Encompass Health Co. (NYSE:EHC) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC trimmed its holdings in Encompass Health Co. (NYSE:EHC - Free Report) by 48.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,837 shares of the company's stock after selling 14,804 shares during the period. Fred Alger Management LLC's holdings in Encompass Health were worth $1,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Encompass Health by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 644,764 shares of the company's stock worth $59,544,000 after purchasing an additional 4,345 shares in the last quarter. Merit Financial Group LLC acquired a new position in Encompass Health during the fourth quarter worth $374,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Encompass Health in the 4th quarter valued at $4,160,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Encompass Health by 87.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 293 shares of the company's stock worth $27,000 after acquiring an additional 137 shares during the period. Finally, US Bancorp DE increased its position in Encompass Health by 9.6% during the fourth quarter. US Bancorp DE now owns 1,380 shares of the company's stock worth $127,000 after purchasing an additional 121 shares during the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Encompass Health from $117.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Barclays raised their price objective on shares of Encompass Health from $118.00 to $129.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Truist Financial reaffirmed a "buy" rating and issued a $135.00 target price (up from $116.00) on shares of Encompass Health in a report on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Encompass Health in a research report on Friday, February 7th. Finally, Royal Bank of Canada boosted their target price on Encompass Health from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, April 28th. 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 company currently has a consensus rating of "Buy" and a consensus target price of $120.86.

Encompass Health Price Performance

EHC stock traded up $1.71 on Wednesday, reaching $119.32. 1,195,426 shares of the company's stock were exchanged, compared to its average volume of 690,348. The stock has a fifty day moving average of $104.14 and a 200-day moving average of $100.28. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The firm has a market cap of $12.03 billion, a PE ratio of 26.75, a P/E/G ratio of 2.31 and a beta of 0.91. Encompass Health Co. has a twelve month low of $82.74 and a twelve month high of $120.60.

Encompass Health (NYSE:EHC - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.18. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. Encompass Health had a net margin of 8.48% and a return on equity of 17.56%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. As a group, equities analysts predict that Encompass Health Co. will post 4.8 EPS for the current fiscal year.

Encompass Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.68 annualized dividend and a yield of 0.57%. Encompass Health's dividend payout ratio (DPR) is currently 14.05%.

Insider Buying and Selling at Encompass Health

In related news, CAO Andrew L. Price sold 5,042 shares of the 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 sale, the chief accounting officer now owns 69,164 shares of the company's stock, valued at $6,798,129.56. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elissa Joy Charbonneau sold 4,279 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $116.61, for a total transaction of $498,974.19. Following the completion of the transaction, the insider now directly owns 11,958 shares of the company's stock, valued at approximately $1,394,422.38. This represents a 26.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,321 shares of company stock valued at $2,142,452 over the last quarter. Corporate insiders own 2.00% of the company's stock.

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.