Envision Healthcare (EVHC) Earns “Hold” Rating from Cantor Fitzgerald

Envision Healthcare (NYSE:EVHC)‘s stock had its “hold” rating reiterated by Cantor Fitzgerald in a research note issued on Friday. They currently have a $37.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 4.52% from the stock’s current price.

The analysts wrote, “Increasing 2018 estimates and updating PT. We are increasing our 2018 adjusted EPS estimate to $3.95 from $3.40 to reflect a lower corporate tax rate that adds $0.57 to adjusted EPS, offset by changes in the timing and estimated net proceeds from the AMR divestiture, which is now expected to close in 1Q18. Our adjusted 2018 EBITDA estimate remains $982 million, but our new price target reflects higher free cash flow from the lower taxes, and incremental margin improvements from reduced overhead labor costs.””

Several other brokerages also recently weighed in on EVHC. Robert W. Baird reissued a “buy” rating and issued a $70.00 price target on shares of Envision Healthcare in a report on Tuesday, October 17th. Oppenheimer lowered their price target on Envision Healthcare from $77.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Jefferies Group set a $41.00 price objective on Envision Healthcare and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Bank of America cut Envision Healthcare from a “buy” rating to a “neutral” rating and set a $32.00 price objective for the company. in a research note on Thursday, November 2nd. Finally, ValuEngine cut Envision Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.60.

Shares of Envision Healthcare (NYSE EVHC) traded up $0.40 during trading hours on Friday, hitting $35.40. The company had a trading volume of 2,258,200 shares, compared to its average volume of 2,050,267. The company has a market cap of $4,280.00, a P/E ratio of -23.76, a PEG ratio of 1.00 and a beta of 0.57. The company has a current ratio of 3.01, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89. Envision Healthcare has a 52 week low of $23.77 and a 52 week high of $73.00.

Envision Healthcare (NYSE:EVHC) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.08). The company had revenue of $1.99 billion for 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 company’s revenue was up 142.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 earnings per share. research analysts predict that Envision Healthcare will post 2.49 EPS for the current year.

Envision Healthcare announced that its board has approved a share buyback plan on Monday, September 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Envision Healthcare by 5.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 632,195 shares of the company’s stock valued at $39,620,000 after purchasing an additional 33,587 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Envision Healthcare by 18.4% during the second quarter. Victory Capital Management Inc. now owns 82,321 shares of the company’s stock worth $5,159,000 after buying an additional 12,814 shares in the last quarter. Swiss National Bank increased its holdings in shares of Envision Healthcare by 2.8% during the second quarter. Swiss National Bank now owns 427,716 shares of the company’s stock worth $26,805,000 after buying an additional 11,800 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Envision Healthcare by 42.4% during the second quarter. State of Tennessee Treasury Department now owns 45,630 shares of the company’s stock worth $2,859,000 after buying an additional 13,581 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Envision Healthcare by 76.8% during the second quarter. JPMorgan Chase & Co. now owns 113,879 shares of the company’s stock worth $7,136,000 after buying an additional 49,479 shares in the last quarter.

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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.

Analyst Recommendations for Envision Healthcare (NYSE:EVHC)

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