Rubric Capital Management LP Buys New Position in Envision Healthcare Co. (EVHC)

Rubric Capital Management LP bought a new position in shares of Envision Healthcare Co. (NYSE:EVHC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $8,990,000. Rubric Capital Management LP owned 0.17% of Envision Healthcare as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the stock. Exane Derivatives purchased a new position in Envision Healthcare in the third quarter valued at approximately $475,000. Stonebridge Capital Management Inc. increased its stake in Envision Healthcare by 87.0% in the third quarter. Stonebridge Capital Management Inc. now owns 30,329 shares of the company’s stock valued at $1,364,000 after purchasing an additional 14,111 shares during the last quarter. Honeywell International Inc. increased its stake in Envision Healthcare by 17.4% in the third quarter. Honeywell International Inc. now owns 542,100 shares of the company’s stock valued at $24,367,000 after purchasing an additional 80,200 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Envision Healthcare by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 632,195 shares of the company’s stock valued at $39,620,000 after purchasing an additional 33,587 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Envision Healthcare in the second quarter valued at approximately $797,000.

Shares of Envision Healthcare Co. (NYSE EVHC) traded down $0.41 on Friday, hitting $32.96. 2,424,300 shares of the stock were exchanged, compared to its average volume of 2,267,795. The company has a current ratio of 3.01, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4,034.08, a price-to-earnings ratio of 10.30, a PEG ratio of 0.87 and a beta of 0.57. Envision Healthcare Co. has a twelve month low of $23.77 and a twelve month high of $73.00.

Envision Healthcare (NYSE:EVHC) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.08). Envision Healthcare had a positive return on equity of 4.88% and a negative net margin of 6.39%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $1.13 earnings per share. Envision Healthcare’s revenue for the quarter was up 142.0% compared to the same quarter last year. analysts expect that Envision Healthcare Co. will post 2.56 earnings per share for the current fiscal year.

Envision Healthcare announced that its Board of Directors has authorized a stock buyback program on Monday, September 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Several equities analysts have commented on the stock. Citigroup lowered shares of Envision Healthcare from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Thursday, November 2nd. BidaskClub lowered shares of Envision Healthcare from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Bank of America dropped their price target on shares of Envision Healthcare from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, October 9th. Piper Jaffray Companies assumed coverage on shares of Envision Healthcare in a research note on Wednesday. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $32.00 price target (down from $68.00) on shares of Envision Healthcare in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Envision Healthcare presently has a consensus rating of “Buy” and an average price target of $46.06.

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Envision Healthcare Company 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.

Institutional Ownership by Quarter for Envision Healthcare (NYSE:EVHC)

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