The Pennant Group Acquires Pasco Southwest Home Health


The Pennant Group announced the acquisition of home health and personal care services provider, Pasco Southwest Home Health. The Pennant Group is the holding company of the Pennant group of affiliated home health, hospice and senior living companies.

Pennant’s (PNTG) Chief Executive Officer, Danny Walker said, “We are pleased to announce the acquisition of Pasco Southwest Home Health. This strategic acquisition expands our footprint in Colorado and provides an excellent foothold for future expansion and new service offerings in the area.”

Brent Guerisoli, President of Pennant said, “For more than two decades, Pasco Southwest’s dedicated staff of clinicians and caregivers have set a high benchmark for passionate care and service. We look forward to continuing and building upon this legacy of outstanding care with Pennant’s world-class tools and resources.” (See Pennant Group stock analysis on TipRanks)

The company continues to look for further acquisition opportunities in the U.S. At present, it has 84 home health and hospice agencies and 54 senior living communities.

Recently, Truist Financial analyst David S. Macdonald reiterated a Hold rating on the stock and raised its price target to $60 (30.3% upside potential) from $44.

Macdonald believes that cash flows in Healthcare Services remain robust and the valuations are attractive.

The other analyst covering the stock, RBC Capital’s Frank Morgan, also has a Hold rating on the stock with a $52 price target (13% upside potential).

The two ratings combine to a Hold consensus rating with a $56 price target (21.7% upside potential). Shares have gained about 223.4% over the past year.

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