Massachusetts Financial Services Co. MA Trims Stock Position in Encompass Health Corporation (NYSE:EHC)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 67.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 366,554 shares of the company's stock after selling 743,967 shares during the period. Massachusetts Financial Services Co. MA owned 0.36% of Encompass Health worth $37,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Encompass Health in the 4th quarter worth $152,953,000. Norges Bank acquired a new position in Encompass Health during the fourth quarter worth $100,637,000. Farallon Capital Management LLC grew its holdings in shares of Encompass Health by 15,266.7% during the fourth quarter. Farallon Capital Management LLC now owns 461,000 shares of the company's stock worth $42,573,000 after buying an additional 458,000 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Encompass Health by 136.8% during the fourth quarter. AQR Capital Management LLC now owns 689,206 shares of the company's stock worth $63,648,000 after buying an additional 398,154 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $148,746,000 after purchasing an additional 300,386 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Encompass Health news, EVP John Patrick Darby sold 10,000 shares of Encompass Health stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $114.79, for a total value of $1,147,900.00. Following the sale, the executive vice president directly owned 79,710 shares in the company, valued at approximately $9,149,910.90. The trade was a 11.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark J. Tarr sold 118,384 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $121.53, for a total transaction of $14,387,207.52. Following the completion of the transaction, the chief executive officer owned 527,070 shares in the company, valued at approximately $64,054,817.10. This trade represents a 18.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,663 shares of company stock valued at $16,034,082 over the last quarter. Corporate insiders own 2.10% of the company's stock.

Encompass Health Stock Performance

Shares of EHC traded down $0.30 during trading hours on Friday, reaching $110.06. 616,437 shares of the company's stock traded hands, compared to its average volume of 733,313. The business's fifty day simple moving average is $119.05 and its two-hundred day simple moving average is $107.02. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 2.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06. Encompass Health Corporation has a twelve month low of $82.74 and a twelve month high of $123.13.

Encompass Health (NYSE:EHC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.18. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Encompass Health had a net margin of 8.97% and a return on equity of 17.63%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share. Analysts predict that Encompass Health Corporation will post 4.8 earnings per share for the current year.

Encompass Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Tuesday, July 1st. Encompass Health's dividend payout ratio is currently 14.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EHC. Wall Street Zen cut shares of Encompass Health from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial reissued a "buy" rating and set a $135.00 price objective (up previously from $116.00) on shares of Encompass Health in a report on Monday, April 28th. 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 report on Thursday, June 5th. Barclays raised their target price on shares of Encompass Health from $118.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, KeyCorp lifted their price objective on shares of Encompass Health from $122.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $131.50.

Encompass Health Company 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.