Welcome to our dedicated page for Pennant Group news (Ticker: PNTG), a resource for investors and traders seeking the latest updates and insights on Pennant Group stock.
The Pennant Group, Inc. (NASDAQ: PNTG) is an established healthcare provider in the United States, serving patients of all ages with a particular focus on the growing senior population. The company operates in multiple segments including home health, hospice, and senior living services. Pennant Group’s senior living services comprise assisted living, independent living, and memory care facilities located across Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming.
The company derives a significant portion of its revenue from its home health and hospice segments, which collectively include home health, hospice, and home care services. These services are designed to provide comprehensive and compassionate care to individuals in the comfort of their homes, enhancing their quality of life and supporting their families.
In recent developments, Pennant Group formed a strategic joint venture with John Muir Health to create Muir Home Health, a new entity aimed at delivering home health services throughout the Bay Area. This collaboration leverages John Muir Health’s extensive healthcare expertise and Pennant Group’s profound experience in home health management. The venture is set to offer a range of services including skilled nursing, physical therapy, occupational and speech therapy, home health aide, and medical social work services.
Pennant Group is committed to innovation and quality care, backed by its operational model that empowers local leadership teams to implement effective clinical programs and ensure seamless transitional care. The company's leadership underscores their dedication to providing exceptional patient care and supporting their employees, as evidenced by the glowing remarks from both Pennant Group and John Muir Health executives regarding the new joint venture.
Financially, the company continues to maintain a solid performance, with ongoing projects and partnerships designed to expand its service delivery and enhance patient outcomes. Investors and stakeholders can stay informed about the latest updates by tuning into their scheduled conference calls and webcasts, the next of which is slated for May 7, 2024, at 10:00 am MT.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of Kenosha Visiting Nurse Association, Inc. (KVNA) located in Kenosha, Wisconsin. This acquisition aims to deepen Pennant's home health operations in southern Wisconsin, enhancing the continuum of care for local residents. Brent Guerisoli, CEO, expressed enthusiasm about partnering with KVNA to serve the community effectively. KVNA has a strong legacy of community service since 1927. Pennant Group continues to seek high-quality healthcare acquisition opportunities across the United States.
The Pennant Group, Inc. (NASDAQ: PNTG) has announced the acquisition of Ardent Hospice and Palliative Care, enhancing its hospice services in California, particularly in Palm Springs, the Central Valley, and San Diego. This strategic acquisition is expected to strengthen Pennant's footprint in these regions, as Ardent previously had an average daily census of approximately 90 hospice patients. CEO Brent Guerisoli expressed excitement about expanding their hospice operations and the potential to deliver high-quality care to more communities. Pennant continues its pursuit of further acquisition opportunities nationwide.
The Pennant Group, Inc. (NASDAQ: PNTG) reported its second-quarter 2022 results, revealing a GAAP diluted loss per share of $0.09 and adjusted diluted EPS of $0.14. Total revenue reached $116.3 million, a 5.4% increase year-over-year. The home health segment generated $85.3 million, driven by a 6.3% rise in Medicare admissions. However, the senior living services segment saw revenue drop to $31.0 million, a 3.9% decrease. The company ended the quarter with $3.2 million in cash and reaffirmed its 2022 revenue guidance of $450-$460 million.
The Pennant Group, Inc. (NASDAQ: PNTG) will release its second quarter 2022 financial results on August 8, 2022. A live webcast to discuss these results is scheduled for August 9, 2022, at 10:00 a.m. Mountain Time (12:00 p.m. Eastern Time). Investors can access the webcast and related financial information on the company's Investor Relations website. Pennant operates 89 home health and hospice agencies and 49 senior living communities across various U.S. states, ensuring independent operations for each subsidiary.
The Pennant Group (NASDAQ: PNTG) announced that Brent Guerisoli will succeed Daniel Walker as CEO effective August 1, 2022. Walker will remain Chairman of the Board. This transition aims to reduce Walker's obligations for personal reasons while ensuring continued leadership stability. Guerisoli has significant experience within the company, contributing to its growth and operational improvements. Alongside this, John Gochnour has been appointed President and COO. The company operates 89 home health agencies and 48 senior living communities across 14 states, reflecting its extensive reach in the healthcare sector.
The Pennant Group, Inc. (NASDAQ: PNTG) announced its participation in the 2022 RBC Global Healthcare Conference on May 18, 2022. Key executives, including Brent Guerisoli, President, John Gochnour, COO, and Derek Bunker, CIO, will engage in a fireside chat at 11:30 a.m. Eastern Time. Investors can access the live webcast via the Investor Relations section of Pennant’s website. The company operates 89 home health and hospice agencies and 48 senior living communities across various U.S. states, emphasizing its commitment to providing essential healthcare services.
The Pennant Group (NASDAQ: PNTG) reported first-quarter 2022 results showing total revenue of $113.9 million, up 7.8% year-over-year. The net income was $1.0 million with GAAP diluted EPS of $0.03. Home Health and Hospice Services revenue grew to $80.5 million, a 7.9% increase, while Senior Living Services revenue rose to $33.4 million, a 7.7% increase. The company maintained its guidance for 2022 with anticipated revenues between $450 million and $460 million and adjusted EPS of $0.60 to $0.72, despite facing challenges from the Omicron variant and labor pressures.
The Pennant Group, Inc. (NASDAQ: PNTG) announced its plans to release first quarter 2022 financial results on May 9, 2022. A live webcast is scheduled for May 10, where management will discuss the results at 10:00 a.m. Mountain Time. Pennant operates 89 home health and hospice agencies and 48 senior living communities across several states including Arizona, California, and Texas. Investors can access financial information on the company's website, with a replay of the webcast available until June 3, 2022.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of First Choice Home Health effective May 1, 2022, enhancing its home health services in Bozeman, Montana. This acquisition strengthens Pennant's existing hospice operations, allowing for a broader continuum of care. Additionally, on April 29, 2022, Pennant acquired the real estate for Heritage Assisted Living of Twin Falls, marking its first owned real estate asset, financed through its revolving line of credit. Pennant continues to seek further acquisitions in the healthcare sector.
The Pennant Group, Inc. (NASDAQ: PNTG) will present at the 2022 Oppenheimer Healthcare Conference on March 16, 2022. CFO Jennifer Freeman and CIO Derek Bunker will speak from 2:40 p.m. to 3:10 p.m. Eastern Time. A live webcast of this presentation will be available on the company's Investor Relations page. Pennant operates 88 home health and hospice agencies and 52 senior living communities across 11 states, each managed by its own independent subsidiary, ensuring distinct management and operations for each service.
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