HealthSouth Corp. (HLS) Rating Lowered to Hold at Zacks Investment Research
HealthSouth Corp. (NYSE:HLS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
HLS has been the subject of a number of other research reports. Wells Fargo & Co. reissued a “buy” rating on shares of HealthSouth Corp. in a research report on Sunday, September 11th. Royal Bank Of Canada boosted their target price on shares of HealthSouth Corp. from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, October 31st. RBC Capital Markets reissued an “outperform” rating and issued a $48.00 target price (up previously from $46.00) on shares of HealthSouth Corp. in a research report on Monday, October 31st. SunTrust Banks Inc. set a $54.00 target price on shares of HealthSouth Corp. and gave the company a “buy” rating in a research report on Monday, August 1st. Finally, Mizuho cut shares of HealthSouth Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $46.57.
Shares of HealthSouth Corp. (NYSE:HLS) opened at 40.46 on Tuesday. The firm has a 50-day moving average of $40.17 and a 200 day moving average of $40.45. The firm has a market cap of $3.63 billion, a PE ratio of 16.87 and a beta of 0.90. HealthSouth Corp. has a 52-week low of $30.26 and a 52-week high of $43.38.
HealthSouth Corp. (NYSE:HLS) last announced its earnings results on Thursday, October 27th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.05. The company earned $926.80 million during the quarter, compared to analysts’ expectations of $448.60 million. HealthSouth Corp. had a net margin of 6.31% and a return on equity of 29.27%. HealthSouth Corp.’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, equities analysts predict that HealthSouth Corp. will post $2.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, December 29th. HealthSouth Corp.’s payout ratio is 40.17%.
In other HealthSouth Corp. news, CFO Douglas E. Coltharp bought 6,450 shares of the stock in a transaction on Wednesday, November 9th. The stock was purchased at an average price of $39.14 per share, with a total value of $252,453.00. Following the completion of the purchase, the chief financial officer now owns 104,637 shares in the company, valued at $4,095,492.18. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Mark J. Tarr bought 6,371 shares of the stock in a transaction on Wednesday, November 9th. The shares were acquired at an average cost of $39.29 per share, with a total value of $250,316.59. Following the purchase, the chief operating officer now owns 238,890 shares of the company’s stock, valued at approximately $9,385,988.10. The disclosure for this purchase can be found here. Company insiders own 5.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of HealthSouth Corp. by 3.4% in the first quarter. State Street Corp now owns 1,880,351 shares of the company’s stock valued at $70,753,000 after buying an additional 61,337 shares during the last quarter. Columbus Circle Investors purchased a new position in HealthSouth Corp. during the second quarter valued at about $10,355,000. Cumberland Partners Ltd increased its position in HealthSouth Corp. by 178.5% in the second quarter. Cumberland Partners Ltd now owns 559,025 shares of the company’s stock valued at $21,702,000 after buying an additional 358,325 shares in the last quarter. BlackRock Inc. increased its position in HealthSouth Corp. by 95.0% in the first quarter. BlackRock Inc. now owns 7,768 shares of the company’s stock valued at $292,000 after buying an additional 3,785 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in HealthSouth Corp. by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 38,222 shares of the company’s stock valued at $1,438,000 after buying an additional 6,738 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.
HealthSouth Corp. Company Profile
HealthSouth Corporation (HealthSouth) is a provider of post-acute healthcare services, offering both facility-based and home-based post-acute services in over 30 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. The Company’s segments include inpatient rehabilitation, and home health and hospice.
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