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KND

Kindred Healthcare

$10.48

0.26 (2.54%)

, VTR

Ventas

$69.19

-1.44 (-2.04%)

17:06
10/03/16
10/03
17:06
10/03/16
17:06

Kindred sees FY16 revenue from LTAC hospitals $215M

Kindred Healthcare (KND) announced that it has completed its previously announced agreement to sell 12 long-term acute care hospitals for $27.5Mn to a group of entities operating under the name "Curahealth," which are affiliates of a private investment fund sponsored by Nautic Partners. The Hospitals have a total of 783 licensed beds in Arizona, Louisiana, Massachusetts, Oklahoma, Pennsylvania and Tennessee. Benjamin A. Breier, President and CEO of Kindred, commented, "We are pleased to complete the sale of 12 LTAC hospitals to Curahealth, as this transaction creates both strategic and financial value for Kindred. Optimizing our LTAC hospital portfolio is a key element of our LTAC criteria mitigation strategy and this transaction significantly advances that strategy. Nautic has a proven track record of success in the healthcare sector and will be a strong partner for these hospitals and the communities they serve." For the full fiscal year 2016, Kindred expects that the Hospitals will generate combined revenues of approximately $215M and earnings before interest, income taxes, depreciation and amortization at approximately breakeven. The Hospitals have $14M of annual aggregate rent expense. Kindred realized approximately $21 million of cash proceeds from this sale, subject to post-closing adjustments, with the remainder of the purchase price to be paid upon satisfaction of financial and other post-closing conditions. As previously announced, the Company amended various master lease agreements with Ventas (VTR) in April 2016 in connection with the proposed transaction with Curahealth. The transactions with Curahealth and Ventas are also expected to generate future cash income tax benefits for Kindred of approximately $37 million. Kindred anticipates reporting pretax charges of approximately $54 million related to the Ventas lease amendments and approximately $45 million to $55 million related to the transaction with Curahealth within fiscal 2016, of which approximately $8 million was recorded during the six months ended June 30. "We are excited to complete this transaction with Kindred and look forward to providing high-quality healthcare to existing and future patients in the markets these hospitals serve," said Chester Crouch, Chief Executive Officer of Curahealth.

KND

Kindred Healthcare

$10.48

0.26 (2.54%)

VTR

Ventas

$69.19

-1.44 (-2.04%)

KND Kindred Healthcare
$10.48

0.26 (2.54%)

