiated coverage on shares of Genesis Healthcare (NYSE:GEN) in a research note issued to investors on Tuesday morning, The Fly reports. The firm issued a neutral rating and a $1.75 price target on the stock.

Several other equities research analysts have also weighed in on GEN. ValuEngine upgraded shares of Genesis Healthcare from a hold rating to a buy rating in a report on Monday, July 2nd. Cantor Fitzgerald reiterated a buy rating and issued a $7.00 target price on shares of Genesis Healthcare in a report on Wednesday, October 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $3.19.

GEN opened at $1.43 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of -2.61. The firm has a market capitalization of $237.46 million, a price-to-earnings ratio of -0.68 and a beta of 0.78. Genesis Healthcare has a twelve month low of $0.60 and a twelve month high of $2.86.

Genesis Healthcare (NYSE:GEN) last posted its earnings results on Tuesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.13). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business posted ($0.70) EPS. Research analysts predict that Genesis Healthcare will post -1.42 earnings per share for the current year.

In related news, Director David A. Reis sold 44,975 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $1.74, for a total transaction of $78,256.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 380,135 shares of company stock worth $647,593. 58.10% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of Genesis Healthcare during the second quarter worth $120,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Genesis Healthcare during the first quarter worth $153,000. California Public Employees Retirement System raised its holdings in shares of Genesis Healthcare by 23.3% during the first quarter. California Public Employees Retirement System now owns 309,910 shares of the company’s stock worth $468,000 after acquiring an additional 58,610 shares during the period. Millennium Management LLC raised its holdings in shares of Genesis Healthcare by 40.6% during the first quarter. Millennium Management LLC now owns 338,678 shares of the company’s stock worth $511,000 after acquiring an additional 97,834 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of Genesis Healthcare by 27.2% during the second quarter. Macquarie Group Ltd. now owns 314,967 shares of the company’s stock worth $721,000 after acquiring an additional 67,300 shares during the period. Institutional investors and hedge funds own 19.72% of the company’s stock.

About Genesis Healthcare

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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