Envision Healthcare Corporation (NYSE:EVHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Envision Healthcare’s second-quarter earnings beat estimates but declined year over year due to a significant rise in operating expenses. Its differentiated leadership position in each its clinical network solutions provides a pathway to growth in approximately 3,200 hospitals and health systems where it has no presence. Substantial acquisition activity expected to continue in 2017 will aid perfoemance in the Physician service segment. Nevertheless, the company suffers from high indebtedness, which has consequently led to an increase in interest ratio. Also, its operating expense is on the rise and is exceeding revenue growth, which has exerted pressure on operating margins. The company’s shares have underperformed the industry, year to date. The company has also trimmed its 2017 earnings guidance twice so far this year which is worrying.”
EVHC has been the topic of several other reports. Canaccord Genuity reissued a “buy” rating and issued a $86.00 target price on shares of Envision Healthcare Corporation in a research report on Tuesday, April 18th. BidaskClub raised shares of Envision Healthcare Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Cantor Fitzgerald reissued a “buy” rating on shares of Envision Healthcare Corporation in a research report on Monday, July 24th. Royal Bank Of Canada raised their target price on shares of Envision Healthcare Corporation from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $71.00 target price (down from $75.00) on shares of Envision Healthcare Corporation in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $71.56.
Envision Healthcare Corporation (NYSE EVHC) traded up 0.23% on Friday, reaching $52.89. 1,356,946 shares of the company’s stock were exchanged. The company’s market capitalization is $6.19 billion. Envision Healthcare Corporation has a 1-year low of $51.44 and a 1-year high of $74.75. The firm has a 50-day moving average price of $59.31 and a 200-day moving average price of $61.09.
Envision Healthcare Corporation (NYSE:EVHC) last released its earnings results on Monday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Envision Healthcare Corporation had a negative net margin of 7.35% and a positive return on equity of 5.35%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 156.7% on a year-over-year basis. Equities research analysts expect that Envision Healthcare Corporation will post $1.40 earnings per share for the current year.
In other Envision Healthcare Corporation news, insider Robert Jon Coward sold 1,500 shares of Envision Healthcare Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the transaction, the insider now directly owns 99,363 shares of the company’s stock, valued at $5,961,780. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its position in Envision Healthcare Corporation by 24.3% in the second quarter. Commonwealth Bank of Australia now owns 2,096 shares of the company’s stock worth $130,000 after buying an additional 410 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Envision Healthcare Corporation during the first quarter worth approximately $135,000. Korea Investment CORP purchased a new position in Envision Healthcare Corporation during the first quarter worth approximately $141,000. Ameritas Investment Partners Inc. purchased a new position in Envision Healthcare Corporation during the first quarter worth approximately $172,000. Finally, First Interstate Bank purchased a new position in Envision Healthcare Corporation during the first quarter worth approximately $184,000. 64.75% of the stock is currently owned by institutional investors and hedge funds.
Envision Healthcare Corporation Company Profile
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.
Receive News & Ratings for Envision Healthcare Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envision Healthcare Corporation and related companies with our FREE daily email newsletter.