11/05/15
11/05/15
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARC Document (ARC) downgraded to Market Perform from Outperform at William Blair... AVG Technologies (AVG) downgraded to Neutral from Overweight at JPMorgan... Allegion (ALLE) downgraded to In-Line from Outperform at Imperial Capital... Amec Foster Wheeler (AMFW) downgraded to Neutral from Buy at BofA/Merrill... American Residential downgraded to Market Perform at Raymond James... Avon Products (AVP) downgraded to Sell from Neutral at UBS... BankUnited (BKU) downgraded to Equal Weight from Overweight at Barclays... Bloomin' Brands (BLMN) downgraded to Equal Weight from Overweight at Morgan Stanley... CSG Systems (CSGS) downgraded to Equal-Weight from Overweight at First Analysis... Castlight Health (CSLT) downgraded to Market Perform from Outperform at Leerink... Centrica (CPYYY) downgraded to Neutral from Buy at Goldman... Cimarex Energy (XEC) downgraded to Hold from Buy at Wunderlich... Dyax (DYAX) downgraded to Hold from Buy at Needham... EVERTEC (EVTC) downgraded to Hold from Buy at Deutsche Bank... Energy Focus (EFOI) downgraded to Neutral from Buy at Roth Capital... FireEye (FEYE) downgraded to Market Perform from Outperform at FBR Capital... Franklin Covey (FC) downgraded to Market Perform from Outperform at William Blair... HSN, Inc. (HSNI) downgraded after results miss at Stifel... HomeAway (AWAY) downgraded to Neutral from Buy at UBS... Iberdrola (IBDRY) downgraded to Neutral from Buy at Goldman... Kindred Healthcare (KND) downgraded to Market Perform from Outperform at Wells Fargo... King Digital (KING) downgraded to Hold from Buy at Stifel... Lannett (LCI) downgraded to Hold from Buy at Craig-Hallum... Lombard Medical (EVAR) downgraded to Neutral from Buy at BTIG... Memorial Production (MEMP) downgraded to Hold from Buy at Wunderlich... Numerex (NMRX) downgraded to Neutral from Buy at Sidoti... Oracle (ORCL) downgraded to Market Perform from Outperform at FBR Capital... Ormat Technologies (ORA) downgraded to Market Perform from Outperform at Avondale... Papa Murphy's (FRSH) downgraded to Market Perform from Outperform at William Blair... Plains All American (PAA) downgraded on weak guidance at Stifel... SBA Communications (SBAC) downgraded to Hold from Buy at Evercore ISI... Sapiens (SPNS) downgraded to Neutral from Buy at Roth Capital... SodaStream (SODA) downgraded to Neutral at Susquehanna... Sun Life Financial (SLF) downgraded to Neutral from Outperform at Macquarie... Texas Roadhouse (TXRH) downgraded to Underweight at Morgan Stanley... Tilly's (TLYS) downgraded to Neutral from Buy at B. Riley... Time Warner (TWX) downgraded to Market Perform from Outperform at Wells Fargo... United Natural Foods (UNFI) downgraded to Neutral from Overweight at Piper Jaffray... Vermilion Energy (VET) downgraded to Sell from Neutral at Goldman... W.P. Carey (WPC) downgraded to Hold from Buy at Evercore ISI... Walker & Dunlop (WD) downgraded to Market Perform from Outperform at Keefe Bruyette... Westlake Chemical (WLK) downgraded on valuation, increased spending at RBC Capital... Wi-LAN (WILN) downgraded to Hold from Speculative Buy at Canaccord.
11/06/15
SUSQ
11/06/15
NO CHANGE
Target $20
SUSQ
Positive
Kindred Healthcare fundamentally undervalued, says Susquehanna
Susquehanna believes shares of Kindred Healthcare are fundamentally undervalued, particularly on a sum-of-the-parts basis, but said the stock is now a "show-me" story as the challenging environment for the hospital business is expected to continue. Susquehanna maintained its Positive rating, but lowered its price target to $20 from $30 on Kindred Healthcare shares.
12/18/15
AVON
12/18/15
DOWNGRADE
AVON
Market Perform
Kindred Healthcare downgraded to Market Perform from Outperform at Avondale
Avondale downgraded Kindred Healthcare to Market Perform and lowered its price target to $14 from $16 on shares. The firm sees risk surrounding the LTAC and criteria implementation along with potential weaker pricing and and increasing cost environment in 2016.
12/18/15
12/18/15
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aixtron (AIXG) downgraded to Equal Weight from Overweight at Morgan Stanley... ArcelorMittal (MT) downgraded to Sector Perform from Outperform at RBC Capital... Biodel (BIOD) downgraded to Market Perform from Outperform at William Blair... Boeing (BA) downgraded to Market Perform from Outperform at Wells Fargo... Bristow Group (BRS) downgraded to Market Perform from Outperform at William Blair... Charles Schwab (SCHW) downgraded to Neutral from Overweight at Piper Jaffray... Denbury Resources (DNR) downgraded at Stifel... EMC Insurance (EMCI) downgraded to Hold from Buy at Sandler O'Neill... Forum Energy (FET) downgraded to Market Perform from Outperform at William Blair... Fossil (FOSL) downgraded to Sell from Neutral at Goldman... GasLog Partners (GLOP) downgraded to Underweight from Neutral at JPMorgan... Herman Miller (MLHR) downgraded to Market Perform from Outperform at Raymond James... Hub Group (HUBG) downgraded to Neutral from Outperform at Baird... Investors Real Estate (IRET) downgraded to Hold from Buy at Wunderlich... Kindred Healthcare (KND) downgraded to Market Perform from Outperform at Avondale... Knight Transportation (KNX) downgraded to Neutral from Buy at Citi... LaSalle Hotel (LHO) downgraded to Underweight from Equal Weight at Barclays... National Oilwell (NOV) downgraded to Market Perform from Outperform at William Blair... Patriot National (PN) downgraded to Market Perform from Outperform at William Blair... Plains All American (PAA) downgraded to Neutral from Accumulate at Seaport Global... Plains GP Holdings (PAGP) downgraded to Neutral from Accumulate at Seaport Global... RLJ Lodging Trust (RLJ) downgraded to Underweight from Equal Weight at Barclays... Sandvik AB (SDVKY) downgraded to Underperform from Hold at Jefferies... Seadrill Partners (SDLP) downgraded to Neutral from Buy at Seaport Global... Synergy Pharmaceuticals (SGYP) downgraded to Neutral from Buy at Citi... Texas Instruments (TXN) downgraded to Market Perform from Outperform at Bernstein... Tim Participacoes (TSU) downgraded to Sell from Neutral at Goldman... Ultra Petroleum (UPL) downgraded on commmodity outlook, debt at Stifel.
VTR Ventas
$69.19

-1.44 (-2.04%)

07/13/16
ARGS
07/13/16
INITIATION
ARGS
Hold
Ventas initiated with a Hold at Argus
Argus analyst Jacob Kilstein initiated Ventas with a Hold citing full valuation.
07/26/16
RAJA
07/26/16
INITIATION
RAJA
Market Perform
Ventas initiated with a Market Perform at Raymond James
Raymond James analyst Jonathan Hughes started Ventas with a Market Perform rating.
08/01/16
HDLY
08/01/16
DOWNGRADE
HDLY
Underperform
Ventas downgraded to Underperform from Neutral at Hilliard Lyons
Hilliard Lyons analyst John Roberts downgraded Ventas to Underperform citing recent strong shares performance.
08/25/16
BTIG
08/25/16
INITIATION
BTIG
Neutral
Ventas initiated with a Neutral at BTIG

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