Adtalem's (ATGE) New Texas Campus To Address Nursing Shortage
Zacks Investment Research | Aug 12, 2019 09:38PM ET
Adtalem Global Education Inc.’s (NYSE:ATGE) health care institution, Chamberlain University, recently opened a new campus in San Antonio, TX, to address the growing demand for nurses in the state. The campus will be the company’s fourth in Texas and 22nd in the United States.
The San Antonio campus will offer a three-year Bachelor of Science in Nursing or BSN degree program, enabling the company to help meet the nursing shortage. According to the Bureau of Labor Statistics, Texas is expected to have a shortage of 15,900 nurses by 2030.
Chamberlain University is well positioned to gain from the growing demand for nurses, and the widening roles they play in the healthcare industry. The company has plans of capitalizing this supply-demand imbalance in nursing and the broader healthcare industry by investing in programs in markets with the maximum demand. The company is optimistic about the demand trend in the medical and healthcare segment from both students and employees.
A Look At Chamberlain’s Performance
Chamberlain University’s revenues were flat year over year in third-quarter fiscal 2019. New student enrollment (online) in the March session declined 3.7% from the prior-year quarter. However, total student count increased 3.4% in the same period on strong growth in both Bachelor of Science in Nursing and graduate programs.
In the fiscal third quarter, new and total student enrollment grew 4% and 3.3%, respectively, from the year-ago period. Medical and Veterinary schools’ revenues climbed 4.1% year over year. Excluding the impact of the shift in starts due to hurricanes Irma and Maria in first-quarter fiscal 2018, revenues grew 8.5% from a year ago. Adjusted operating income was $53.0 million, down 12.8% from the prior-year level.
Adtalem’s Stock Performance
Shares of Adtalem have gained 0.9% so far this year, comparing unfavorably with its Zacks Investment Research
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