Raymond James & Associates Raises Position in Encompass Health Co. (NYSE:EHC)

Raymond James & Associates raised its holdings in shares of Encompass Health Co. (NYSE:EHC) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,638 shares of the company’s stock after buying an additional 9,701 shares during the quarter. Raymond James & Associates owned about 0.13% of Encompass Health worth $11,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EHC. Oakworth Capital Inc. purchased a new position in shares of Encompass Health during the second quarter worth about $40,000. Baader Bank Aktiengesellschaft purchased a new position in Encompass Health in the 2nd quarter worth approximately $214,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Encompass Health by 13.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,276 shares of the company’s stock worth $624,000 after buying an additional 866 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Encompass Health during the 2nd quarter valued at $2,204,000. Finally, QRG Capital Management Inc. grew its position in Encompass Health by 85.6% in the second quarter. QRG Capital Management Inc. now owns 14,365 shares of the company’s stock worth $1,232,000 after acquiring an additional 6,627 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EHC has been the subject of a number of research reports. Barclays cut their price objective on Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. SVB Leerink began coverage on shares of Encompass Health in a research report on Wednesday, July 10th. They set an “outperform” rating and a $100.00 price target on the stock. Truist Financial boosted their price objective on shares of Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Royal Bank of Canada increased their target price on shares of Encompass Health from $83.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. Finally, Stephens reissued an “overweight” rating and issued a $105.00 price target on shares of Encompass Health in a research note on Tuesday, August 6th. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $100.38.

Insider Transactions at Encompass Health

In related news, CFO Douglas E. Coltharp sold 12,260 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $86.34, for a total transaction of $1,058,528.40. Following the transaction, the chief financial officer now owns 136,227 shares in the company, valued at $11,761,839.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Encompass Health Stock Performance

Shares of NYSE:EHC opened at $91.48 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.14. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 1.45 and a beta of 0.89. Encompass Health Co. has a 12 month low of $57.55 and a 12 month high of $94.38. The company has a 50-day moving average price of $87.23 and a 200-day moving average price of $82.77.

Encompass Health (NYSE:EHC) last released its quarterly earnings data on Monday, August 5th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.10. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Encompass Health had a return on equity of 18.01% and a net margin of 7.60%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. As a group, equities analysts anticipate that Encompass Health Co. will post 4.09 EPS for the current year.

Encompass Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.17 dividend. The ex-dividend date is Tuesday, October 1st. This is a positive change from Encompass Health’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.74%. Encompass Health’s dividend payout ratio is 18.38%.

Encompass Health Company Profile

Encompass Health Corporation provides post-acute healthcare services in the United States and Puerto Rico. It owns and operates inpatient rehabilitation hospitals that provide medical, nursing, therapy, and ancillary services. The company provides specialized rehabilitative treatment on an inpatient basis to patients who have experienced physical or cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, and various debilitating neurological conditions.