Cantor Fitzgerald Gives a Hold Rating to Envision Healthcare

By Jason Carr

Cantor Fitzgerald analyst Joseph France assigned a Hold rating to Envision Healthcare (NYSE: EVHC) today and set a price target of $30. The company’s shares opened today at $28.52, close to its 52-week low of $23.77.

France observed:

“Early today, Bloomberg reported that EVHC has attracted buyout interest from private equity firms, including Carlyle Group and Onex Corp., which may bid for EVHC alone or as part of a group. Shares rose as much as 14% during the day and closed up 10.3%.”

According to TipRanks.com, France is a 4-star analyst with an average return of 8.4% and a 56.0% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and WellCare Health Plans.

Currently, the analyst consensus on Envision Healthcare is Moderate Buy and the average price target is $45.31, representing a 58.9% upside.

In a report issued on November 2, Merrill Lynch also downgraded the stock to Hold with a $32 price target.

Based on Envision Healthcare’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.99 billion and quarterly net profit of $28.3 million. In comparison, last year the company earned revenue of $822 million and had a net profit of $39.95 million.

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Envision Healthcare Corp. specializes in healthcare services. It provides a range of services including physician-led services, ambulatory surgery services, postacute care and medical transportation. It operates through the following segments: Physician Services, Medical Transportation, and Ambulatory Services.