BlueMountain Capital Management LLC Reduces Stake in Encompass Health Corp (EHC)
BlueMountain Capital Management LLC trimmed its stake in shares of Encompass Health Corp (AMEX:EHC) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,121 shares of the company’s stock after selling 2,863 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Encompass Health were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Encompass Health during the 2nd quarter worth approximately $107,000. First Mercantile Trust Co. acquired a new stake in shares of Encompass Health during the 1st quarter worth approximately $142,000. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Encompass Health during the 1st quarter worth approximately $142,000. Meeder Asset Management Inc. raised its position in shares of Encompass Health by 97.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,092 shares of the company’s stock worth $142,000 after purchasing an additional 1,030 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Encompass Health during the 1st quarter worth approximately $143,000. Institutional investors and hedge funds own 93.18% of the company’s stock.
Shares of EHC stock opened at $57.67 on Thursday. Encompass Health Corp has a 12-month low of $40.86 and a 12-month high of $59.29. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.34 and a quick ratio of 1.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.87%. This is a positive change from Encompass Health’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, September 28th.
A number of analysts have recently weighed in on EHC shares. Mizuho reiterated a “buy” rating and set a $82.00 price target on shares of Encompass Health in a research report on Thursday, July 26th. SunTrust Banks reissued a “buy” rating and issued a $82.00 price objective on shares of Encompass Health in a report on Friday, July 20th. Zacks Investment Research raised Encompass Health from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, July 27th. Credit Suisse Group increased their price objective on Encompass Health from $66.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Finally, Piper Jaffray Companies raised Encompass Health from a “neutral” rating to an “overweight” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Encompass Health has a consensus rating of “Buy” and a consensus target price of $71.10.
In other Encompass Health news, insider Andrew L. Price sold 9,457 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $80.04, for a total transaction of $756,938.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl B. Levy sold 28,955 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $78.00, for a total value of $2,258,490.00. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
About Encompass Health
Encompass Health Corporation, formerly HealthSouth Corporation, 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.
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