Encompass Health Co. (NYSE:EHC) Stake Raised by Algert Global LLC

Algert Global LLC boosted its position in Encompass Health Co. (NYSE:EHC - Free Report) by 203.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,438 shares of the company's stock after purchasing an additional 53,238 shares during the period. Algert Global LLC owned about 0.08% of Encompass Health worth $6,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Encompass Health during the 2nd quarter worth approximately $971,000. Dark Forest Capital Management LP acquired a new stake in shares of Encompass Health during the second quarter valued at $283,000. Deerfield Management Company L.P. Series C purchased a new stake in Encompass Health during the 2nd quarter worth about $541,000. AQR Capital Management LLC lifted its holdings in Encompass Health by 213.3% in the 2nd quarter. AQR Capital Management LLC now owns 207,202 shares of the company's stock valued at $17,776,000 after purchasing an additional 141,075 shares in the last quarter. Finally, AXA S.A. grew its holdings in shares of Encompass Health by 9.4% during the second quarter. AXA S.A. now owns 22,567 shares of the company's stock worth $1,936,000 after buying an additional 1,945 shares in the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EHC has been the topic of a number of recent analyst reports. Leerink Partners started coverage on Encompass Health in a research note on Wednesday, July 10th. They set an "outperform" rating and a $100.00 price target on the stock. Leerink Partnrs upgraded shares of Encompass Health to a "strong-buy" rating in a report on Wednesday, July 10th. Stephens reaffirmed an "overweight" rating and set a $105.00 price target on shares of Encompass Health in a research note on Tuesday, August 6th. Truist Financial increased their target price on Encompass Health from $100.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Finally, Barclays cut their price objective on Encompass Health from $113.00 to $109.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. Nine investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $102.88.

Encompass Health Stock Up 0.7 %

EHC traded up $0.63 during trading on Monday, hitting $96.64. The company had a trading volume of 606,048 shares, compared to its average volume of 641,549. Encompass Health Co. has a 1-year low of $57.55 and a 1-year high of $97.56. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $9.73 billion, a PE ratio of 25.95, a P/E/G ratio of 1.41 and a beta of 0.88. The business has a 50-day moving average of $91.00 and a 200-day moving average of $86.05.

Encompass Health (NYSE:EHC - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.01 by $0.10. Encompass Health had a net margin of 7.88% and a return on equity of 17.83%. The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter last year, the company posted $0.95 earnings per share. The company's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts forecast that Encompass Health Co. will post 4.18 earnings per share for the current year.

Encompass Health Increases Dividend

The firm 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. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, October 1st. This is an increase from Encompass Health's previous quarterly dividend of $0.15. Encompass Health's payout ratio is currently 18.38%.

Encompass Health declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 24th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Encompass Health news, CFO Douglas E. Coltharp sold 12,260 shares of the firm's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $86.34, for a total value of $1,058,528.40. Following the transaction, the chief financial officer now owns 136,227 shares of the company's stock, valued at $11,761,839.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.

About Encompass Health

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.