HealthSouth Corporation (HLS) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of HealthSouth Corporation (NYSE:HLS) from a hold rating to a sell rating in a research report released on Wednesday.
According to Zacks, “HEALTHSOUTH Corp. is the one of the nation’s largest providers of outpatient surgery and rehabilitative healthcare services. The company provides these services through its national network of inpatient and outpatient healthcare facilities, including inpatient and outpatient rehabilitation facilities, outpatient surgery centers, diagnostic centers, occupational medicine centers, medical centers and other healthcare facilities. “
A number of other research analysts have also recently commented on the stock. Piper Jaffray Companies reaffirmed a hold rating and issued a $50.00 target price on shares of HealthSouth Corporation in a research report on Sunday, September 17th. KeyCorp reaffirmed a hold rating on shares of HealthSouth Corporation in a research report on Thursday, September 7th. Royal Bank Of Canada reaffirmed a buy rating and issued a $55.00 target price on shares of HealthSouth Corporation in a research report on Wednesday, September 6th. ValuEngine cut shares of HealthSouth Corporation from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Stephens began coverage on shares of HealthSouth Corporation in a research report on Thursday, August 31st. They issued an overweight rating and a $53.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $49.71.
HealthSouth Corporation (HLS) traded up 0.99% during trading on Wednesday, reaching $46.10. 604,407 shares of the company’s stock traded hands. HealthSouth Corporation has a one year low of $36.97 and a one year high of $49.71. The firm has a market capitalization of $4.55 billion, a PE ratio of 16.80 and a beta of 0.58. The company has a 50-day moving average price of $44.81 and a 200 day moving average price of $45.18.
HealthSouth Corporation (NYSE:HLS) last posted its earnings results on Monday, July 31st. The company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. HealthSouth Corporation had a net margin of 6.70% and a return on equity of 25.07%. The company had revenue of $981.30 million for the quarter, compared to analysts’ expectations of $976.46 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. HealthSouth Corporation’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts anticipate that HealthSouth Corporation will post $2.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, September 29th. This is a boost from HealthSouth Corporation’s previous quarterly dividend of $0.24. HealthSouth Corporation’s dividend payout ratio is currently 36.76%.
In other news, CEO Mark J. Tarr sold 22,625 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.00, for a total transaction of $972,875.00. Following the sale, the chief executive officer now owns 283,134 shares of the company’s stock, valued at $12,174,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of HLS. Wellington Management Group LLP lifted its position in shares of HealthSouth Corporation by 4,377.7% during the first quarter. Wellington Management Group LLP now owns 995,082 shares of the company’s stock worth $42,599,000 after purchasing an additional 972,859 shares in the last quarter. Mackay Shields LLC acquired a new stake in shares of HealthSouth Corporation during the second quarter worth about $39,641,000. TimesSquare Capital Management LLC acquired a new stake in shares of HealthSouth Corporation during the second quarter worth about $37,868,000. William Blair Investment Management LLC lifted its position in shares of HealthSouth Corporation by 13.9% during the second quarter. William Blair Investment Management LLC now owns 4,302,756 shares of the company’s stock worth $208,253,000 after purchasing an additional 525,767 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its position in shares of HealthSouth Corporation by 421.4% during the second quarter. Balyasny Asset Management LLC now owns 618,311 shares of the company’s stock worth $29,926,000 after purchasing an additional 499,715 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.
HealthSouth Corporation Company Profile
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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