Locally based RBC Capital Markets analyst Frank Morgan has lowered his price target on shares of Brookdale Senior Living to $26 from $28. Morgan has kept his "outperform" rating on the stock, which has climbed by more than 25 percent (Ticker: BKD) in the past month but is down more than 20 percent this year. Brentwood-based Brookdale last week reported Q3 numbers its CEO called "solid."
Researcher Rob Mains at Morgan Keegan has raised his price target for Healthcare Realty Trust (Ticker: HR) to $22, which is changing hands this afternoon at about $18.30. The move comes a week after Nashville-based Healthcare Realty said it had reversed its year-ago Q3 loss.
Covington Health, the Georgia-based group of investors that's been steadily accumulating shares of nursing home operator Advocat since late this spring, is still in the game for more. Over the past three trading days, Covington paid about $70,000 for another 11,700 shares. But there's still no word on what, if anything, its members actually want the company to do or change.
Another week, another post about a group of Georgia investors adding to its stake in nursing home chain Advocat. John McMullan individually and Covington Health as a group last Thursday and Friday snapped up Advocat shares (Ticker: AVCA) around $6 and adding to their 12 percent stake in the Brentwood-based company.
SEE ALSO: Our past reports on Covington's interest in Advocat
Kristin Gaines, the chief credit officer at National Health Investors, last week sold a fifth of her shares in the Murfreesboro-based medical properties REIT. Gaines, a 13-year company veteran who assumed her current post in March of last year, booked gross proceeds of $279,000 from the move. Her sale is the latest in a series of local insiders' moves to lighten their stock holdings.
Covington Health Care, the investment group that has been busily building a stake in Advocat, last week snapped up another 6,500 shares of the nursing home chain. It'll be interesting to see what, if anything, Covington's members do now that President and CEO Will Council has announced he's leaving the company. Advocat shares (Ticker: AVCA) closed Friday trading at $6.51 and are up 25 percent this year.
UBS analyst Justin Lake has hiked his earnings estimates for Medicare insurer HealthSpring. But Lake, who has a 'buy' rating on the company, is sticking to his $52 price target, which still leaves the stock (Ticker: HS) about 40 percent of upside.
Morgan Keegan researcher Rob Mains says Brookdale Senior Living shares also can still climb more than 40 percent, but isn't in a hurry to jump in. In a note reiterating his 'outperform' rating, Mains says the stock (Ticker: BKD) may remain cheap "for a few months."
And over at Hilliard Lyons, analysts have launched coverage of Clarcor shares with a 'buy' rating and a $54 price target. That makes the firm the most optimistic on the Street about Clarcor (Ticker: CLC), which is changing hands at roughly $44 today.
The M&A attorneys for Vanguard Health Systems, Ardent Health Services, AmSurg, Community Health Systems and Brookdale Senior Living have been busy lately. Vanguard has completed its $210 million purchase of 51 percent of Texas hospital system Valley Baptist. Meanwhile, Ardent wrapped up its deal for two CHS hospitals in Oklahoma and AmSurg completed its acquisiton of Dallas-based National Surgical Care. Lastly, Brookdale put a bow on its acquisition of Horizon Bay Realty, whose assets are primarily in Texas and Florida. The last deal also involved negotiations for a Brookdale option to up to 20 percent of the U.S. portfolio of Chartwell Seniors Housing Real Estate Investment Trust.