Point72 Asia Singapore Pte. Ltd. Makes New $58,000 Investment in Encompass Health Co. (NYSE:EHC)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Encompass Health Co. (NYSE:EHC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 676 shares of the company’s stock, valued at approximately $58,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Corient Private Wealth LLC grew its position in Encompass Health by 187.2% in the 4th quarter. Corient Private Wealth LLC now owns 17,077 shares of the company’s stock worth $1,139,000 after purchasing an additional 11,130 shares during the last quarter. Franklin Resources Inc. boosted its position in Encompass Health by 18.6% during the 4th quarter. Franklin Resources Inc. now owns 57,265 shares of the company’s stock worth $3,821,000 after acquiring an additional 8,988 shares during the period. Hsbc Holdings PLC grew its stake in shares of Encompass Health by 25.0% in the fourth quarter. Hsbc Holdings PLC now owns 78,319 shares of the company’s stock worth $5,209,000 after purchasing an additional 15,644 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Encompass Health by 192.3% during the fourth quarter. Parallel Advisors LLC now owns 573 shares of the company’s stock valued at $38,000 after purchasing an additional 377 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Encompass Health by 701.7% during the fourth quarter. Allianz Asset Management GmbH now owns 192,350 shares of the company’s stock valued at $12,834,000 after purchasing an additional 168,358 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Encompass Health Stock Performance

EHC stock opened at $96.01 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.08. Encompass Health Co. has a 12 month low of $57.55 and a 12 month high of $97.56. The firm has a 50 day moving average of $91.00 and a two-hundred day moving average of $86.05. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.41 and a beta of 0.88.

Encompass Health (NYSE:EHC) last posted its earnings results on Monday, August 5th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.10. The company had revenue of $1.30 billion for 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 revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. As a group, equities analysts anticipate that Encompass Health Co. will post 4.18 EPS for the current fiscal year.

Encompass Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s dividend payout ratio (DPR) is 18.38%.

Encompass Health announced that its board has initiated a share buyback plan on Wednesday, July 24th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EHC. Royal Bank of Canada raised their price objective on shares of Encompass Health from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday. Leerink Partnrs raised shares of Encompass Health to a “strong-buy” rating in a research report on Wednesday, July 10th. Barclays reduced their price objective on Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Truist Financial increased their price target on shares of Encompass Health from $100.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Leerink Partners initiated coverage on shares of Encompass Health in a report on Wednesday, July 10th. They set an “outperform” rating and a $100.00 price target for the company. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Encompass Health currently has an average rating of “Buy” and a consensus target price of $102.88.

Insider Activity

In related news, CFO Douglas E. Coltharp sold 12,260 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 136,227 shares in the company, valued at approximately $11,761,839.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

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.