Envision Healthcare Corporation (EVHC) Position Reduced by California Public Employees Retirement System
California Public Employees Retirement System cut its stake in Envision Healthcare Corporation (NYSE:EVHC) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,640 shares of the company’s stock after selling 8,200 shares during the period. California Public Employees Retirement System owned 0.21% of Envision Healthcare Corporation worth $15,457,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia grew its stake in Envision Healthcare Corporation by 24.3% during the 2nd 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 during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Envision Healthcare Corporation in the first quarter valued at about $172,000. Nordea Investment Management AB increased its holdings in shares of Envision Healthcare Corporation by 3.7% in the first quarter. Nordea Investment Management AB now owns 3,341 shares of the company’s stock valued at $205,000 after purchasing an additional 120 shares during the period. LMR Partners LLP acquired a new position in shares of Envision Healthcare Corporation in the second quarter valued at about $205,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased 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 during the period. 64.75% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the company. Mizuho decreased their target price on Envision Healthcare Corporation from $65.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. BidaskClub downgraded shares of Envision Healthcare Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Royal Bank Of Canada increased their price target on shares of Envision Healthcare Corporation from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Envision Healthcare Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Jefferies Group LLC set a $71.00 price target on shares of Envision Healthcare Corporation and gave the stock a “buy” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $77.25.
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Envision Healthcare Corporation (EVHC) opened at 44.85 on Wednesday. The firm has a 50-day moving average price of $48.46 and a 200-day moving average price of $55.85. The firm’s market capitalization is $5.25 billion. Envision Healthcare Corporation has a one year low of $42.50 and a one year high of $74.75.
Envision Healthcare Corporation (NYSE:EVHC) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. Envision Healthcare Corporation had a negative net margin of 7.35% and a positive return on equity of 5.35%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business earned $0.34 EPS. Envision Healthcare Corporation’s quarterly revenue was up 156.7% compared to the same quarter last year. Equities analysts anticipate that Envision Healthcare Corporation will post $1.40 earnings per share for the current year.
Envision Healthcare Corporation announced that its Board of Directors has authorized a stock repurchase program on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Envision Healthcare Corporation Profile
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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