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

Raymond James & Associates raised its stake in shares of Encompass Health Co. (NYSE:EHC - Free Report) by 19.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 160,545 shares of the company's stock after purchasing an additional 25,907 shares during the period. Raymond James & Associates owned approximately 0.16% of Encompass Health worth $15,515,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. UMB Bank n.a. increased its stake in Encompass Health by 387.7% in the 3rd quarter. UMB Bank n.a. now owns 317 shares of the company's stock valued at $31,000 after buying an additional 252 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Encompass Health by 53.0% during the third quarter. V Square Quantitative Management LLC now owns 404 shares of the company's stock valued at $39,000 after acquiring an additional 140 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Encompass Health during the second quarter worth $40,000. Benjamin F. Edwards & Company Inc. boosted its position in Encompass Health by 58.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company's stock worth $46,000 after purchasing an additional 198 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Encompass Health during the 2nd quarter valued at $58,000. Institutional investors own 97.25% of the company's stock.

Encompass Health Price Performance

Shares of EHC stock traded down $1.20 on Friday, hitting $93.46. 893,533 shares of the stock traded hands, compared to its average volume of 512,555. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.45 and a beta of 0.88. 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 firm has a 50 day simple moving average of $93.58 and a two-hundred day simple moving average of $88.31. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $98.74.

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

Encompass Health announced that its board has approved a share repurchase plan on Wednesday, July 24th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Encompass Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.17 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.68 annualized dividend and a yield of 0.73%. Encompass Health's dividend payout ratio is currently 17.35%.

Insider Activity

In other news, CFO Douglas E. Coltharp sold 12,260 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $86.34, for a total value of $1,058,528.40. Following the sale, the chief financial officer now directly owns 136,227 shares in the company, valued at approximately $11,761,839.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EHC. Barclays dropped their target price on shares of Encompass Health from $113.00 to $109.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada boosted their target price on Encompass Health from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Leerink Partners began coverage on Encompass Health in a report on Wednesday, July 10th. They issued an "outperform" rating and a $100.00 price objective for the company. UBS Group boosted their price objective on Encompass Health from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Finally, Leerink Partnrs upgraded shares of Encompass Health to a "strong-buy" rating in a research note on Wednesday, July 10th. Eight analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $104.67.

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.