From Orange County Business Journal:
...Since August, Irvine-based Sun Healthcare Group
Inc. and Lake Forest’s Skilled Healthcare Group Inc. have seen their
shares drop more than 40%. Sun had a recent market value of about $400
million. Skilled was worth about $300 million.
The third nursing home operator based here—Ensign
Group Inc. of Mission Viejo—is a different story entirely. Its shares
are up 35% since August with a recent market value of $330 million....
...Since August, Irvine-based Sun Healthcare Group
Inc. and Lake Forest’s Skilled Healthcare Group Inc. have seen their
shares drop more than 40%. Sun had a recent market value of about $400
million. Skilled was worth about $300 million.
The third nursing home operator based here—Ensign
Group Inc. of Mission Viejo—is a different story entirely. Its shares
are up 35% since August with a recent market value of $330 million....
But the split with Ensign could come down to a
big worry on the minds of investors these days: debt. Ensign seems to
be defying Wall Street’s nursing home downturn because of its low debt
and ample cash.
As of Sept. 30, Ensign had about $60 million in
long-term debt and $56 million in cash and equivalents. The company’s
debt-to-capital ratio is 20%, less than half that of Skilled and Sun...
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