Envision Healthcare Corporation (NYSE:EVHC) was downgraded by Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a report issued on Wednesday, November 1st, MarketBeat reports. They currently have a $30.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 20.24% from the company’s current price.
The analysts wrote, “3Q17 weak, 2017-18 outlook dims. EVHC’s revenue was in line with our expectations, as was its ambulatory services business, but Physician Services earnings were 5-10% below our estimates, partly because of hurricanes in September, but also disappointing utilization and slower new business development.””
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Envision Healthcare Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Mizuho cut their price objective on Envision Healthcare Corporation from $65.00 to $57.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. BidaskClub downgraded Envision Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Jefferies Group LLC set a $71.00 price objective on Envision Healthcare Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $70.00 target price on shares of Envision Healthcare Corporation in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Envision Healthcare Corporation currently has a consensus rating of “Buy” and an average price target of $49.21.
Envision Healthcare Corporation (NYSE EVHC) traded down $0.78 during midday trading on Wednesday, reaching $24.95. The company had a trading volume of 4,382,200 shares, compared to its average volume of 2,093,783. The company has a quick ratio of 3.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3,016.19, a P/E ratio of 7.70, a PEG ratio of 0.65 and a beta of 0.69. Envision Healthcare Corporation has a fifty-two week low of $24.45 and a fifty-two week high of $74.75.
Envision Healthcare Corporation (NYSE:EVHC) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.08). The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.03 billion. Envision Healthcare Corporation had a negative net margin of 6.39% and a positive return on equity of 4.88%. The business’s revenue for the quarter was up 142.0% on a year-over-year basis. During the same period last year, the company posted $1.13 earnings per share. equities research analysts predict that Envision Healthcare Corporation will post 2.56 EPS for the current year.
Envision Healthcare Corporation declared that its Board of Directors has initiated a share buyback plan on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia lifted its holdings in Envision Healthcare Corporation by 24.3% during the second quarter. Commonwealth Bank of Australia now owns 2,096 shares of the company’s stock valued at $130,000 after purchasing an additional 410 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Envision Healthcare Corporation during the second quarter valued at about $205,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of Envision Healthcare Corporation by 54.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,401 shares of the company’s stock valued at $209,000 after purchasing an additional 1,200 shares in the last quarter. Palisade Capital Management LLC NJ acquired a new position in shares of Envision Healthcare Corporation in the third quarter valued at approximately $229,000. Finally, Cutter & CO Brokerage Inc. lifted its stake in Envision Healthcare Corporation by 11.1% in the second quarter. Cutter & CO Brokerage Inc. now owns 3,668 shares of the company’s stock worth $230,000 after acquiring an additional 367 shares during the last quarter.
About Envision Healthcare Corporation
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.
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