Bridgewater Associates LP Reduces Stake in Encompass Health Co. (NYSE:EHC)

Bridgewater Associates LP reduced its stake in Encompass Health Co. (NYSE:EHC) by 72.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,140 shares of the company’s stock after selling 41,537 shares during the period. Bridgewater Associates LP’s holdings in Encompass Health were worth $1,560,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Encompass Health by 387.7% during the 3rd quarter. UMB Bank n.a. now owns 317 shares of the company’s stock worth $31,000 after purchasing an additional 252 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Encompass Health by 53.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 404 shares of the company’s stock worth $39,000 after purchasing an additional 140 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Encompass Health during the 3rd quarter worth $40,000. Oakworth Capital Inc. purchased a new position in shares of Encompass Health during the 2nd quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Encompass Health by 58.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 534 shares of the company’s stock worth $46,000 after purchasing an additional 198 shares during the period. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Encompass Health Price Performance

EHC stock opened at $102.94 on Monday. The business has a 50 day moving average price of $98.16 and a 200 day moving average price of $91.42. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.36 and a beta of 0.88. Encompass Health Co. has a fifty-two week low of $63.78 and a fifty-two week high of $104.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

Encompass Health (NYSE:EHC) last posted its earnings results on Monday, October 28th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Encompass Health had a return on equity of 17.60% and a net margin of 8.10%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. Equities research analysts anticipate that Encompass Health Co. will post 4.29 earnings per share for the current fiscal year.

Encompass Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, January 2nd. Encompass Health’s dividend payout ratio is currently 16.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EHC shares. Truist Financial reiterated a “buy” rating and set a $116.00 price target (up from $108.00) on shares of Encompass Health in a report on Wednesday, October 30th. UBS Group increased their price target on Encompass Health from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Stephens restated an “overweight” rating and set a $105.00 target price on shares of Encompass Health in a report on Tuesday, August 6th. Barclays raised their target price on Encompass Health from $109.00 to $116.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their target price on Encompass Health from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $107.11.

Encompass Health Profile

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.