Pennant Group Inc Stock Price, News & Analysis

The Pennant Group, Inc. (NASDAQ: PNTG) has acquired the assets of Open Heart Hospice in Amarillo, Texas, effective September 1, 2021. This acquisition enhances Pennant's presence in the Texas Panhandle, aligning with its cluster model and providing opportunities for growth. CEO Danny Walker emphasized the strategic fit of the acquisition, which complements existing affiliate operations in nearby areas. The newly acquired entity will operate as Kinder Hearts Hospice of Amarillo and aims to integrate seamlessly with the Pennant family, enhancing community healthcare services.

The Pennant Group (NASDAQ: PNTG) reported significant growth in its Q2 2021 results, highlighting a 19.0% increase in total revenue to $110.3 million. Net income for the quarter was $2.7 million, with adjusted EBITDA at $8.6 million. Home Health and Hospice Services revenue surged 34.7% year-over-year to $78.1 million, while total home health admissions increased 91.5%. Senior Living Services also showed improvements, with revenues reaching $32.2 million and average occupancy at 72.7%. The company maintains its 2021 revenue guidance of $430 million to $440 million.

The Pennant Group, Inc. (NASDAQ: PNTG) announced plans to release its second quarter 2021 financial results on August 9, 2021. Following the release, a live webcast will take place on August 10, 2021, at 10:00 a.m. Mountain Time, where management will discuss the results. Investors can access the webcast and related information via the Investor Relations section of the company's website. Pennant operates 86 home health and hospice agencies and 54 senior living communities across several states.

The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of First Call Hospice in Sacramento, California, effective June 16, 2021. This strategic acquisition expands Pennant's presence in Northern California, enhancing its ability to provide quality home health and hospice services. First Call Hospice, with over 25 years of experience, is celebrated for its patient care and community involvement. Pennant's leadership emphasized continued efforts to expand through additional acquisitions across the United States.

The Pennant Group, Inc. (NASDAQ: PNTG) announced its participation in the 2021 RBC Capital Markets Global Healthcare Conference on May 18-19, 2021. Key executives, including President Brent Guerisoli and CFO Jennifer Freeman, will present in a fireside chat on May 18 at 5:25 p.m. Eastern Time, followed by investor calls on May 19. A live webcast of the presentation will be available on Pennant's Investor Relations website. Pennant operates 85 home health and hospice agencies and 54 senior living communities across multiple states.

The Pennant Group, Inc. (NASDAQ: PNTG) reported strong financial results for Q1 2021, with total revenue of $105.7 million, a 15% increase year-over-year. The home health and hospice services segment generated $74.6 million in revenue, up 31.4%, and achieved $13.8 million in adjusted EBITDAR. Total home health admissions rose by 48.3%. However, the senior living segment faced challenges, particularly due to COVID-19 and severe weather in Texas, impacting occupancy and leading to increased operational costs. Despite this, the company remains optimistic about growth and strategic acquisitions.

The Pennant Group, Inc. (NASDAQ: PNTG) announced the forthcoming release of its first quarter 2021 financial results on May 6, 2021. A live webcast will follow on May 7, 2021, at 10:00 a.m. MT, where management will discuss these results. The company operates healthcare services through 85 home health and hospice agencies and 54 senior living communities across various states. For more information, visit their Investor Relations website.

The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of the assets of Cardiovascular Home Care, effective May 1, 2021. This Texas-based home health service will be renamed Custom Care Home Health. CEO Danny Walker highlighted this as a strategic move to enhance community care in the Dallas-Fort Worth area, leveraging existing hospice and senior living services. The acquisition adds to Pennant's portfolio, which includes 85 home health and hospice agencies across the U.S., reinforcing its commitment to patient care quality.

The Pennant Group, Inc. (NASDAQ: PNTG) has acquired Pasco Southwest Home Health, effective April 1, 2021. This strategic acquisition enhances Pennant's presence in Colorado, offering a strong foundation for future expansion and new services. Pasco Southwest, known for its exceptional home health and personal care services over two decades, will benefit from Pennant's advanced resources. CEO Danny Walker and President Brent Guerisoli emphasized the commitment to maintaining high care standards while pursuing further acquisition opportunities across the U.S.