Canaccord Genuity reaffirmed their hold rating on shares of Envision Healthcare (NYSE:EVHC) in a report released on Wednesday. The firm currently has a $46.00 price target on the stock, up from their prior price target of $32.00.
“We reiterate our BUY rating and raise our PT to $46 based on an improving financial outlook given restructuring and easing utilization headwinds. The company characterized guidance as highly visible and not heroic. As such, we recommend continued exposure as utilization headwinds dissipate and the operational improvement plan takes hold. Key positive: High visibility into 2018 guidance: The low-end of 2018 adj-EBITDA of $960M is 87% in hand when annualizing 4Q’17. M&A from 2017 and 2018 should contribute an incremental $10-$15M and $20-$30M, respectively, bringing visibility up to 92% coverage at the low-end. Organic growth and further expense benefits from operational improvements would be the last leg in getting to guidance. Key negative: Consolidated organic growth rate lowered to 2-5% (was 3-6%) taking into account a softer utilization environment.”,” Canaccord Genuity’s analyst wrote.
Other research analysts have also recently issued reports about the stock. Stephens restated a hold rating and issued a $34.00 price objective on shares of Envision Healthcare in a research report on Wednesday, January 10th. Cantor Fitzgerald upped their price objective on shares of Envision Healthcare from $37.00 to $40.00 and gave the stock a neutral rating in a research report on Wednesday. Robert W. Baird decreased their price objective on shares of Envision Healthcare from $70.00 to $35.00 and set an outperform rating on the stock in a research report on Friday, November 3rd. ValuEngine cut shares of Envision Healthcare from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, KeyCorp set a $40.00 price objective on shares of Envision Healthcare and gave the stock a buy rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $43.63.
Envision Healthcare (NYSE:EVHC) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.14. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Envision Healthcare had a negative net margin of 2.52% and a positive return on equity of 4.64%. Envision Healthcare’s revenue for the quarter was up 68.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. analysts anticipate that Envision Healthcare will post 3.23 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Green Square Capital LLC grew its position in Envision Healthcare by 64.5% during the fourth quarter. Green Square Capital LLC now owns 30,553 shares of the company’s stock valued at $1,056,000 after acquiring an additional 11,982 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Envision Healthcare by 22.0% during the fourth quarter. Xact Kapitalforvaltning AB now owns 17,850 shares of the company’s stock valued at $617,000 after acquiring an additional 3,223 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Envision Healthcare by 21.2% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,191 shares of the company’s stock valued at $2,080,000 after purchasing an additional 10,512 shares during the period. Sawtooth Solutions LLC boosted its stake in shares of Envision Healthcare by 47.8% during the fourth quarter. Sawtooth Solutions LLC now owns 12,525 shares of the company’s stock valued at $433,000 after purchasing an additional 4,053 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Envision Healthcare by 88.2% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,401 shares of the company’s stock valued at $221,000 after purchasing an additional 3,000 shares during the period.
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About Envision Healthcare
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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