Envision Healthcare (EVHC) Receives “Hold” Rating from Cantor Fitzgerald
Cantor Fitzgerald reiterated their hold rating on shares of Envision Healthcare (NYSE:EVHC) in a report issued on Friday morning. Cantor Fitzgerald currently has a $37.00 price objective on the stock.
“Increasing 2018 estimates and updating PT. We are increasing our 2018 adjusted EPS estimate to $3.95 from $3.40 to reflect a lower corporate tax rate that adds $0.57 to adjusted EPS, offset by changes in the timing and estimated net proceeds from the AMR divestiture, which is now expected to close in 1Q18. Our adjusted 2018 EBITDA estimate remains $982 million, but our new price target reflects higher free cash flow from the lower taxes, and incremental margin improvements from reduced overhead labor costs.”,” Cantor Fitzgerald’s analyst commented.
A number of other brokerages have also recently issued reports on EVHC. Robert W. Baird reaffirmed a buy rating and set a $70.00 price objective on shares of Envision Healthcare in a research note on Tuesday, October 17th. Oppenheimer reduced their price objective on Envision Healthcare from $77.00 to $40.00 and set an outperform rating on the stock in a research note on Thursday, November 2nd. Jefferies Group set a $41.00 price objective on Envision Healthcare and gave the company a buy rating in a research note on Tuesday, December 19th. Bank of America cut Envision Healthcare from a buy rating to a neutral rating and set a $32.00 price objective on the stock. in a research note on Thursday, November 2nd. Finally, ValuEngine cut Envision Healthcare from a buy rating to a hold rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Envision Healthcare currently has a consensus rating of Hold and a consensus price target of $40.60.
Envision Healthcare (NYSE:EVHC) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.08). Envision Healthcare had a negative net margin of 6.39% and a positive return on equity of 4.88%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s revenue for the quarter was up 142.0% on a year-over-year basis. equities research analysts forecast that Envision Healthcare will post 2.49 EPS for the current fiscal year.
Envision Healthcare announced that its board has initiated a stock buyback program on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of EVHC. Commonwealth Bank of Australia boosted its position in Envision Healthcare 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 acquiring an additional 410 shares in the last quarter. Palisade Capital Management LLC NJ bought a new stake in Envision Healthcare during the 3rd quarter valued at approximately $229,000. Flinton Capital Management LLC boosted its position in Envision Healthcare by 18.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,464 shares of the company’s stock valued at $280,000 after acquiring an additional 704 shares in the last quarter. D.A. Davidson & CO. boosted its position in Envision Healthcare by 30.0% during the 2nd quarter. D.A. Davidson & CO. now owns 4,589 shares of the company’s stock valued at $287,000 after acquiring an additional 1,059 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Envision Healthcare by 1.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,848 shares of the company’s stock valued at $304,000 after acquiring an additional 70 shares in the last quarter.
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.
Receive News & Ratings for Envision Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envision Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.