Encompass Health Co. (NYSE:EHC) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its stake in Encompass Health Co. (NYSE:EHC) by 16.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,215 shares of the company’s stock after selling 13,079 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Encompass Health worth $5,509,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Oakworth Capital Inc. acquired a new stake in shares of Encompass Health in the second quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in Encompass Health by 58.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company’s stock valued at $46,000 after buying an additional 198 shares during the period. Parallel Advisors LLC raised its holdings in Encompass Health by 192.3% in the fourth quarter. Parallel Advisors LLC now owns 573 shares of the company’s stock valued at $38,000 after buying an additional 377 shares during the period. GAMMA Investing LLC raised its holdings in Encompass Health by 31.9% in the first quarter. GAMMA Investing LLC now owns 616 shares of the company’s stock valued at $51,000 after buying an additional 149 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Encompass Health in the second quarter valued at approximately $58,000. 97.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on EHC. Leerink Partners began coverage on shares of Encompass Health in a report on Wednesday, July 10th. They issued an “outperform” rating and a $100.00 price target on the stock. Barclays cut their price target on shares of Encompass Health from $113.00 to $109.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. UBS Group lifted their price objective on shares of Encompass Health from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lifted 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, September 26th. Finally, Truist Financial lifted their price objective 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. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $102.88.

Encompass Health Stock Down 0.9 %

Shares of NYSE:EHC opened at $95.74 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.08. The company has a fifty day simple moving average of $91.39 and a 200 day simple moving average of $86.35. The firm has a market cap of $9.64 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.41 and a beta of 0.88. Encompass Health Co. has a 12-month low of $57.55 and a 12-month high of $97.56.

Encompass Health (NYSE:EHC) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The business 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%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. On average, equities research 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. Investors of record on Tuesday, October 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Encompass Health’s previous quarterly dividend of $0.15. Encompass Health’s payout ratio is 18.38%.

Encompass Health declared that its board has approved a share repurchase program on Wednesday, July 24th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Encompass Health news, CFO Douglas E. Coltharp sold 12,260 shares of Encompass Health 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 completion of the transaction, the chief financial officer now owns 136,227 shares of the company’s stock, valued at $11,761,839.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

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.