Nutex Health (NASDAQ:NUTX) stock is moving on Monday after the company released a corporate update to investors.
In the update, the healthcare management and operations company goes over its plans for the future. That includes expectations to open 20 new facilities by the close of 2024. For the record, that would roughly double the number of locations it currently operates.
Adding to that, these new facilities will see the company operate in four additional states: Florida, Wisconsin, Ohio and Idaho. Currently, Nutex does business in eight states with its 21 micro-hospitals.
Finally, Nutex Health has created two new independent practice associations (IPAs), one in Houston and the other in South Florida. The company anticipates opening another IPA in Pheonix, Arizona before the year ends.
What Does This Mean for NUTX Stock?
Warren Hosseinion, M.D., President of Nutex Health, had the following to say on the matter in a news release:
“We have conviction in our strategy to drive alignment and integration of our technology-enabled care delivery model and continue to invest in our business. We believe our stock price should reflect these efforts over time.”
For Monday, shares of NUTX stock are seeing heavy trading. This has some 2 million units on the move as of this writing. For the record, the company’s daily average trading volume is closer to 1.3 million shares.
NUTX stock started off up in pre-market trading today. However, shares are currently down 2% as of Monday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.