Gentiva Is Cheap But Still Hard To Get Excited About
Oct. 9, 2014, 12:46 PM
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- Gentiva Health Services (NASDAQ:GTIV) +9.9% AH after rejecting Kindred Healthcare's (NYSE:KND) latest offer to buy a stake, saying it received a more valuable bid for the whole company from a party it identifies only as "a recognized owner, operator and investor in the sector."
- In rejecting KND's $16/share offer for a 14.9% stake, GTIV says the new suitor offered $17.25/share for all of its shares.
- GTIV says its board and advisers will review the new bid in due course, while saying KND's offer for the 14.9% position "would only be used as an irritant."
Jul. 17, 2014, 5:35 PM
Jun. 16, 2014, 5:58 PM
- Gentiva Health Services (GTIV) +4.6% AH after Kindred Healthcare (KND) sweetens its offer for the home health and hospice company to $14.50/share, $0.50 more than the $14/share it proposed last month; KND -1.6% AH.
- The new bid brings the value of the deal to $573M, although the total package could reach as much as $1.7B if debt is included.
- KND says it plans to offer at least 9M common shares to raise funds for the proposed acquisition; if the takeover isn't completed, KND says it would use the funds toward other potential acquisitions or for other purposes including paying down debt.
- KND also reaffirms its 2014 guidance, expecting income from continuing operations of $1.05-$1.25 per diluted share vs. analyst consensus $1.16 and consolidated revenues of ~$5.2B vs. $5.14B consensus.
Jun. 16, 2014, 5:36 PM
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May 7, 2014, 11:33 AM
- Shares of Gentiva Health Services (GTIV +15.5%) are up in modest volume this morning after the company reported Q1 results.
- Net revenues: $487.5M (+17.3%); home health: $256M (+8.4%); hospice: $174.4M (-2.8%); community care: $57.1M; gross profit: $214.4M (+10.5%); operating income: $16.4M (-51.9%); EPS: $0.01 vs ($6.73); quick assets (ex-A/R): $62.9M (-27.7%); cash burn: ($17.7M) (+14.1%).
- Net revenues by payer source: Medicare: $372M (+3.2%); Medicaid/local gov: $71.1M (+288.5%); commercial: $44.4M (+20.4%).
- Home health episodes: 82.6K (+14.4%); revenue/episode: $2.7K (-5.6%).
- Hospice patient days: 1.168M (+1.9%).
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Gentiva Health Services Inc is a provider of home health services and hospice services serving patients throughout the United States. Its segments include Home Health segment, Hospice segment and Community care.
Industry: Home Health Care
Country: United States
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