VELA Investment Management LLC Decreases Stock Position in Encompass Health Corporation $EHC

VELA Investment Management LLC cut its stake in shares of Encompass Health Corporation (NYSE:EHC) by 43.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,859 shares of the company’s stock after selling 10,552 shares during the quarter. VELA Investment Management LLC’s holdings in Encompass Health were worth $1,760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Encompass Health in the 2nd quarter valued at approximately $139,536,000. Congress Asset Management Co. purchased a new position in Encompass Health in the second quarter valued at $92,691,000. 8 Knots Management LLC acquired a new stake in Encompass Health in the second quarter valued at $78,644,000. Marshall Wace LLP purchased a new stake in Encompass Health during the 2nd quarter worth about $34,719,000. Finally, Raymond James Financial Inc. boosted its position in shares of Encompass Health by 31.5% during the 2nd quarter. Raymond James Financial Inc. now owns 1,143,642 shares of the company’s stock worth $140,245,000 after acquiring an additional 274,142 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EHC shares. Raymond James Financial upgraded shares of Encompass Health to a “strong-buy” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b+)” rating on shares of Encompass Health in a research report on Wednesday, October 8th. Wall Street Zen raised Encompass Health from a “hold” rating to a “buy” rating in a report on Sunday. Barclays lifted their target price on Encompass Health from $141.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, UBS Group upped their target price on Encompass Health from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Encompass Health presently has a consensus rating of “Buy” and an average price target of $142.86.

Encompass Health Price Performance

Shares of EHC opened at $99.32 on Thursday. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. Encompass Health Corporation has a fifty-two week low of $92.53 and a fifty-two week high of $127.99. The firm has a 50-day simple moving average of $108.40 and a 200-day simple moving average of $115.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.14.

Encompass Health (NYSE:EHC) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Encompass Health had a return on equity of 17.84% and a net margin of 9.33%.The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that Encompass Health Corporation will post 4.8 earnings per share for the current year.

About Encompass Health

Encompass Health Corporation is a leading provider of post?acute healthcare services in the United States, operating a comprehensive network of inpatient rehabilitation hospitals and home health and hospice agencies. Its inpatient rehabilitation hospitals offer intensive therapy programs for patients recovering from conditions such as stroke, brain injury, spinal cord injury, cardiac and pulmonary disorders, and orthopedic procedures. Through its home health segment, Encompass Health delivers skilled nursing, physical therapy, occupational therapy and speech therapy to patients in the comfort of their homes, while its hospice services provide end?of?life care focused on symptom management and emotional support for patients and families.

Founded in 1984 as HealthSouth Corporation and rebranded as Encompass Health in 2018, the company has grown organically and through acquisitions to serve patients across more than 30 states.