Welcome to our dedicated page for The Pennant Group news (Ticker: PNTG), a resource for investors and traders seeking the latest updates and insights on The 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 its participation in the 2022 Stifel Seniors Housing and Healthcare Real Estate Conference on January 27, 2022. President Brent Guerisoli will join a panel discussion with senior living operators from 2:00 p.m. to 2:45 p.m. Eastern Time. A live webcast of the discussion will be available on Pennant's Investor Relations webpage. The company operates 88 home health and hospice agencies and 54 senior living communities across multiple states, emphasizing its independent operating subsidiaries.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the retirement of director Roderic W. Lewis effective December 31, 2021. Gregory K. Morris, MD, has been appointed to fill the vacancy starting January 1, 2022. CEO Daniel Walker expressed gratitude for Lewis's contributions, particularly during the company’s transition to a standalone public entity. Morris brings extensive experience in healthcare strategy and leadership development, having worked with various Fortune 1000 companies. He will join the Quality Assurance and Compliance Committee and is recognized as an independent director.
The Pennant Group, Inc. (NASDAQ: PNTG) will present at the 2021 Stephens Annual Investment Conference on December 3, 2021, at 8:00 a.m. Central Time. Key executives participating include CEO Danny Walker, COO John Gochnour, CFO Jennifer Freeman, and CIO Derek Bunker. Investors can access a live webcast of the presentation through the Investor Relations section of Pennant's website. Pennant operates 88 home health and hospice agencies and 54 senior living communities across multiple states, emphasizing independent management for each subsidiary.
The Pennant Group, Inc. (NASDAQ: PNTG) reported third-quarter fiscal 2021 results, showing total revenue of $111.9 million, a 13.7% increase year-over-year. Net income was $1.2 million, with adjusted diluted EPS at $0.11. The Home Health and Hospice segment generated $79.0 million in revenue, up 22.7%. Total home health admissions rose 36.1%, while senior living occupancy increased to 73.7%. However, challenges due to COVID-19 and labor pressures were noted. The company projects 2022 revenue between $468.0 and $478.0 million, reflecting a 10.6% increase over 2021 projections.
The Pennant Group (NASDAQ: PNTG) has previewed its expected third-quarter results for 2021, indicating challenges from rising COVID-19 cases and labor shortages. The company anticipates total revenue of $111.9 million, with its Home Health and Hospice segment seeing a 22.7% year-over-year increase. However, the Senior Living segment experienced a 3.2% decline. Net income stood at $1.2 million, with EPS at $0.04. The company has adjusted its full-year guidance to $425 million-$430 million in revenue, citing ongoing impacts from COVID-19 and operational challenges.
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.
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