The Joint (JYNT) Reaches 900th Clinic Mark With New Texas Unit
The Joint Corp. JYNT recently opened a clinic in Texarkana, TX, boosting its footprint in the Eastern Texas region. The new clinic marks its second in the region and brings the company to its 900th clinic milestone.
Only a little more than 2% of franchise systems have reached such a mark, the company said. The achievement came at a remarkable speed. JYNT reached the 800th clinic milestone only last September. This growing chiropractic network will likely enhance visit volumes, boosting its top line. It is present in 850 locations in the country.
The Joint garners more than 12 million patient visits every year across 41 states. Its focus on expanding its footprint in communities with high demand for healthier lifestyles and wellness will further increase the metric. In 2023 alone, JYNT intends to open 100-120 new franchised clinics compared with 121 opened in 2022.
New greenfield clinics for this year are projected at 8-12 compared with the 2022 level of 16 clinics. While new greenfield projects are expected to raise costs and trim margins in the short run, they are likely to increase JYNT’s bottom line in the long run.
The Zacks Consensus Estimate for earnings for the current year is pegged at 30 cents per share, indicating a surge of 275% year over year. The estimate remained stable over the past month. Moreover, the consensus mark for revenues for this year is pegged at $121.6 million, indicating a 19.3% year-over-year jump.
Price Performance
Shares of JYNT have declined 4.2% in the year-to-date period compared with the 5.5% fall of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
The Joint currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the medical space are Select Medical Holdings Corporation SEM, Encompass Health Corporation EHC and HCA Healthcare, Inc. HCA, each carrying a Zacks Rank #2 (Buy). 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 month against no movement in the opposite direction. SEM beat earnings estimates in one of the last four quarters, met once and missed in the remaining occasions.
The Zacks Consensus Estimate for Encompass Health’s 2023 earnings indicates a 17.9% jump from the year-ago reported figure. It has witnessed five upward estimate revisions over the past month against no movement in the opposite direction. EHC beat earnings estimates in three of the last four quarters and missed once, with the average surprise being 14%.
The Zacks Consensus Estimate for HCA Healthcare’s 2023 bottom line suggests an 8.6% increase from the prior-year levels. HCA has witnessed six upward estimate revisions in the past 30 days against none in the opposite direction. It beat earnings estimates in three of the last four quarters and missed once, with the average surprise being 5.4%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report
Select Medical Holdings Corporation (SEM) : Free Stock Analysis Report
The Joint Corp. (JYNT) : Free Stock Analysis Report
Encompass Health Corporation (EHC) : Free Stock Analysis Report
