The Pennant Group (NASDAQ:PNTG) Given New $31.00 Price Target at Wells Fargo & Company

The Pennant Group (NASDAQ:PNTG) had its price objective lifted by Wells Fargo & Company from $30.00 to $31.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also commented on PNTG. Truist Financial raised their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of The Pennant Group in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.20.

The Pennant Group Stock Performance

Shares of NASDAQ:PNTG opened at $29.07 on Tuesday. The firm has a market cap of $1.00 billion, a PE ratio of 42.75, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The firm’s 50 day simple moving average is $26.77 and its 200-day simple moving average is $26.89. The Pennant Group has a one year low of $21.18 and a one year high of $37.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

Insider Activity at The Pennant Group

In related news, Director Joanne Stringfield sold 5,000 shares of The Pennant Group stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the transaction, the director now directly owns 30,275 shares of the company’s stock, valued at $892,204.25. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Pennant Group

Several institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its stake in The Pennant Group by 20.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock valued at $91,000 after acquiring an additional 575 shares in the last quarter. Versor Investments LP boosted its stake in The Pennant Group by 6.2% in the first quarter. Versor Investments LP now owns 12,000 shares of the company’s stock valued at $302,000 after acquiring an additional 700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in The Pennant Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after acquiring an additional 857 shares in the last quarter. Corebridge Financial Inc. boosted its stake in The Pennant Group by 6.2% in the fourth quarter. Corebridge Financial Inc. now owns 16,227 shares of the company’s stock valued at $430,000 after acquiring an additional 954 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in The Pennant Group in the first quarter valued at approximately $25,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Company Profile

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.