Extendicare Inc. (EXE:CA) is one of the best performing stocks in the health care sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of EXE:CA have climbed 2.13% about halfway through the session to $9.12 after closing the day prior at $8.93. So far, the stock has traded as high as $9.14 and as low as $8.98 in morning action. Today’s advance has come with about 196,792 shares changing hands, compared to an average 30-day volume of 321,702 for Extendicare Inc.. The price is currently below the 30-day volume weighted average price of $9.08 for EXE:CA.
The share appreciation gives the health care company a market capitalization of $789.71 million based upon 88.43 million shares outstanding. It also means that Extendicare Inc. has a price-to-book ratio of 4.91:1 and a price-to-earnings ratio of 3.4:1.
In the past 52 weeks, shares of EXE:CA have traded as low as $7.62 and as high as $9.95. Technical traders will take note that at $9.12, shares of EXE:CA are trading above their 200-day MA at $8.63 and above their 50-day MA at $8.44. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is Extendicare Inc.?
Extendicare Inc along with its subsidiaries provides long-term care operations, home health care operations, and management and consulting services. It also offers information technology solutions to long-term and post-acute health care provider. The company’s 23000 employees are led by CEO Timothy Lukenda from the corporate headquarters at 3000 Steeles Avenue East.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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