Envision Healthcare Corporation (EVHC) Upgraded to Hold at Zacks Investment Research
Envision Healthcare Corporation (NYSE:EVHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Envision Healthcare’s second-quarter earnings beat estimates but declined year over year due to a significant rise in operating expenses. Its differentiated leadership position in each its clinical network solutions provides a pathway to growth in approximately 3,200 hospitals and health systems where it has no presence. Substantial acquisition activity expected to continue in 2017 will aid perfoemance in the Physician service segment. Nevertheless, the company suffers from high indebtedness, which has consequently led to an increase in interest ratio. Also, its operating expense is on the rise and is exceeding revenue growth, which has exerted pressure on operating margins. The company’s shares have underperformed the industry, year to date. The company has also trimmed its 2017 earnings guidance twice so far this year which is worrying.”
A number of other equities analysts have also recently weighed in on EVHC. Mizuho reduced their price target on Envision Healthcare Corporation from $65.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday. BidaskClub lowered Envision Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $72.00 price objective on shares of Envision Healthcare Corporation in a research note on Monday, June 5th. Cantor Fitzgerald reiterated a “buy” rating on shares of Envision Healthcare Corporation in a research note on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $71.00 price objective (down from $75.00) on shares of Envision Healthcare Corporation in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Envision Healthcare Corporation presently has a consensus rating of “Buy” and a consensus price target of $71.56.
Shares of Envision Healthcare Corporation (NYSE EVHC) traded down 0.36% during midday trading on Friday, reaching $52.58. The company had a trading volume of 749,196 shares. The company’s 50-day moving average is $59.52 and its 200-day moving average is $61.20. The stock’s market capitalization is $6.16 billion. Envision Healthcare Corporation has a 1-year low of $51.44 and a 1-year high of $74.75.
Envision Healthcare Corporation (NYSE:EVHC) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Envision Healthcare Corporation had a positive return on equity of 5.35% and a negative net margin of 7.35%. The company’s revenue for the quarter was up 156.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities research analysts forecast that Envision Healthcare Corporation will post $1.40 EPS for the current year.
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In related news, insider Robert Jon Coward sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $62.69, for a total value of $94,035.00. Following the transaction, the insider now directly owns 97,863 shares in the company, valued at $6,135,031.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC boosted its position in Envision Healthcare Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 7,086 shares of the company’s stock worth $444,000 after buying an additional 18 shares in the last quarter. ING Groep NV boosted its position in Envision Healthcare Corporation by 0.3% in the second quarter. ING Groep NV now owns 6,022 shares of the company’s stock worth $377,000 after buying an additional 21 shares in the last quarter. CIBC Asset Management Inc boosted its position in Envision Healthcare Corporation by 0.4% in the second quarter. CIBC Asset Management Inc now owns 10,078 shares of the company’s stock worth $632,000 after buying an additional 38 shares in the last quarter. Sawtooth Solutions LLC boosted its position in Envision Healthcare Corporation by 0.7% in the second quarter. Sawtooth Solutions LLC now owns 6,656 shares of the company’s stock worth $417,000 after buying an additional 43 shares in the last quarter. Finally, Boys Arnold & Co. Inc. boosted its position in Envision Healthcare Corporation by 0.6% in the second quarter. Boys Arnold & Co. Inc. now owns 8,125 shares of the company’s stock worth $509,000 after buying an additional 50 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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