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The Joint (JYNT) Forays Into West Virginia Chiropractic Market
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The Joint Corp. (JYNT - Free Report) announced that it has opened its first location in West Virginia, boosting its presence to 42 states. The facility in Morgantown is strategically located and expected to cater to new patients, offering affordable and easily accessible chiropractic care.
The facility is positioned near the West Virginia University campus, at a high-traffic shopping center. This is likely to bring patients from different businesses and demographics to JYNT’s new facility. The move marks the company’s constant efforts to expand its presence in communities with high demand for healthier lifestyles and wellness.
Last month, The Joint opened a clinic in Texarkana, TX, boosting its footprint in the Eastern Texas region, which brought the company to its 900th clinic milestone from September 2022’s 800th clinic mark. JYNT’s growing chiropractic network is expected to enhance visit volumes, boosting its top line. It garners more than 12 million patient visits every year. The Zacks Consensus Estimate for The Joint’s current year revenues indicates 14.5% year-over-year growth.
This year alone, the company intends to open 100-120 new franchised clinics compared with 121 opened last year. Also, new greenfield clinics for 2023 are projected at 8-12 compared with the 2022 level of 16 clinics.
While new greenfield projects are likely to benefit the company in the long run, they are expected to raise costs and trim margins in the short run. Also, the company witnessed lower franchise fees in the last quarter.
The Zacks Consensus Estimate for The Joint’s current year earnings is pegged at 24 cents per share, which declined 20% in the past month. During this time, it has witnessed one downward estimate revision against no movement in the opposite direction.
Price Performance
Shares of JYNT have declined 41.7% in the past year against the 2.3% rise of the industry it belongs to.
The Zacks Consensus Estimate for Select Medical’s 2023 earnings indicates a 56.9% year-over-year increase to $1.93 per share. It has witnessed one upward estimate revision over the past 60 days against no movement in the opposite direction. The consensus mark for SEM’s 2023 revenues indicates 4.2% growth from a year ago.
The Zacks Consensus Estimate for Tenet Healthcare’s 2023 bottom line is pegged at $5.73 per share, which rose 2.3% in the past 60 days. During this time, THC has witnessed four upward estimate revisions against none in the opposite direction. It beat earnings estimates in all the last four quarters, with the average surprise being 25.9%.
The Zacks Consensus Estimate for Atai Life Sciences’ current-year earnings implies a 16.3% improvement from the year-ago reported figure. It has witnessed four upward estimate revisions over the past 60 days against no movement in the opposite direction. ATAI beat earnings estimates in two of the last four quarters, met once and missed on one occasion.
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The Joint (JYNT) Forays Into West Virginia Chiropractic Market
The Joint Corp. (JYNT - Free Report) announced that it has opened its first location in West Virginia, boosting its presence to 42 states. The facility in Morgantown is strategically located and expected to cater to new patients, offering affordable and easily accessible chiropractic care.
The facility is positioned near the West Virginia University campus, at a high-traffic shopping center. This is likely to bring patients from different businesses and demographics to JYNT’s new facility. The move marks the company’s constant efforts to expand its presence in communities with high demand for healthier lifestyles and wellness.
Last month, The Joint opened a clinic in Texarkana, TX, boosting its footprint in the Eastern Texas region, which brought the company to its 900th clinic milestone from September 2022’s 800th clinic mark. JYNT’s growing chiropractic network is expected to enhance visit volumes, boosting its top line. It garners more than 12 million patient visits every year. The Zacks Consensus Estimate for The Joint’s current year revenues indicates 14.5% year-over-year growth.
This year alone, the company intends to open 100-120 new franchised clinics compared with 121 opened last year. Also, new greenfield clinics for 2023 are projected at 8-12 compared with the 2022 level of 16 clinics.
While new greenfield projects are likely to benefit the company in the long run, they are expected to raise costs and trim margins in the short run. Also, the company witnessed lower franchise fees in the last quarter.
The Zacks Consensus Estimate for The Joint’s current year earnings is pegged at 24 cents per share, which declined 20% in the past month. During this time, it has witnessed one downward estimate revision against no movement in the opposite direction.
Price Performance
Shares of JYNT have declined 41.7% in the past year against the 2.3% rise of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
The Joint currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Medical space are Select Medical Holdings Corporation (SEM - Free Report) , Tenet Healthcare Corporation (THC - Free Report) and Atai Life Sciences N.V. (ATAI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Select Medical’s 2023 earnings indicates a 56.9% year-over-year increase to $1.93 per share. It has witnessed one upward estimate revision over the past 60 days against no movement in the opposite direction. The consensus mark for SEM’s 2023 revenues indicates 4.2% growth from a year ago.
The Zacks Consensus Estimate for Tenet Healthcare’s 2023 bottom line is pegged at $5.73 per share, which rose 2.3% in the past 60 days. During this time, THC has witnessed four upward estimate revisions against none in the opposite direction. It beat earnings estimates in all the last four quarters, with the average surprise being 25.9%.
The Zacks Consensus Estimate for Atai Life Sciences’ current-year earnings implies a 16.3% improvement from the year-ago reported figure. It has witnessed four upward estimate revisions over the past 60 days against no movement in the opposite direction. ATAI beat earnings estimates in two of the last four quarters, met once and missed on one occasion.