Envision Healthcare Corporation (NYSE:EVHC) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Envision Healthcare Corporation (NYSE:EVHC) from a buy rating to a hold rating in a report published on Friday.

According to Zacks, “Envision Healthcare Corporation is optimistic about the consolidating physician services market. It had an active start to the acquisition strategy for 2017, having completed four acquisitions in Physician Services in Jan 2017 and the buyout of Imaging Advantage LLC, in Apr 2017. The company is in the process of selling its once indispensable medical transportation business American Medical Response (AMR) to focus on physician staffing. The company, however, suffers from high indebtedness. It has about 4.3 times EBITDA, which is above the 3 to 4 times EBITDA that the company feels comfortable at. Also, its operating expense is on the rise and exceeding revenue growth. The company’s shares have underperformed the Zacks categorized Medical Outpatient and Home Healthcare industry, year to date.”

A number of other research analysts have also commented on EVHC. Cantor Fitzgerald restated a buy rating and set a $80.00 price target on shares of Envision Healthcare Corporation in a research report on Tuesday, July 4th. Jefferies Group LLC restated a buy rating and set a $71.00 price target (down from $75.00) on shares of Envision Healthcare Corporation in a research report on Wednesday, May 3rd. Royal Bank of Canada restated a buy rating and set a $72.00 price target on shares of Envision Healthcare Corporation in a research report on Wednesday, May 3rd. Canaccord Genuity restated a buy rating and set a $86.00 price target on shares of Envision Healthcare Corporation in a research report on Tuesday, April 18th. Finally, TheStreet lowered shares of Envision Healthcare Corporation from a b- rating to a c+ rating in a research report on Thursday, March 9th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $71.89.

Shares of Envision Healthcare Corporation (NYSE:EVHC) traded down 1.39% during midday trading on Friday, reaching $60.79. The company had a trading volume of 426,567 shares. The company has a 50 day moving average price of $57.27 and a 200-day moving average price of $62.64. Envision Healthcare Corporation has a one year low of $53.12 and a one year high of $81.34. The firm’s market capitalization is $7.06 billion.

Envision Healthcare Corporation (NYSE:EVHC) last issued its earnings results on Tuesday, May 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. Envision Healthcare Corporation had a negative net margin of 9.16% and a positive return on equity of 5.75%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $2.52 billion. On average, analysts anticipate that Envision Healthcare Corporation will post $1.40 EPS for the current fiscal year.

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In other Envision Healthcare Corporation news, insider Robert Jon Coward sold 1,500 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the sale, the insider now directly owns 99,363 shares of the company’s stock, valued at $5,961,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,500 shares of company stock valued at $274,830 over the last three months. 3.10% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Envision Healthcare Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,266,818 shares of the company’s stock valued at $690,881,000 after buying an additional 433,593 shares during the period. Wellington Management Group LLP increased its position in shares of Envision Healthcare Corporation by 1.2% in the first quarter. Wellington Management Group LLP now owns 9,512,290 shares of the company’s stock valued at $583,294,000 after buying an additional 108,389 shares during the period. BlackRock Inc. increased its position in shares of Envision Healthcare Corporation by 3,895.0% in the first quarter. BlackRock Inc. now owns 7,197,631 shares of the company’s stock valued at $441,359,000 after buying an additional 7,017,467 shares during the period. State Street Corp increased its position in shares of Envision Healthcare Corporation by 4.1% in the first quarter. State Street Corp now owns 4,862,721 shares of the company’s stock valued at $298,178,000 after buying an additional 193,547 shares during the period. Finally, Janus Capital Management LLC increased its position in shares of Envision Healthcare Corporation by 63.7% in the first quarter. Janus Capital Management LLC now owns 2,712,066 shares of the company’s stock valued at $167,536,000 after buying an additional 1,055,014 shares during the period. 67.47% of the stock is owned by hedge funds and other institutional investors.

About Envision Healthcare Corporation

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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Analyst Recommendations for Envision Healthcare Corporation (NYSE:EVHC)

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