Ontario Teachers Pension Plan Board Buys New Stake in Envision Healthcare Corporation (EVHC)
Ontario Teachers Pension Plan Board bought a new stake in shares of Envision Healthcare Corporation (NYSE:EVHC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 12,282 shares of the company’s stock, valued at approximately $770,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Karp Capital Management Corp bought a new position in Envision Healthcare Corporation in the first quarter worth approximately $632,000. Ameritas Investment Partners Inc. bought a new position in shares of Envision Healthcare Corporation in the 1st quarter worth $172,000. Mason Street Advisors LLC lifted its holdings in shares of Envision Healthcare Corporation by 1.1% in the 1st quarter. Mason Street Advisors LLC now owns 16,232 shares of the company’s stock worth $995,000 after purchasing an additional 183 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Envision Healthcare Corporation by 3.7% in the 1st quarter. Nordea Investment Management AB now owns 3,341 shares of the company’s stock worth $205,000 after purchasing an additional 120 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Envision Healthcare Corporation by 93.7% in the 1st quarter. KBC Group NV now owns 21,372 shares of the company’s stock worth $1,311,000 after purchasing an additional 10,340 shares in the last quarter. Institutional investors own 64.75% of the company’s stock.
Several brokerages have weighed in on EVHC. Cantor Fitzgerald restated a “buy” rating on shares of Envision Healthcare Corporation in a research note on Monday, July 24th. Royal Bank Of Canada increased their target price on shares of Envision Healthcare Corporation from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Envision Healthcare Corporation from a “strong sell” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Envision Healthcare Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Finally, Mizuho reduced their price objective on shares of Envision Healthcare Corporation from $65.00 to $57.00 and set a “neutral” rating for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $77.25.
Envision Healthcare Corporation (EVHC) opened at 44.85 on Wednesday. The stock’s market cap is $5.25 billion. The stock’s 50 day moving average price is $48.46 and its 200-day moving average price is $55.85. Envision Healthcare Corporation has a 12 month low of $42.50 and a 12 month high of $74.75.
Envision Healthcare Corporation (NYSE:EVHC) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Envision Healthcare Corporation had a negative net margin of 7.35% and a positive return on equity of 5.35%. The business’s quarterly revenue was up 156.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. Analysts anticipate that Envision Healthcare Corporation will post $1.40 EPS for the current fiscal year.
Envision Healthcare Corporation announced that its Board of Directors has initiated a share repurchase plan on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is 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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