Paradice Investment Management LLC boosted its stake in shares of Encompass Health Co. (NYSE:EHC – Get Rating) by 25.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 837,107 shares of the company's stock after purchasing an additional 170,703 shares during the period. Encompass Health comprises approximately 3.6% of Paradice Investment Management LLC's investment portfolio, making the stock its 10th biggest holding. Paradice Investment Management LLC's holdings in Encompass Health were worth $46,920,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Leeward Investments LLC MA grew its position in Encompass Health by 68.1% during the second quarter. Leeward Investments LLC MA now owns 392,444 shares of the company's stock valued at $21,996,000 after buying an additional 159,030 shares during the period. FNY Investment Advisers LLC bought a new position in Encompass Health during the second quarter worth about $2,317,000. Wedge Capital Management L L P NC boosted its position in Encompass Health by 7.7% during the second quarter. Wedge Capital Management L L P NC now owns 706,572 shares of the company's stock worth $39,603,000 after purchasing an additional 50,689 shares during the period. Brookstone Capital Management boosted its position in Encompass Health by 19.3% during the second quarter. Brookstone Capital Management now owns 11,245 shares of the company's stock worth $544,000 after purchasing an additional 1,821 shares during the period. Finally, Bank of America Corp DE boosted its position in Encompass Health by 1.5% during the first quarter. Bank of America Corp DE now owns 251,111 shares of the company's stock worth $17,856,000 after purchasing an additional 3,660 shares during the period. Institutional investors own 93.07% of the company's stock.
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Wall Street Analyst Weigh In
EHC has been the subject of a number of research reports. Raymond James cut their target price on shares of Encompass Health from $70.00 to $65.00 and set a "strong-buy" rating for the company in a research report on Thursday, August 4th. BMO Capital Markets cut their target price on shares of Encompass Health from $83.00 to $65.00 and set an "outperform" rating for the company in a research report on Thursday, August 4th. Barclays cut their target price on shares of Encompass Health from $80.00 to $63.00 and set an "overweight" rating for the company in a research report on Thursday, August 4th. StockNews.com lowered shares of Encompass Health from a "buy" rating to a "hold" rating in a research report on Wednesday, August 3rd. Finally, Credit Suisse Group cut their price objective on shares of Encompass Health from $63.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, September 21st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Encompass Health presently has a consensus rating of "Buy" and a consensus target price of $66.89.
Encompass Health Price Performance
Shares of EHC stock traded down $0.30 during trading hours on Tuesday, reaching $46.66. The stock had a trading volume of 4,014 shares, compared to its average volume of 686,129. The stock's fifty day simple moving average is $50.71 and its 200 day simple moving average is $58.76. The firm has a market capitalization of $4.66 billion, a PE ratio of 14.36, a PEG ratio of 2.26 and a beta of 1.02. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.29. Encompass Health Co. has a 12 month low of $44.33 and a 12 month high of $77.74.
Encompass Health (NYSE:EHC – Get Rating) last announced its earnings results on Monday, August 1st. The company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.08). The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.34 billion. Encompass Health had a net margin of 6.22% and a return on equity of 16.20%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. On average, equities research analysts predict that Encompass Health Co. will post 2.88 EPS for the current year.
Encompass Health Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, September 30th. Encompass Health's dividend payout ratio is currently 34.25%.
Insider Activity at Encompass Health
In related news, CEO Mark J. Tarr sold 20,449 shares of the firm's stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $53.25, for a total value of $1,088,909.25. Following the sale, the chief executive officer now directly owns 440,895 shares of the company's stock, valued at $23,477,658.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.
About Encompass Health
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Encompass Health Corporation provides facility-based and home-based post-acute healthcare services in the United States. The company operates in two segments, Inpatient Rehabilitation, and Home Health and Hospice. The Inpatient Rehabilitation segment provides specialized rehabilitative treatment on an inpatient and outpatient basis to patients who are recovering from conditions, such as stroke and other neurological disorders, cardiac and pulmonary conditions, brain and spinal cord injuries, complex orthopedic conditions, and amputations.
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