HealthSouth Corp. (HLS) Short Interest Update
HealthSouth Corp. (NYSE:HLS) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 8,175,721 shares, a growth of 55.3% from the September 15th total of 5,262,886 shares. Approximately 9.4% of the shares of the company are sold short. Based on an average daily volume of 584,796 shares, the days-to-cover ratio is currently 14.0 days.
In other news, COO Mark J. Tarr sold 20,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.85, for a total value of $837,000.00. Following the transaction, the chief operating officer now directly owns 252,519 shares of the company’s stock, valued at $10,567,920.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in HealthSouth Corp. by 3.4% in the first quarter. State Street Corp now owns 1,880,351 shares of the company’s stock valued at $70,753,000 after buying an additional 61,337 shares during the period. BlackRock Inc. increased its stake in HealthSouth Corp. by 95.0% in the first quarter. BlackRock Inc. now owns 7,768 shares of the company’s stock valued at $292,000 after buying an additional 3,785 shares during the period. Cumberland Partners Ltd increased its stake in HealthSouth Corp. by 178.5% in the second quarter. Cumberland Partners Ltd now owns 559,025 shares of the company’s stock valued at $21,702,000 after buying an additional 358,325 shares during the period. Envestnet Asset Management Inc. increased its stake in HealthSouth Corp. by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 38,222 shares of the company’s stock valued at $1,438,000 after buying an additional 6,738 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in HealthSouth Corp. during the first quarter valued at approximately $259,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.
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A number of research firms recently commented on HLS. Zacks Investment Research lowered shares of HealthSouth Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. SunTrust Banks Inc. set a $54.00 price target on shares of HealthSouth Corp. and gave the stock a “buy” rating in a research report on Monday, August 1st. JMP Securities reaffirmed a “buy” rating on shares of HealthSouth Corp. in a research report on Sunday, September 4th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of HealthSouth Corp. in a research report on Sunday, September 11th. Finally, Barclays PLC lowered shares of HealthSouth Corp. from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $45.00 to $42.00 in a research report on Monday, June 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. HealthSouth Corp. has a consensus rating of “Buy” and a consensus price target of $46.00.
Shares of HealthSouth Corp. (NYSE:HLS) opened at 39.86 on Tuesday. The stock has a 50 day moving average of $40.64 and a 200-day moving average of $40.06. The firm has a market capitalization of $3.58 billion, a P/E ratio of 17.50 and a beta of 1.02. HealthSouth Corp. has a 1-year low of $30.26 and a 1-year high of $43.38.
HealthSouth Corp. (NYSE:HLS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.09. The company had revenue of $920.70 million for the quarter, compared to the consensus estimate of $906.67 million. HealthSouth Corp. had a net margin of 6.26% and a return on equity of 28.99%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, equities analysts expect that HealthSouth Corp. will post $2.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Monday, October 3rd were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, September 29th. This is an increase from HealthSouth Corp.’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.41%. HealthSouth Corp.’s dividend payout ratio is 42.29%.
About HealthSouth Corp.
HealthSouth Corporation (HealthSouth) is a provider of post-acute healthcare services, offering both facility-based and home-based post-acute services in over 30 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. The Company’s segments include inpatient rehabilitation, and home health and hospice.
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