Swiss National Bank Reduces Stake in Encompass Health Corporation (NYSE:EHC)

Key Points

• The Swiss National Bank reduced its holdings in Encompass Health Corporation by 1.4%, owning about 0.19% of the company, valued at approximately $19.77 million.
• Insider trading activity revealed that CEO Mark J. Tarr sold 118,384 shares, resulting in an 18.34% decrease in his ownership, while he still holds shares valued at approximately $64 million.
• Analyst ratings on Encompass Health have been generally positive, with several firms raising their price objectives, bringing the consensus price target to $133.17.

Swiss National Bank trimmed its position in Encompass Health Corporation (NYSE:EHC - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,200 shares of the company's stock after selling 2,700 shares during the quarter. Swiss National Bank owned 0.19% of Encompass Health worth $19,770,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Encompass Health by 749.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 416 shares of the company's stock worth $42,000 after buying an additional 367 shares during the period. Ontario Teachers Pension Plan Board raised its position in shares of Encompass Health by 19.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,914 shares of the company's stock worth $2,219,000 after acquiring an additional 3,618 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Encompass Health by 6.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 685,577 shares of the company's stock worth $69,435,000 after acquiring an additional 40,813 shares in the last quarter. Blair William & Co. IL raised its position in shares of Encompass Health by 0.8% in the 1st quarter. Blair William & Co. IL now owns 213,652 shares of the company's stock worth $21,639,000 after acquiring an additional 1,634 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Encompass Health by 2.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 38,278 shares of the company's stock worth $3,877,000 after acquiring an additional 875 shares in the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Encompass Health Price Performance

EHC stock traded up $0.70 during mid-day trading on Friday, reaching $120.35. 604,151 shares of the company's stock were exchanged, compared to its average volume of 943,532. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 2.10 and a beta of 0.86. The stock's 50 day moving average is $116.13 and its 200 day moving average is $109.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.06 and a quick ratio of 1.06. Encompass Health Corporation has a 12-month low of $87.85 and a 12-month high of $123.13.

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

Encompass Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.6%. This is a boost from Encompass Health's previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, October 1st. Encompass Health's dividend payout ratio (DPR) is 14.87%.

Analyst Ratings Changes

EHC has been the subject of several recent research reports. KeyCorp boosted their price target on Encompass Health from $122.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Barclays boosted their price target on Encompass Health from $118.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Truist Financial set a $140.00 target price on Encompass Health and gave the stock a "buy" rating in a research note on Thursday. Stephens upgraded 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. Finally, UBS Group increased their price target on Encompass Health from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $134.00.

Insider Buying and Selling at Encompass Health

In other Encompass Health news, CEO Mark J. Tarr sold 118,384 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $121.53, for a total value of $14,387,207.52. Following the completion of the sale, the chief executive officer directly owned 527,070 shares in the company, valued at $64,054,817.10. This represents a 18.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.