Encompass Health Corporation $EHC Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC lessened its holdings in shares of Encompass Health Corporation (NYSE:EHC) by 43.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,859 shares of the company’s stock after selling 10,552 shares during the quarter. VELA Investment Management LLC’s holdings in Encompass Health were worth $1,760,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada grew its stake in Encompass Health by 21.5% during the 1st quarter. Royal Bank of Canada now owns 88,470 shares of the company’s stock valued at $8,960,000 after acquiring an additional 15,677 shares in the last quarter. Millennium Management LLC grew its position in shares of Encompass Health by 38.4% in the first quarter. Millennium Management LLC now owns 92,197 shares of the company’s stock valued at $9,338,000 after purchasing an additional 25,574 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Encompass Health in the first quarter valued at approximately $259,000. Exchange Traded Concepts LLC lifted its position in Encompass Health by 1.9% during the second quarter. Exchange Traded Concepts LLC now owns 8,095 shares of the company’s stock worth $993,000 after buying an additional 152 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Encompass Health by 10.9% during the second quarter. UMB Bank n.a. now owns 1,187 shares of the company’s stock worth $146,000 after buying an additional 117 shares during the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zacks Research lowered Encompass Health from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Wall Street Zen raised shares of Encompass Health from a “hold” rating to a “buy” rating in a research note on Sunday. Raymond James Financial raised shares of Encompass Health to a “strong-buy” rating in a research note on Friday, October 31st. Barclays raised their price target on shares of Encompass Health from $141.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, UBS Group increased their price objective on Encompass Health from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Encompass Health has an average rating of “Buy” and a consensus price target of $142.86.

Encompass Health Stock Performance

NYSE:EHC opened at $99.32 on Thursday. Encompass Health Corporation has a fifty-two week low of $92.53 and a fifty-two week high of $127.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50 day moving average price of $108.40 and a 200 day moving average price of $115.88. The stock has a market capitalization of $9.99 billion, a P/E ratio of 18.78, a PEG ratio of 1.59 and a beta of 0.74.

Encompass Health (NYSE:EHC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Encompass Health had a return on equity of 17.84% and a net margin of 9.33%.The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. Equities research analysts forecast that Encompass Health Corporation will post 4.8 EPS for the current year.

Encompass Health Profile

Encompass Health Corporation is a leading provider of post‐acute healthcare services in the United States, operating a comprehensive network of inpatient rehabilitation hospitals and home health and hospice agencies. Its inpatient rehabilitation hospitals offer intensive therapy programs for patients recovering from conditions such as stroke, brain injury, spinal cord injury, cardiac and pulmonary disorders, and orthopedic procedures. Through its home health segment, Encompass Health delivers skilled nursing, physical therapy, occupational therapy and speech therapy to patients in the comfort of their homes, while its hospice services provide end‐of‐life care focused on symptom management and emotional support for patients and families.

Founded in 1984 as HealthSouth Corporation and rebranded as Encompass Health in 2018, the company has grown organically and through acquisitions to serve patients across more than 30 states.