Envision Healthcare Corporation (EVHC) Hits New 52-Week Low Following Analyst Downgrade

Envision Healthcare Corporation (NYSE:EVHC) shares hit a new 52-week low during trading on Thursday after Mizuho lowered their price target on the stock from $65.00 to $57.00. Mizuho currently has a neutral rating on the stock. Envision Healthcare Corporation traded as low as $52.00 and last traded at $51.83, with a volume of 1,787,525 shares. The stock had previously closed at $54.35.

Several other research analysts also recently commented on EVHC. BidaskClub downgraded Envision Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $72.00 price target on shares of Envision Healthcare Corporation in a report on Monday, June 5th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Envision Healthcare Corporation in a report on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $71.00 price target (down previously from $75.00) on shares of Envision Healthcare Corporation in a report on Wednesday, May 3rd. Finally, Zacks Investment Research cut Envision Healthcare Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Envision Healthcare Corporation currently has an average rating of “Buy” and a consensus price target of $71.56.

In related news, insider Robert Jon Coward sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.69, for a total transaction of $94,035.00. Following the transaction, the insider now directly owns 97,863 shares of the company’s stock, valued at approximately $6,135,031.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in EVHC. Commonwealth Bank of Australia boosted its position in shares of Envision Healthcare Corporation by 24.3% in the second quarter. Commonwealth Bank of Australia now owns 2,096 shares of the company’s stock worth $130,000 after buying an additional 410 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Envision Healthcare Corporation during the first quarter worth approximately $135,000. Korea Investment CORP bought a new position in shares of Envision Healthcare Corporation during the first quarter worth approximately $141,000. Ameritas Investment Partners Inc. bought a new position in shares of Envision Healthcare Corporation during the first quarter worth approximately $172,000. Finally, First Interstate Bank bought a new position in shares of Envision Healthcare Corporation during the first quarter worth approximately $184,000. 64.75% of the stock is currently owned by institutional investors and hedge funds.

The company’s market cap is $6.04 billion. The company has a 50-day moving average price of $59.68 and a 200 day moving average price of $61.26.

Envision Healthcare Corporation (NYSE:EVHC) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. Envision Healthcare Corporation had a positive return on equity of 5.35% and a negative net margin of 7.35%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 156.7% on a year-over-year basis. Equities analysts predict that Envision Healthcare Corporation will post $1.40 earnings per share for the current fiscal year.

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About Envision Healthcare Corporation

Envision Healthcare Holdings, Inc, formerly CDRT Holding Corporation, is a holding company. The Company, through its subsidiary, provides physician-led medical services in the United States. It operates in two segments: EmCare Holdings, Inc (EmCare) and American Medical Response, Inc (AMR). Its EmCare segment is a provider of integrated facility-based and post-acute care physician services to healthcare facilities in the United States.

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