Canaccord Genuity Reaffirms Buy Rating for Envision Healthcare (EVHC)
Canaccord Genuity reiterated their buy rating on shares of Envision Healthcare (NYSE:EVHC) in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $46.00 price target on the stock, up from their prior price target of $32.00.
“We reiterate our BUY rating and raise our PT to $46 based on an improving financial outlook given restructuring and easing utilization headwinds. The company characterized guidance as highly visible and not heroic. As such, we recommend continued exposure as utilization headwinds dissipate and the operational improvement plan takes hold. Key positive: High visibility into 2018 guidance: The low-end of 2018 adj-EBITDA of $960M is 87% in hand when annualizing 4Q’17. M&A from 2017 and 2018 should contribute an incremental $10-$15M and $20-$30M, respectively, bringing visibility up to 92% coverage at the low-end. Organic growth and further expense benefits from operational improvements would be the last leg in getting to guidance. Key negative: Consolidated organic growth rate lowered to 2-5% (was 3-6%) taking into account a softer utilization environment.”,” the firm’s analyst wrote.
A number of other equities analysts also recently commented on EVHC. Cantor Fitzgerald downgraded Envision Healthcare from an overweight rating to a neutral rating and set a $30.00 target price for the company. in a research note on Wednesday, November 1st. Jefferies Group set a $71.00 price target on Envision Healthcare and gave the company a buy rating in a report on Wednesday, November 1st. KeyCorp set a $67.00 price target on Envision Healthcare and gave the company a buy rating in a report on Wednesday, November 1st. Mizuho set a $57.00 price target on Envision Healthcare and gave the company a hold rating in a report on Tuesday, October 31st. Finally, Bank of America cut Envision Healthcare from a buy rating to a neutral rating and set a $32.00 price target on the stock. in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Envision Healthcare presently has an average rating of Hold and a consensus price target of $42.23.
Envision Healthcare (NYSE:EVHC) last issued its earnings results on Tuesday, February 27th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.14. Envision Healthcare had a positive return on equity of 4.64% and a negative net margin of 2.52%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. Envision Healthcare’s quarterly revenue was up 68.0% compared to the same quarter last year. analysts anticipate that Envision Healthcare will post 3.31 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in EVHC. CIBC World Markets Inc. bought a new stake in Envision Healthcare during the fourth quarter worth approximately $208,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Envision Healthcare by 88.2% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,401 shares of the company’s stock worth $221,000 after purchasing an additional 3,000 shares in the last quarter. Palisade Capital Management LLC NJ bought a new stake in Envision Healthcare during the third quarter worth approximately $229,000. CENTRAL TRUST Co raised its holdings in Envision Healthcare by 79.7% during the fourth quarter. CENTRAL TRUST Co now owns 6,626 shares of the company’s stock worth $229,000 after purchasing an additional 2,939 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in Envision Healthcare during the fourth quarter worth approximately $235,000.
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About Envision Healthcare
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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