Rubric Capital Management LP Takes $8.99 Million Position in Envision Healthcare Co. (EVHC)

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

Several other institutional investors have also recently modified their holdings of EVHC. Exane Derivatives purchased a new stake in Envision Healthcare during the 3rd quarter worth approximately $475,000. Stonebridge Capital Management Inc. grew its position in Envision Healthcare by 87.0% during the 3rd quarter. Stonebridge Capital Management Inc. now owns 30,329 shares of the company’s stock worth $1,364,000 after purchasing an additional 14,111 shares during the last quarter. Honeywell International Inc. grew its position in Envision Healthcare by 17.4% during the 3rd quarter. Honeywell International Inc. now owns 542,100 shares of the company’s stock worth $24,367,000 after purchasing an additional 80,200 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Envision Healthcare by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 632,195 shares of the company’s stock worth $39,620,000 after purchasing an additional 33,587 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Envision Healthcare during the 2nd quarter worth approximately $797,000.

Envision Healthcare Co. (EVHC) traded down $0.08 on Friday, hitting $34.56. 1,471,045 shares of the company traded hands, compared to its average volume of 3,083,461. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.01. Envision Healthcare Co. has a 1 year low of $23.77 and a 1 year high of $73.00. The firm has a market cap of $4,187.60, a PE ratio of -6.91, a P/E/G ratio of 1.16 and a beta of 0.57.

Envision Healthcare (NYSE:EVHC) last posted its earnings results on Tuesday, October 31st. The company reported $0.73 earnings per share (EPS) for the quarter, missing the 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. The business’s revenue for the quarter was up 142.0% on a year-over-year basis. analysts forecast that Envision Healthcare Co. will post 2.49 earnings per share for the current fiscal year.

Envision Healthcare declared that its board has initiated a stock repurchase plan on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several research firms have weighed in on EVHC. Bank of America dropped their target price on shares of Envision Healthcare from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, October 9th. Oppenheimer dropped their target price on shares of Envision Healthcare from $77.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. KeyCorp dropped their target price on shares of Envision Healthcare from $67.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Canaccord Genuity reissued a “buy” rating and set a $32.00 target price (down previously from $68.00) on shares of Envision Healthcare in a research report on Thursday, November 2nd. Finally, Citigroup downgraded shares of Envision Healthcare from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Envision Healthcare has an average rating of “Hold” and a consensus target price of $40.13.

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Envision Healthcare 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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