The Ensign Group Inc – 2021 Best Medical Stock
The pandemic has shifted the world’s attention towards healthcare. We are not talking about just the virus-related illness and the oxygen requirements. There has been a realization among people to pay greater attention to their health in general. The elderly and those with long-term conditions are also among the people that are thinking a lot about their health and life in general. There is a company that focuses on providing post-acute health care services through skilled nursing and by operating elderly care facilities. This company also invests in real estate that deals in elderly care and post-acute health services. We are talking about the Ensign Group. If you are an investor on the lookout for medical stock now, then companies like Ensign can be quite an exciting proposition. The company recently announced its quarterly earnings, which are discussed below.
Ensign Group Releases 3Q2021 Earnings Numbers
On 27th October 2021, The Ensign Group announced its third-quarter 2021 earnings results. The total revenue was $599 million in Q32020 to $668 million. The total income from operations was also up from $55 million in Q32020 to $66 million. The provision for income tax went up significantly, which resulted in a net income of $48 million as compared to $43 million achieved in the third quarter of 2020. The earnings per share on a diluted basis were up from $0.77 achieved in Q32020 to $0.83. In terms of the revenue segments, the skilled services revenue grew the most at 12.6% when comparing the same quarter’s number the previous year. The occupancy level of operational beds also improved slightly from 71% to 74% year-on-year. If you are looking for 2021 best medical stock, then it may be worth your while to check out The Ensign Group.
Medical Stock Now
Company CEO Barry Port touched on the much-discussed topic of staffing shortages. He expressed confidence that such shortages are transitory, and he did not expect them to last over the longer term. Overall, the management sounded happy with the quarterly performance in spite of the disruptions due to the pandemic.