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National Healthcare Corp. has a market cap of $511.4 million; its shares were traded at around $36.97 with a P/E ratio of 11.1 and P/S ratio of 0.7. The dividend yield of National Healthcare Corp. stocks is 3.3%. National Healthcare Corp. had an annual average earning growth of 5.1% over the past 10 years. GuruFocus rated National Healthcare Corp. the business predictability rank of 4-star.
Highlight of Business Operations:Proceeds from the sale of investments in marketable securities during the nine months ended September 30, 2011 and 2010 were $35,858,000 and $36,017,000, respectively. Investment gains of $399,000 and $702,000 were realized on these sales during the nine months ended September 30, 2011 and 2010, respectively.
Net patient revenues increased $16,790,000 or 10.2% compared to the same period last year. Medicare and Managed Care per diem rates increased 21.7% and 7.8%, respectively, compared to the quarter a year ago. Medicaid per diem rates decreased 0.9% compared to the quarter a year ago. The newly constructed or acquired businesses (three skilled nursing facilities and one assisted living community) helped increase net patient revenues approximately $5,112,000.
Net patient revenues increased $50,378,000 or 10.4% compared to the same period last year. Medicare, Managed Care, and Medicaid per diem rates increased 20.5%, 8.6%, and 0.7%, respectively, compared to the nine months a year ago. The newly constructed or acquired businesses (three skilled nursing facilities and one assisted living community) helped increase net patient revenues approximately $14,525,000.
Other revenues increased $1,620,000 or 3.8% in the nine-month 2011 period to $44,264,000 from $42,644,000 in the 2010 nine-month period. The increase in other revenues is primarily due to the increased collection of management and accounting services fees of $1,177,000, as further detailed in Note 3 of our interim condensed consolidated financial statements. Rental income also increased due to the renewed rental agreements of thirteen of our properties with third party operators.
Cash used in investing activities totaled $17,782,000 and $33,684,000 for the nine months ended September 30, 2011 and 2010, respectively. Cash used for property and equipment additions was $17,881,000 for the nine months ended September 30, 2011 and $18,919,000 in the comparable period in 2010. For the 2010 nine-month period, cash in the amount of $14,342,000 was used in the May 1, 2010 acquisition of three homecare programs in South Carolina. Cash provided by net collections of notes receivable was $1,573,000 in 2011 compared to $1,026,000 in 2010. Purchases and sales of restricted marketable securities resulted in a net use of cash of $1,474,000 for the 2011 period compared to $1,449,000 for the 2010 period.
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