Adage Capital Partners GP L.L.C. Lowers Position in Encompass Health Co. (NYSE:EHC)

Adage Capital Partners GP L.L.C. decreased its stake in shares of Encompass Health Co. (NYSE:EHC) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,062 shares of the company’s stock after selling 22,873 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Encompass Health were worth $16,998,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EHC. T. Rowe Price Investment Management Inc. purchased a new position in Encompass Health during the fourth quarter worth about $152,953,000. Norges Bank bought a new position in shares of Encompass Health in the fourth quarter valued at approximately $100,637,000. Raymond James Financial Inc. purchased a new stake in shares of Encompass Health during the fourth quarter valued at approximately $77,944,000. Jennison Associates LLC bought a new stake in Encompass Health during the fourth quarter worth $52,094,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Encompass Health by 22.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,610,669 shares of the company’s stock worth $148,746,000 after purchasing an additional 300,386 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EHC. Royal Bank of Canada reiterated an “outperform” rating and set a $110.00 target price on shares of Encompass Health in a research note on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Encompass Health in a research note on Friday, February 7th. StockNews.com raised shares of Encompass Health from a “hold” rating to a “buy” rating in a report on Friday. Barclays increased their price objective on Encompass Health from $118.00 to $129.00 and gave the company an “overweight” rating in a report on Friday. Finally, KeyCorp upped their price target on Encompass Health from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Friday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $113.14.

Encompass Health Price Performance

Encompass Health stock opened at $113.33 on Friday. The business has a fifty day moving average price of $100.08 and a 200-day moving average price of $98.54. The firm has a market capitalization of $11.41 billion, a P/E ratio of 25.41, a PEG ratio of 2.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 1.04. Encompass Health Co. has a one year low of $82.38 and a one year high of $114.38.

Encompass Health (NYSE:EHC) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.18. Encompass Health had a return on equity of 17.56% and a net margin of 8.48%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. As a group, equities research analysts forecast that Encompass Health Co. will post 4.8 EPS for the current year.

Encompass Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.60%. Encompass Health’s dividend payout ratio (DPR) is currently 15.25%.

Insider Transactions at Encompass Health

In related news, CAO Andrew L. Price sold 5,042 shares of Encompass Health stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $98.29, for a total transaction of $495,578.18. Following the completion of the sale, the chief accounting officer now owns 69,164 shares of the company’s stock, valued at approximately $6,798,129.56. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

About Encompass Health

Encompass Health Corporation provides post-acute healthcare services in the United States and Puerto Rico. It owns and operates inpatient rehabilitation hospitals that provide medical, nursing, therapy, and ancillary services. The company provides specialized rehabilitative treatment on an inpatient basis to patients who have experienced physical or cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, and various debilitating neurological conditions.