Investors Sell Shares of HealthSouth Corporation (NYSE:HLS) on Strength (NYSE:HLS)
Investors sold shares of HealthSouth Corporation (NYSE:HLS) on strength during trading hours on Friday. $5.92 million flowed into the stock on the tick-up and $46.86 million flowed out of the stock on the tick-down, for a money net flow of $40.94 million out of the stock. Of all companies tracked, HealthSouth Corporation had the 13th highest net out-flow for the day. HealthSouth Corporation traded up $0.23 for the day and closed at $43.82
HLS has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of HealthSouth Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Barclays PLC restated an “underweight” rating and set a $46.00 price objective (up from $44.00) on shares of HealthSouth Corporation in a research report on Monday, May 1st. ValuEngine downgraded shares of HealthSouth Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. KeyCorp initiated coverage on shares of HealthSouth Corporation in a report on Thursday, June 15th. They issued a “sector weight” rating on the stock. Finally, BidaskClub upgraded shares of HealthSouth Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $48.83.
The company has a market cap of $4.33 billion, a P/E ratio of 15.97 and a beta of 0.61. The stock’s 50 day moving average price is $45.71 and its 200 day moving average price is $44.16.
HealthSouth Corporation (NYSE:HLS) last issued its earnings results on Monday, July 31st. The company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $981.30 million during the quarter, compared to analysts’ expectations of $976.46 million. HealthSouth Corporation had a net margin of 6.70% and a return on equity of 25.07%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Analysts predict that HealthSouth Corporation will post $2.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.25 per share. This is a boost from HealthSouth Corporation’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, September 29th. HealthSouth Corporation’s dividend payout ratio (DPR) is presently 35.29%.
In related news, CEO Mark J. Tarr sold 22,625 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.00, for a total transaction of $972,875.00. Following the completion of the sale, the chief executive officer now directly owns 283,134 shares in the company, valued at $12,174,762. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in HLS. American International Group Inc. boosted its stake in HealthSouth Corporation by 3.4% in the first quarter. American International Group Inc. now owns 229,244 shares of the company’s stock valued at $9,814,000 after buying an additional 7,579 shares during the last quarter. Sawgrass Asset Management LLC purchased a new stake in HealthSouth Corporation during the first quarter valued at about $324,000. State of Alaska Department of Revenue purchased a new stake in HealthSouth Corporation during the first quarter valued at about $235,000. Mackay Shields LLC purchased a new stake in HealthSouth Corporation during the second quarter valued at about $39,641,000. Finally, Renaissance Technologies LLC boosted its stake in HealthSouth Corporation by 83.6% in the first quarter. Renaissance Technologies LLC now owns 710,200 shares of the company’s stock valued at $30,404,000 after buying an additional 323,300 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.
About HealthSouth Corporation
HealthSouth Corporation (HealthSouth) is a provider of post-acute healthcare services, offering both facility-based and home-based post-acute services in 35 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. The Company manages its operations through segments, including inpatient rehabilitation, and home health and hospice.
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