HealthSouth Corporation (NYSE:HLS) Stake Cut by Cumberland Partners Ltd

Cornelia Mascio
Agosto 13, 2017

Bank of Montreal Can lowered its position in HealthSouth Corporation (NYSE:HLS) by 18.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,700 shares of the company's stock at the end of the second quarter. HealthSouth Corporation makes up about 5.6% of Cumberland Partners Ltd's holdings, making the stock its largest position.

Several other hedge funds also recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its position in shares of HealthSouth Corporation by 40.1% in the first quarter. William Blair Investment Management LLC now owns 4,302,756 shares of the company's stock worth $208,253,000 after buying an additional 525,767 shares during the period. Renaissance Technologies LLC boosted its position in shares of HealthSouth Corporation by 83.6% in the first quarter. Elkfork Partners LLC now owns 5,376 shares of the company's stock worth $230,000 after buying an additional 1,540 shares during the last quarter. Its stake was worth $20,829,000 an increase of $1,251,000 as of quarter end. American International Group Inc. boosted its stake in shares of HealthSouth Corporation by 3.4% in the first quarter. Vanguard Group Inc. now owns 7,204,375 shares of the company's stock valued at $308,419,000 after buying an additional 318,619 shares during the last quarter. Finally, NGAM Advisors L.P. increased its stake in shares of HealthSouth Corporation by 1.4% in the second quarter. Principal Financial Group Inc. now owns 1,147,210 shares of the company's stock worth $55,524,000 after buying an additional 105,681 shares during the period. Institutional investors own 97.96% of the company's stock. The firm has a market capitalization of $4.33 billion, a P/E ratio of 15.97 and a beta of 0.61. HealthSouth Corporation has a 52-week low of $36.97 and a 52-week high of $49.71.

HealthSouth Corporation (NYSE:HLS) last issued its earnings results on Monday, July 31st. As of the latest earnings report the EPS was $2.74 and is expected to be $2.71 for the current year with 98,734,000 shares now outstanding. The value of the company's investment in HealthSouth Corporation went from $5,530,000 to $6,102,000 increasing 10.3% quarter to quarter. The firm had revenue of $981.30 million for the quarter, compared to the consensus estimate of $976.46 million. During the same quarter in the previous year, the firm earned $0.69 EPS. HealthSouth Corporation's quarterly revenue was up 6.6% on a year-over-year basis. During the same period a year ago, the business posted $0.69 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. The dividend will be $0.250 per share for the quarter which is $1.00 annualized. Sentinel Asset Management has invested 0.28% in HealthSouth Corp (NYSE:HLS). The ex-dividend date is Friday, September 29th. This dividend amount will represent a yeild of $2.29.

HealthSouth Corporation is a well-known provider of post-acute healthcare services, offering both facility and home post-acute services in 35 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies.

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A number of research analysts have commented on HLS shares. ValuEngine upgraded HealthSouth Corporation from a "hold" rating to a "buy" rating in a report on Friday, July 7th. BidaskClub upgraded HealthSouth Corporation from a "sell" rating to a "hold" rating in a report on Saturday, June 17th. Barclays PLC reissued an "underweight" rating and issued a $46.00 price target (up from $44.00) on shares of HealthSouth Corporation in a research report on Monday, May 1st. Piper Jaffray Companies restated a "hold" rating and issued a $50.00 target price on shares of HealthSouth Corporation in a report on Thursday, August 3rd. Deere & Company had 79 analyst reports since July 27, 2015 according to SRatingsIntel. The stock has an average rating of "Hold" and an average price target of $48.83. The stock now has an average rating of Hold and a consensus target price of $48.83. Following the sale, the chief executive officer now directly owns 283,134 shares of the company's stock, valued at $12,174,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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