Envision Healthcare Corporation (NYSE:EVHC) posted its earnings results on Tuesday. The company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.08), Bloomberg Earnings reports. Envision Healthcare Corporation had a negative net margin of 6.39% and a positive return on equity of 4.86%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. Envision Healthcare Corporation’s revenue for the quarter was up 142.0% compared to the same quarter last year. Envision Healthcare Corporation updated its Q4 guidance to $0.44-$0.54 EPS.
A number of research firms have commented on EVHC. Mizuho reduced their target price on Envision Healthcare Corporation from $65.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Envision Healthcare Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 24th. Citigroup Inc. downgraded Envision Healthcare Corporation from a “buy” rating to a “neutral” rating in a research report on Thursday. BidaskClub downgraded Envision Healthcare Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Finally, Bank of America Corporation reduced their target price on Envision Healthcare Corporation from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Envision Healthcare Corporation has an average rating of “Buy” and a consensus target price of $61.38.
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Envision Healthcare Corporation announced that its Board of Directors has authorized a share buyback plan on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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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