Envision Healthcare Target of Unusually High Options Trading (EVHC)
Envision Healthcare Co. (NYSE:EVHC) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 1,543 put options on the stock. This represents an increase of 772% compared to the typical daily volume of 177 put options.
Several brokerages have recently commented on EVHC. BidaskClub downgraded shares of Envision Healthcare from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Jefferies Group set a $71.00 price objective on shares of Envision Healthcare and gave the company a “buy” rating in a research report on Thursday, August 24th. Bank of America decreased their price objective on shares of Envision Healthcare from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, October 9th. Canaccord Genuity restated a “buy” rating and set a $32.00 price objective (down from $68.00) on shares of Envision Healthcare in a research report on Thursday, November 2nd. Finally, Citigroup downgraded shares of Envision Healthcare from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $46.06.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Envision Healthcare by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,471,402 shares of the company’s stock valued at $718,912,000 after acquiring an additional 204,584 shares during the last quarter. BlackRock Inc. increased its holdings in Envision Healthcare by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,345,283 shares of the company’s stock valued at $460,330,000 after acquiring an additional 147,652 shares during the last quarter. Maverick Capital Ltd. increased its holdings in Envision Healthcare by 66.2% in the 2nd quarter. Maverick Capital Ltd. now owns 5,093,292 shares of the company’s stock valued at $319,197,000 after acquiring an additional 2,028,026 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Envision Healthcare by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,958,329 shares of the company’s stock valued at $177,927,000 after acquiring an additional 13,242 shares during the last quarter. Finally, OZ Management LP bought a new stake in Envision Healthcare in the 3rd quarter valued at $131,987,000.
Envision Healthcare (NYSE:EVHC) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.08). The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.03 billion. Envision Healthcare had a negative net margin of 6.39% and a positive return on equity of 4.88%. The business’s revenue was up 142.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. equities research analysts predict that Envision Healthcare will post 2.56 earnings per share for the current year.
Envision Healthcare announced that its Board of Directors has initiated a share repurchase plan on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Envision Healthcare 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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