Wells Fargo & Company MN lowered its stake in HealthSouth Corporation (NYSE:HLS) by 65.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,118,722 shares of the company’s stock after selling 2,079,644 shares during the period. Wells Fargo & Company MN owned 1.13% of HealthSouth Corporation worth $54,147,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in HealthSouth Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 7,204,375 shares of the company’s stock valued at $308,419,000 after acquiring an additional 318,619 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in HealthSouth Corporation by 13.9% in the second quarter. William Blair Investment Management LLC now owns 4,302,756 shares of the company’s stock valued at $208,253,000 after acquiring an additional 525,767 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in HealthSouth Corporation by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 1,458,636 shares of the company’s stock valued at $70,597,000 after acquiring an additional 23,480 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in HealthSouth Corporation by 10.1% in the second quarter. Principal Financial Group Inc. now owns 1,147,210 shares of the company’s stock valued at $55,524,000 after acquiring an additional 105,681 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in HealthSouth Corporation by 17.4% in the second quarter. Eagle Asset Management Inc. now owns 1,102,063 shares of the company’s stock valued at $53,339,000 after acquiring an additional 163,116 shares in the last quarter. Institutional investors and hedge funds own 93.10% of the company’s stock.
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In other news, CEO Mark J. Tarr sold 22,625 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $42.55, for a total transaction of $962,693.75. Following the transaction, the chief executive officer now owns 283,134 shares in the company, valued at $12,047,351.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
Several analysts recently weighed in on HLS shares. Zacks Investment Research cut shares of HealthSouth Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. ValuEngine cut shares of HealthSouth Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Stephens started coverage on shares of HealthSouth Corporation in a report on Thursday, August 31st. They issued an “overweight” rating and a $53.00 price target on the stock. BidaskClub cut shares of HealthSouth Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, KeyCorp started coverage on shares of HealthSouth Corporation in a report on Thursday, June 15th. They issued a “sector weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.71.
Shares of HealthSouth Corporation (NYSE HLS) opened at 44.94 on Friday. HealthSouth Corporation has a one year low of $36.97 and a one year high of $49.71. The company has a market cap of $4.44 billion, a PE ratio of 15.82 and a beta of 0.59. The stock’s 50 day moving average is $44.19 and its 200-day moving average is $44.89.
HealthSouth Corporation (NYSE:HLS) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $981.30 million for the quarter, compared to analyst estimates of $976.46 million. HealthSouth Corporation had a return on equity of 25.07% and a net margin of 6.70%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. Equities research analysts expect that HealthSouth Corporation will post $2.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.00 annualized dividend and a dividend yield of 2.23%. This is a positive change from HealthSouth Corporation’s previous quarterly dividend of $0.24. HealthSouth Corporation’s dividend payout ratio (DPR) is currently 35.29%.
About HealthSouth Corporation
HealthSouth Corporation (HealthSouth) is a provider of post-acute healthcare services, offering both facility-based and home-based post-acute services in 35 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. The Company manages its operations through segments, including inpatient rehabilitation, and home health and hospice.
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