2,824 Shares in Encompass Health Co. (NYSE:EHC) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new position in shares of Encompass Health Co. (NYSE:EHC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,824 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in shares of Encompass Health in the fourth quarter valued at $25,000. Parallel Advisors LLC increased its holdings in Encompass Health by 192.3% during the 4th quarter. Parallel Advisors LLC now owns 573 shares of the company’s stock valued at $38,000 after acquiring an additional 377 shares in the last quarter. Oakworth Capital Inc. acquired a new position in Encompass Health during the second quarter worth about $40,000. GAMMA Investing LLC raised its position in Encompass Health by 31.9% during the first quarter. GAMMA Investing LLC now owns 616 shares of the company’s stock worth $51,000 after acquiring an additional 149 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Encompass Health in the second quarter valued at about $60,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Encompass Health Trading Up 0.2 %

Shares of EHC stock opened at $92.82 on Tuesday. The firm’s 50-day simple moving average is $90.19 and its 200-day simple moving average is $85.49. 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 Co. has a 1-year low of $57.55 and a 1-year high of $94.59. The firm has a market cap of $9.35 billion, a P/E ratio of 25.09, a PEG ratio of 1.39 and a beta of 0.88.

Encompass Health (NYSE:EHC) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.11 EPS for the quarter, topping the consensus estimate 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 net margin of 7.88% and a return on equity of 17.83%. Encompass Health’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. As a group, equities analysts forecast that Encompass Health Co. will post 4.18 EPS for the current year.

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

Encompass Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, October 1st. This is an increase from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s payout ratio is 18.38%.

Insiders Place Their Bets

In other news, CFO Douglas E. Coltharp sold 12,260 shares of Encompass Health stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $86.34, for a total value of $1,058,528.40. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EHC has been the subject of several research reports. Leerink Partners started coverage on Encompass Health in a research report on Wednesday, July 10th. They set an “outperform” rating and a $100.00 price objective for the company. UBS Group raised their price target on Encompass Health from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Barclays decreased their price objective on Encompass Health from $113.00 to $109.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial boosted their target price on shares of Encompass Health from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Leerink Partnrs upgraded shares of Encompass Health to a “strong-buy” rating in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $100.38.

Encompass Health Company Profile

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.