Cinctive Capital Management LP Sells 78,457 Shares of Encompass Health Corporation $EHC

Key Points

• Cinctive Capital Management LP significantly reduced its holdings in Encompass Health Corporation by 84.1%, now owning 14,855 shares valued at approximately $1.51 million.
• Encompass Health recently declared a quarterly dividend of $0.19, an increase from its previous dividend of $0.17, representing a 0.6% yield.
• The company reported a strong quarterly performance with an EPS of $1.40, exceeding estimates and showing a 12% increase in revenue compared to the same quarter last year.

Cinctive Capital Management LP lowered its position in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 84.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,855 shares of the company's stock after selling 78,457 shares during the quarter. Cinctive Capital Management LP's holdings in Encompass Health were worth $1,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlTi Global Inc. bought a new position in shares of Encompass Health in the 1st quarter worth about $1,908,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Encompass Health by 11.5% during the first quarter. Adage Capital Partners GP L.L.C. now owns 205,162 shares of the company's stock valued at $20,779,000 after purchasing an additional 21,100 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in shares of Encompass Health by 611.6% during the first quarter. Dark Forest Capital Management LP now owns 51,981 shares of the company's stock valued at $5,265,000 after purchasing an additional 44,676 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Encompass Health by 10.7% in the 1st quarter. EP Wealth Advisors LLC now owns 3,606 shares of the company's stock worth $365,000 after purchasing an additional 349 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Encompass Health by 21.5% in the 1st quarter. Royal Bank of Canada now owns 88,470 shares of the company's stock worth $8,960,000 after buying an additional 15,677 shares during the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EHC. Wall Street Zen cut Encompass Health from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. KeyCorp lifted their target price on shares of Encompass Health from $122.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Stephens upgraded shares of Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 target price on the stock in a research note on Thursday, June 5th. UBS Group raised their price target on shares of Encompass Health from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Truist Financial boosted their price objective on shares of Encompass Health from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $134.00.

Encompass Health Stock Performance

Shares of Encompass Health stock traded down $0.62 during trading hours on Tuesday, reaching $125.34. 536,625 shares of the stock traded hands, compared to its average volume of 809,000. The company has a 50 day moving average price of $117.00 and a 200 day moving average price of $112.21. Encompass Health Corporation has a one year low of $87.85 and a one year high of $126.49. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.20 and a beta of 0.92.

Encompass Health (NYSE:EHC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. Encompass Health had a net margin of 9.22% and a return on equity of 17.83%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $1.11 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. Encompass Health has set its FY 2025 guidance at 5.120-5.340 EPS. On average, equities research analysts expect that Encompass Health Corporation will post 4.8 earnings per share for the current fiscal year.

Encompass Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.76 dividend on an annualized basis and a yield of 0.6%. This is an increase from Encompass Health's previous quarterly dividend of $0.17. Encompass Health's payout ratio is 13.31%.

Insiders Place Their Bets

In other Encompass Health news, EVP Patrick William Tuer sold 1,020 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $123.59, for a total transaction of $126,061.80. Following the completion of the sale, the executive vice president owned 18,846 shares of the company's stock, valued at approximately $2,329,177.14. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company's stock.

Encompass Health Profile

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.