Envision Healthcare Corporation (EVHC) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Envision Healthcare Corporation (NYSE:EVHC) announced its quarterly earnings data on Monday. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04, Morningstar.com reports. Envision Healthcare Corporation had a positive return on equity of 5.75% and a negative net margin of 9.16%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 156.7% on a year-over-year basis. Envision Healthcare Corporation updated its Q3 guidance to $0.87-0.83 EPS and its FY17 guidance to $3.35-3.45 EPS.
Shares of Envision Healthcare Corporation (EVHC) traded up 4.81% during mid-day trading on Tuesday, hitting $57.70. The stock had a trading volume of 627,515 shares. The stock’s 50-day moving average is $60.18 and its 200 day moving average is $61.73. The company’s market cap is $6.70 billion. Envision Healthcare Corporation has a 12 month low of $53.12 and a 12 month high of $74.75.
EVHC has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating and issued a $86.00 price objective on shares of Envision Healthcare Corporation in a report on Tuesday, April 18th. Jefferies Group LLC set a $75.00 target price on Envision Healthcare Corporation and gave the company a “buy” rating in a report on Friday, April 21st. Zacks Investment Research raised Envision Healthcare Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $72.00 target price on shares of Envision Healthcare Corporation in a report on Wednesday, May 3rd. Finally, Mizuho reduced their target price on Envision Healthcare Corporation from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.89.
In related news, insider Robert Jon Coward sold 1,500 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.69, for a total transaction of $94,035.00. Following the completion of the sale, the insider now owns 97,863 shares in the company, valued at $6,135,031.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new stake in Envision Healthcare Corporation during the first quarter valued at about $373,000. Nisa Investment Advisors LLC boosted its stake in Envision Healthcare Corporation by 14,372.5% in the first quarter. Nisa Investment Advisors LLC now owns 28,945 shares of the company’s stock valued at $1,775,000 after buying an additional 28,745 shares in the last quarter. First United Bank Trust boosted its stake in Envision Healthcare Corporation by 31.2% in the first quarter. First United Bank Trust now owns 9,660 shares of the company’s stock valued at $592,000 after buying an additional 2,295 shares in the last quarter. National Investment Services Inc. WI acquired a new stake in Envision Healthcare Corporation during the first quarter valued at about $1,881,000. Finally, Atria Investments LLC boosted its stake in Envision Healthcare Corporation by 31.3% in the first quarter. Atria Investments LLC now owns 5,380 shares of the company’s stock valued at $330,000 after buying an additional 1,282 shares in the last quarter. Hedge funds and other institutional investors own 64.75% of the company’s stock.
Envision Healthcare Corporation Company Profile
Envision Healthcare Holdings, Inc, formerly CDRT Holding Corporation, is a holding company. The Company, through its subsidiary, provides physician-led medical services in the United States. It operates in two segments: EmCare Holdings, Inc (EmCare) and American Medical Response, Inc (AMR). Its EmCare segment is a provider of integrated facility-based and post-acute care physician services to healthcare facilities in the United States.
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