Just as the dust is settling on the second-quarter earnings season, John Ransom at Raymond James has raised his rating on shares of Community Health Systems to 'outperform' from 'market perform.' He had gone in the other direction following the Supreme Court's Obamacare ruling in June, but the stock has since retreated near to pre-ruling levels. His new price target for the stock is $70. It was changing hands Friday morning (Ticker: CYH) at about $57.60.
Another analyst has weighed in on the prospects for shares of National Health Investors following word of the pending exit of CEO Justin Hutchens. And just like Juan Sanabria at Bank of America Merrill Lynch, John Kim at BMO Capital Markets says Hutchens' departure is a blow for NHI. He sees "very little managerial depth" at the Murfreesboro-based company and has lowered his rating on the company to 'market perform' from 'outperform.' He also has trimmed his price target more than 10 percent to $65. NHI (Ticker: NHI) is trading at about $58.50.
Senior living community The Heritage at Brentwood has partnered with Williamson Medical Group to open a walk-in clinic on the community campus.
The new clinic will provide physicians and offer lab testing, prescriptions and vaccinations, among other services.
"Thanks to our partnership, residents at The Heritage will not only benefit from the medical physician on site, but they will have better access to Williamson Medical Group's complete physician network, including specialists," Tim Burton, Williamson Medical Center associate administrator, said in a release. "This improved access will give residents the ability to streamline health care providers and medical records, which can lead to more efficient and effective care."
Bank of America Merrill Lynch analyst Juan Sanabria is a little unsettled by the looming and unexpected departure at National Health Investors of CEO Justin Hutchens. Sanabria on Tuesday downgraded shares of the Murfreesboro-based real estate investment trust to ‘underperform’ from ‘neutral,’ saying Hutchens’ exit creates added uncertainty. NHI shares (Ticker: NHI) slipped a bit Wednesday to $59.29. So far this year, they’re down about 15 percent.
Murfreesboro-based National HealthCare Corp. will break ground this week on a 112-bed skilled nursing center in Maury County.
The new Columbia facility is a joint venture between NHC and Maury Regional Medical Center and represents an $18 million investment. Last October, NHC began work on a similar facility in Bellevue. NHC Place at the Trace is expected to open next spring.
Shares of NHC (Ticker: NHC) were $62.80 Monday afternoon. Year to date, they're flat.
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