Encompass Health (NYSE:EHC) Price Target Raised to $110.00

Encompass Health (NYSE:EHC) had its price objective increased by UBS Group from $100.00 to $110.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on EHC. Barclays dropped their price objective on Encompass Health from $113.00 to $109.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Truist Financial raised their price target 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. Stephens reaffirmed an overweight rating and set a $105.00 price objective on shares of Encompass Health in a research note on Tuesday, August 6th. Leerink Partnrs raised Encompass Health to a strong-buy rating in a research note on Wednesday, July 10th. Finally, Leerink Partners assumed coverage on Encompass Health in a research report on Wednesday, July 10th. They set an outperform rating and a $100.00 price target for the company. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $102.88.

Encompass Health Trading Down 1.2 %

Shares of EHC opened at $95.97 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.35 and a current ratio of 1.35. Encompass Health has a fifty-two week low of $57.55 and a fifty-two week high of $97.56. The firm has a 50 day moving average price of $91.00 and a 200-day moving average price of $85.92. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 1.41 and a beta of 0.88.

Encompass Health (NYSE:EHC) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10. Encompass Health had a return on equity of 17.83% and a net margin of 7.88%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Encompass Health will post 4.18 earnings per share for the current year.

Encompass Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.17 per share. 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 dividend yield of 0.71%. Encompass Health’s payout ratio is currently 18.38%.

Encompass Health announced that its Board of Directors has approved a share buyback plan on Wednesday, July 24th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Encompass Health

In related news, CFO Douglas E. Coltharp sold 12,260 shares of Encompass Health 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 completion of the transaction, the chief financial officer now directly owns 136,227 shares of the company’s stock, valued at approximately $11,761,839.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Encompass Health

Institutional investors and hedge funds have recently made changes to their positions in the business. TD Asset Management Inc grew its stake in shares of Encompass Health by 239.6% in the 4th quarter. TD Asset Management Inc now owns 1,969,186 shares of the company’s stock worth $131,384,000 after buying an additional 1,389,275 shares during the last quarter. 8 Knots Management LLC purchased a new stake in shares of Encompass Health in the fourth quarter worth $75,424,000. Magnetar Financial LLC increased its holdings in shares of Encompass Health by 1,176.6% during the second quarter. Magnetar Financial LLC now owns 744,836 shares of the company’s stock valued at $63,899,000 after acquiring an additional 814,018 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Encompass Health by 102.9% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,341 shares of the company’s stock worth $93,364,000 after purchasing an additional 709,593 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Encompass Health by 2,302.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 603,558 shares of the company’s stock worth $51,780,000 after purchasing an additional 578,438 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

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.