Empirical Finance LLC Decreases Holdings in HealthSouth Corporation (HLS)
Empirical Finance LLC reduced its stake in HealthSouth Corporation (NYSE:HLS) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,652 shares of the company’s stock after selling 679 shares during the period. Empirical Finance LLC’s holdings in HealthSouth Corporation were worth $1,242,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Symphony Asset Management LLC boosted its stake in HealthSouth Corporation by 4.4% in the second quarter. Symphony Asset Management LLC now owns 6,228 shares of the company’s stock valued at $301,000 after acquiring an additional 261 shares during the period. Riverhead Capital Management LLC boosted its stake in HealthSouth Corporation by 60.6% in the second quarter. Riverhead Capital Management LLC now owns 5,462 shares of the company’s stock valued at $264,000 after acquiring an additional 2,062 shares during the period. Alliancebernstein L.P. boosted its stake in HealthSouth Corporation by 22.8% in the second quarter. Alliancebernstein L.P. now owns 187,744 shares of the company’s stock valued at $9,087,000 after acquiring an additional 34,890 shares during the period. TimesSquare Capital Management LLC acquired a new position in HealthSouth Corporation in the second quarter valued at approximately $37,868,000. Finally, CIBC World Markets Inc. boosted its stake in HealthSouth Corporation by 7.9% in the second quarter. CIBC World Markets Inc. now owns 52,492 shares of the company’s stock valued at $2,541,000 after acquiring an additional 3,835 shares during the period. Institutional investors own 93.10% of the company’s stock.
A number of equities analysts have commented on HLS shares. Zacks Investment Research downgraded HealthSouth Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. ValuEngine cut HealthSouth Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub cut HealthSouth Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Stephens began coverage on HealthSouth Corporation in a report on Thursday, August 31st. They set an “overweight” rating and a $53.00 price target on the stock. Finally, KeyCorp began coverage on HealthSouth Corporation in a report on Thursday, June 15th. They set a “sector weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.71.
In other news, CEO Mark J. Tarr sold 22,625 shares of the stock in a transaction that occurred on 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 directly owns 283,134 shares of the company’s stock, valued at $12,174,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Shares of HealthSouth Corporation (HLS) traded down 0.35% during midday trading on Tuesday, reaching $45.26. The company had a trading volume of 57,296 shares. The firm’s 50 day moving average price is $44.05 and its 200-day moving average price is $44.85. HealthSouth Corporation has a 12 month low of $36.97 and a 12 month high of $49.71. The company has a market capitalization of $4.47 billion, a P/E ratio of 16.49 and a beta of 0.59.
HealthSouth Corporation (NYSE:HLS) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $981.30 million for the quarter, compared to analysts’ expectations of $976.46 million. HealthSouth Corporation had a net margin of 6.70% and a return on equity of 25.07%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Analysts anticipate that HealthSouth Corporation will post $2.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.20%. This is a boost from HealthSouth Corporation’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, September 29th. HealthSouth Corporation’s dividend payout ratio is currently 35.29%.
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About HealthSouth Corporation
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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