Regis Healthcare Shares Hit New 52-week High as Jarden Research Says Proposed Aged Care Overhaul 'Favorable' for Industry

MT Newswires Live

Sep 13, 2024

Regis Healthcare (ASX:REG) shares hit a new 52-week high on Friday after Jarden Research said in a note on Thursday that the Australian Federal Government's proposed overhaul of aged care benefits is expected to be "favorable" for the aged care industry.

Under the proposed changes, aged care providers will be able to retain 2% per annum of the face value of a resident's refundable accommodation deposits across a maximum of five years. They will be able to refund the remainder after the resident's departure from the facility.

The investment firm said the full financial benefit will take around two and a half years from July 1, 2025, to come to fruition.

Jarden Research maintained its overweight rating and AU$4.46 price target on the stock.

Regis Healthcare shares traded more than 8% higher in recent Friday trade.

Price (AUD): $5.85, Change: $+0.44, Percent Change: +8.13%

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