Point72 Asset Management L.P. Buys 835,135 Shares of Encompass Health Co. (NYSE:EHC)

Point72 Asset Management L.P. increased its position in shares of Encompass Health Co. (NYSE:EHC) by 2,458.5% in the third quarter, HoldingsChannel reports. The firm owned 869,104 shares of the company’s stock after purchasing an additional 835,135 shares during the period. Point72 Asset Management L.P.’s holdings in Encompass Health were worth $83,990,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in Encompass Health during the 3rd quarter worth approximately $68,000. IHT Wealth Management LLC bought a new stake in shares of Encompass Health during the third quarter worth $233,000. Cinctive Capital Management LP increased its stake in shares of Encompass Health by 33.5% in the third quarter. Cinctive Capital Management LP now owns 38,381 shares of the company’s stock valued at $3,709,000 after buying an additional 9,626 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Encompass Health by 37.2% in the third quarter. Benjamin Edwards Inc. now owns 6,298 shares of the company’s stock worth $609,000 after acquiring an additional 1,707 shares during the last quarter. Finally, Atom Investors LP grew its stake in shares of Encompass Health by 460.5% during the third quarter. Atom Investors LP now owns 40,829 shares of the company’s stock valued at $3,946,000 after purchasing an additional 33,544 shares during the last quarter. 97.25% of the stock is owned by institutional investors.

Encompass Health Stock Performance

Shares of Encompass Health stock opened at $102.48 on Wednesday. Encompass Health Co. has a 12 month low of $64.15 and a 12 month high of $104.55. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $10.32 billion, a PE ratio of 24.75, a PEG ratio of 1.35 and a beta of 0.86. The stock’s fifty day simple moving average is $98.35 and its 200 day simple moving average is $91.57.

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

Encompass Health Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on EHC shares. Truist Financial reaffirmed a “buy” rating and set a $116.00 price objective (up previously from $108.00) on shares of Encompass Health in a report on Wednesday, October 30th. KeyCorp lifted their price target on shares of Encompass Health from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. UBS Group increased their price objective on shares of Encompass Health from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Stephens reaffirmed an “overweight” rating and set a $105.00 target price on shares of Encompass Health in a report on Tuesday, August 6th. Finally, Barclays increased their price target on Encompass Health from $109.00 to $116.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.