Panagora Asset Management Inc. Buys New Shares in Encompass Health Co. (NYSE:EHC)

Panagora Asset Management Inc. acquired a new position in Encompass Health Co. (NYSE:EHC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,657 shares of the company’s stock, valued at approximately $400,000.

A number of other large investors have also recently made changes to their positions in EHC. TD Asset Management Inc increased its holdings in Encompass Health by 239.6% in the 4th quarter. TD Asset Management Inc now owns 1,969,186 shares of the company’s stock worth $131,384,000 after acquiring an additional 1,389,275 shares in the last quarter. 8 Knots Management LLC bought a new stake in shares of Encompass Health during the 4th quarter valued at $75,424,000. Norges Bank purchased a new position in shares of Encompass Health during the 4th quarter valued at $69,178,000. Epoch Investment Partners Inc. boosted its holdings in Encompass Health by 102.9% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,399,341 shares of the company’s stock worth $93,364,000 after buying an additional 709,593 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Encompass Health by 614.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 540,519 shares of the company’s stock worth $44,637,000 after buying an additional 464,897 shares in the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

Encompass Health Stock Performance

Shares of NYSE:EHC opened at $93.26 on Wednesday. The firm has a fifty day simple moving average of $88.21 and a two-hundred day simple moving average of $83.77. Encompass Health Co. has a 52 week low of $57.55 and a 52 week high of $94.38. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $9.38 billion, a P/E ratio of 25.21, a PEG ratio of 1.42 and a beta of 0.89.

Encompass Health (NYSE:EHC) last released 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. Encompass Health had a return on equity of 17.83% and a net margin of 7.88%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts expect that Encompass Health Co. will post 4.17 earnings per share 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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.73%. 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 dividend payout ratio is presently 16.22%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EHC. Leerink Partnrs raised Encompass Health to a “strong-buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upped their price target on Encompass Health from $83.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. UBS Group lifted their price objective on shares of Encompass Health from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays dropped their target price on shares of Encompass Health from $113.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, 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. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Encompass Health has a consensus rating of “Buy” and a consensus price target of $100.38.

Insiders Place Their Bets

In other news, CFO Douglas E. Coltharp sold 12,260 shares of the 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 sale, the chief financial officer now owns 136,227 shares of the company’s stock, valued at $11,761,839.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

About Encompass Health

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.