OLD National Bancorp IN Buys New Holdings in Encompass Health Co. (NYSE:EHC)

OLD National Bancorp IN bought a new stake in Encompass Health Co. (NYSE:EHC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,000 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Encompass Health by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 10,404,081 shares of the company’s stock valued at $960,817,000 after acquiring an additional 138,196 shares in the last quarter. Invesco Ltd. raised its holdings in Encompass Health by 3.3% in the fourth quarter. Invesco Ltd. now owns 5,536,251 shares of the company’s stock valued at $511,273,000 after acquiring an additional 176,135 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Encompass Health by 6.0% in the fourth quarter. Alliancebernstein L.P. now owns 2,076,869 shares of the company’s stock valued at $191,799,000 after acquiring an additional 117,617 shares in the last quarter. FMR LLC boosted its holdings in Encompass Health by 0.8% in the fourth quarter. FMR LLC now owns 1,973,846 shares of the company’s stock valued at $182,285,000 after purchasing an additional 15,831 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Encompass Health by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,679,774 shares of the company’s stock valued at $155,176,000 after purchasing an additional 6,164 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EHC. UBS Group upped their price target on Encompass Health from $117.00 to $130.00 and gave the company a “buy” rating in a report on Monday, April 28th. Stephens raised Encompass Health from an “overweight” rating to a “strong-buy” rating and set a $135.00 price target for the company in a report on Thursday, June 5th. KeyCorp upped their price target on Encompass Health from $122.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Wall Street Zen downgraded Encompass Health from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $135.00 price target (up from $116.00) on shares of Encompass Health in a report on Monday, April 28th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Encompass Health currently has an average rating of “Buy” and an average price target of $127.00.

Encompass Health Price Performance

EHC stock opened at $119.19 on Wednesday. The company has a market capitalization of $12.01 billion, a P/E ratio of 26.72, a PEG ratio of 2.31 and a beta of 0.89. Encompass Health Co. has a twelve month low of $82.74 and a twelve month high of $123.13. The business has a 50 day simple moving average of $112.67 and a 200-day simple moving average of $103.04. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84.

Encompass Health (NYSE:EHC) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.19 by $0.18. Encompass Health had a return on equity of 17.56% and a net margin of 8.48%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Encompass Health Co. will post 4.8 EPS for the current year.

Encompass Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, July 1st. Encompass Health’s dividend payout ratio (DPR) is presently 14.05%.

Insider Transactions at Encompass Health

In other Encompass Health news, EVP John Patrick Darby sold 10,000 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $114.79, for a total value of $1,147,900.00. Following the completion of the transaction, the executive vice president now owns 79,710 shares in the company, valued at approximately $9,149,910.90. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark J. Tarr sold 118,384 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $121.53, for a total value of $14,387,207.52. Following the completion of the transaction, the chief executive officer now owns 527,070 shares of the company’s stock, valued at $64,054,817.10. The trade was a 18.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,663 shares of company stock worth $16,034,082 over the last 90 days. 2.00% of the stock is currently owned by insiders.

About Encompass Health

Encompass Health Corporation provides post-acute healthcare services in the United States and Puerto Rico. It owns and operates inpatient rehabilitation hospitals that provide medical, nursing, therapy, and ancillary services. The company provides specialized rehabilitative treatment on an inpatient basis to patients who have experienced physical or cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, and various debilitating neurological conditions.