Zacks Investment Research upgraded shares of Envision Healthcare (NYSE:EVHC) from a strong sell rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Envision Healthcare's stock has outperformed the industry in last one month. The company has taken some discrete actions which are expected to improve its operating performance and realize $50 million of incremental adjusted EBITDA in 2018. It is optimistic about the physician services market, which is witnessing consolidation. Also the divestiture of its AMR business will help the company to focus on its core operations. The company is aggressively shifting its payor contract to in-network from out of network which will lead to greater client and patient satisfaction, competitive differentiation, administrative efficiency, enhanced collections and an accelerated cash flow. But, it suffers from high indebtedness, consequently leading to an increase in the interest ratio. Also, its operating expense is on the rise and is exceeding the revenue growth to have exerted pressure on the operating margins.”
EVHC has been the topic of a number of other research reports. Citigroup lowered Envision Healthcare from a buy rating to a neutral rating and set a $31.00 target price on the stock. in a research report on Thursday, November 2nd. Bank of America cut their target price on Envision Healthcare from $72.00 to $60.00 and set a buy rating on the stock in a research report on Monday, October 9th. Piper Jaffray Companies assumed coverage on Envision Healthcare in a research report on Wednesday, December 13th. They issued a neutral rating and a $35.00 target price on the stock. KeyCorp cut their target price on Envision Healthcare from $67.00 to $37.00 and set an overweight rating on the stock in a research report on Thursday, November 2nd. Finally, Canaccord Genuity reissued a buy rating and issued a $32.00 target price (down previously from $68.00) on shares of Envision Healthcare in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Envision Healthcare presently has an average rating of Hold and an average price target of $40.13.
Envision Healthcare (NYSE EVHC) traded up $0.40 during mid-day trading on Tuesday, hitting $35.40. 2,258,200 shares of the stock traded hands, compared to its average volume of 2,050,267. The stock has a market cap of $4,280.00, a price-to-earnings ratio of -23.76, a PEG ratio of 1.00 and a beta of 0.57. The company has a current ratio of 3.01, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89. Envision Healthcare has a 1 year low of $23.77 and a 1 year high of $73.00.
Envision Healthcare (NYSE:EVHC) last announced its earnings results on Tuesday, October 31st. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.08). The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Envision Healthcare had a negative net margin of 6.39% and a positive return on equity of 4.88%. The firm’s revenue for the quarter was up 142.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 EPS. sell-side analysts forecast that Envision Healthcare will post 2.49 EPS for the current fiscal year.
Envision Healthcare declared that its board has approved a stock buyback program on Monday, September 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several large investors have recently bought and sold shares of EVHC. Commonwealth Bank of Australia grew its stake in shares of Envision Healthcare by 24.3% during the second quarter. Commonwealth Bank of Australia now owns 2,096 shares of the company’s stock worth $130,000 after purchasing an additional 410 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of Envision Healthcare by 18.7% during the second quarter. Flinton Capital Management LLC now owns 4,464 shares of the company’s stock worth $280,000 after purchasing an additional 704 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Envision Healthcare by 30.0% during the second quarter. D.A. Davidson & CO. now owns 4,589 shares of the company’s stock worth $287,000 after purchasing an additional 1,059 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Envision Healthcare by 1.5% during the second quarter. PNC Financial Services Group Inc. now owns 4,848 shares of the company’s stock worth $304,000 after purchasing an additional 70 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Envision Healthcare by 5.0% during the second quarter. Profund Advisors LLC now owns 5,102 shares of the company’s stock worth $320,000 after purchasing an additional 241 shares in the last quarter.
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About Envision Healthcare
Envision Healthcare Holdings, Inc, formerly CDRT Holding Corporation, is a holding company. The Company, through its subsidiary, provides physician-led medical services in the United States. It operates in two segments: EmCare Holdings, Inc (EmCare) and American Medical Response, Inc (AMR). Its EmCare segment is a provider of integrated facility-based and post-acute care physician services to healthcare facilities in the United States.
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