Genesis Healthcare Inc (GEN) is Downgraded by BofA/Merrill to Underperform

Genesis Healthcare Inc (GEN) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on May 16, 2016.

Many Wall Street Analysts have commented on Genesis Healthcare Inc. Shares were Reiterated by RBC Capital Mkts on May 16, 2016 to “Outperform” and Lowered the Price Target to $ 3 from a previous price target of $5 .

On the company’s financial health, Genesis Healthcare Inc reported $-0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.03. The company had revenue of $1472.22 million for the quarter, compared to analysts expectations of $1434.91 million. The company’s revenue was up 9.6% compared to the same quarter last year.

Genesis Healthcare Inc opened for trading at $2 and hit $2.04 on the upside on Friday, eventually ending the session at $2.01, with a gain of 0.50% or 0.01 points. The heightened volatility saw the trading volume jump to 1,69,127 shares. Company has a market cap of $309 M.

In a different news, on Nov 13, 2015, Thomas Divittorio (CFO) purchased 20,000 shares at $4.34 per share price. According to the SEC, on Nov 13, 2015, James V Mckeon (director) purchased 10,000 shares at $4.15 per share price.

Genesis Healthcare Inc. formerly Skilled Healthcare Group Inc. is a holding company that provides post-acute care. The Company operates through three segments: long-term care (LTC) which includes the operation of skilled nursing facilities and assisted living facilities; therapy services which includes its integrated and third-party rehabilitation therapy services and hospice and home health services which includes its hospice and home health businesses. As of December 31 2014 it owned or leased 73 skilled nursing facilities and 22 assisted living facilities together comprising 10275 licensed beds. It also leases five skilled nursing facilities in California to an unaffiliated third party operator. As of December 31 2014 it provided hospice and home health services in Arizona Idaho Montana Nevada and New Mexico. It also provided private duty care services.

Genesis Healthcare Inc

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