Encompass Health (NYSE:EHC) Price Target Raised to $108.00

Encompass Health (NYSE:EHC) had its price objective raised by Truist Financial from $104.00 to $108.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on EHC. Leerink Partnrs upgraded shares of Encompass Health to a “strong-buy” rating in a research report on Wednesday, July 10th. Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of Encompass Health in a research note on Tuesday, August 6th. KeyCorp initiated coverage on Encompass Health in a research report on Friday, October 11th. They set an “overweight” rating and a $115.00 price objective for the company. Barclays decreased their target price on Encompass Health from $113.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Leerink Partners started coverage on Encompass Health in a report on Wednesday, July 10th. They set an “outperform” rating and a $100.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $104.67.

Encompass Health Stock Down 0.5 %

Shares of EHC stock opened at $96.90 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.35 and a quick ratio of 1.35. Encompass Health has a one year low of $57.55 and a one year high of $98.74. The company’s fifty day moving average price is $92.62 and its 200-day moving average price is $87.67. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.43 and a beta of 0.88.

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 analysts’ consensus estimates of $1.01 by $0.10. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. Encompass Health had a return on equity of 17.83% and a net margin of 7.88%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. Sell-side analysts expect that Encompass Health will post 4.18 EPS for the current fiscal year.

Encompass Health announced that its board has initiated a stock buyback program on Wednesday, July 24th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Encompass Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 0.70%. This is an increase from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s payout ratio is currently 18.38%.

Insider Buying and Selling

In related news, CFO Douglas E. Coltharp sold 12,260 shares of the 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 sale, the chief financial officer now directly owns 136,227 shares of the company’s stock, valued at $11,761,839.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Encompass Health

Several hedge funds have recently bought and sold shares of EHC. Commonwealth Equity Services LLC increased its stake in shares of Encompass Health by 1.3% during the second quarter. Commonwealth Equity Services LLC now owns 9,845 shares of the company’s stock valued at $845,000 after buying an additional 123 shares during the period. Legacy Wealth Asset Management LLC increased its position in Encompass Health by 1.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 8,619 shares of the company’s stock valued at $712,000 after purchasing an additional 130 shares during the period. Smith Group Asset Management LLC raised its holdings in shares of Encompass Health by 1.2% in the 1st quarter. Smith Group Asset Management LLC now owns 12,070 shares of the company’s stock valued at $997,000 after purchasing an additional 140 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Encompass Health by 53.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 404 shares of the company’s stock worth $39,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Encompass Health by 31.9% during the first quarter. GAMMA Investing LLC now owns 616 shares of the company’s stock valued at $51,000 after purchasing an additional 149 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.