Envision Healthcare (EVHC) Sees Large Growth in Short Interest

Envision Healthcare (NYSE:EVHC) saw a large increase in short interest during the month of March. As of March 29th, there was short interest totalling 24,458,190 shares, an increase of 12.8% from the March 15th total of 21,681,282 shares. Currently, 20.7% of the company’s shares are short sold. Based on an average daily volume of 2,365,494 shares, the short-interest ratio is presently 10.3 days.

Several institutional investors and hedge funds have recently made changes to their positions in EVHC. Maverick Capital Ltd. boosted its stake in shares of Envision Healthcare by 30.7% during the 4th quarter. Maverick Capital Ltd. now owns 10,002,182 shares of the company’s stock valued at $345,675,000 after purchasing an additional 2,349,648 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Envision Healthcare by 140.4% during the 4th quarter. Guggenheim Capital LLC now owns 1,979,973 shares of the company’s stock valued at $68,429,000 after purchasing an additional 1,156,381 shares in the last quarter. Sapience Investments LLC boosted its stake in shares of Envision Healthcare by 152.0% during the 4th quarter. Sapience Investments LLC now owns 1,127,610 shares of the company’s stock valued at $38,970,000 after purchasing an additional 680,220 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of Envision Healthcare by 512.8% during the 4th quarter. Douglas Lane & Associates LLC now owns 672,252 shares of the company’s stock valued at $23,233,000 after purchasing an additional 562,554 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in shares of Envision Healthcare by 717.8% during the 4th quarter. State of Tennessee Treasury Department now owns 625,398 shares of the company’s stock valued at $21,614,000 after purchasing an additional 548,923 shares in the last quarter.

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Shares of Envision Healthcare stock opened at $38.12 on Wednesday. The firm has a market capitalization of $4,525.01, a price-to-earnings ratio of 15.37, a PEG ratio of 0.86 and a beta of 0.42. Envision Healthcare has a 12-month low of $23.77 and a 12-month high of $64.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.38 and a current ratio of 3.40.

Envision Healthcare (NYSE:EVHC) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.14. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Envision Healthcare had a negative net margin of 2.52% and a positive return on equity of 4.62%. The company’s revenue was up 68.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. research analysts expect that Envision Healthcare will post 3.34 earnings per share for the current fiscal year.

Several equities analysts recently commented on EVHC shares. ValuEngine lowered shares of Envision Healthcare from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. SunTrust Banks set a $40.00 target price on shares of Envision Healthcare and gave the company a “buy” rating in a report on Thursday, December 21st. Cantor Fitzgerald reaffirmed a “hold” rating and set a $37.00 target price on shares of Envision Healthcare in a report on Friday, January 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $50.00 target price (up previously from $45.00) on shares of Envision Healthcare in a report on Wednesday, March 7th. Finally, Jefferies Group set a $41.00 target price on shares of Envision Healthcare and gave the company a “buy” rating in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.57.

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About Envision Healthcare

Envision Healthcare Corporation, through its subsidiaries, provides various healthcare services in the United States. The company operates through two segments, Physician Services and Ambulatory Services. As of December 31, 2017, its physician-led services encompassed providers at approximately 1,800 clinical departments at healthcare facilities in 45 states and the District of Columbia that include emergency department and hospitalist, anesthesiology, radiology/tele-radiology, and children's services.

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