Stephens raised the firm’s price target on Pennant Group to $23 from $22 and keeps an Overweight rating on the shares. CMS released proposed Medicare Hospice provider rate updates for FY25 at +2.6%, reflecting a +$705M projected increase in overall payments, the analyst tells investors in a research note. The proposed FY25 rates compare to final and proposed FY2024 rates of +3.1% and +2.8%, respectively.
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