Surgery Partners price target raised to $23 from $15 at Citi » 06:4908/0708/07/20
Citi analyst Ralph…
Citi analyst Ralph Giacobbe raised the firm's price target on Surgery Partners to $23 from $15 and reiterates a Buy rating on the shares. The analyst views the company's Q2 results as "strong" and continues to see "favorable" structural dynamics of greater volume shift of higher acuity procedures to outpatient.
Encompass Health to build 40-bed rehabilitation hospital in Cape Coral, Florida » 16:5308/0608/06/20
Encompass Health announced it has placed land under contract and plans to build a freestanding, 40-bed inpatient rehabilitation hospital in Cape Coral, Florida, to be named Encompass Health Rehabilitation Hospital of Cape Coral. Complementing local acute care services, the hospital will care for patients recovering from debilitating illnesses and injuries including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. The hospital will provide physical, occupational and speech therapies that aim to restore functional ability and quality of life and 24-hour care by registered nurses, many of whom are certified in rehabilitation nursing.
Surgery Partners reports Q2 EPS (86c), consensus (69c) » 07:0908/0508/05/20
Reports Q2 revenue…
Reports Q2 revenue $374.7M, consensus $342.07M. Eric Evans, Chief Executive Officer of Surgery Partners, stated, "The COVID-19 pandemic has affected operations unlike anything else in recent history. Surgical volumes bottomed out in April but recovered to near 2019 levels by the end of June, a trend that has continued into July and early August scheduling. This recovery is a testament to the efforts of our team members and the value of our short-stay surgical model to the healthcare ecosystem. As patient and provider safety is of the utmost importance, we have been implementing very strict protocols in concert with CDC guidelines so that our facilities can continue to be a safe haven for elective surgeries. Our results for the second quarter validate our efforts to manage expenses responsibly as volumes increased from April to June. Even in the midst of the COVID-19 pandemic, we have been encouraged by our physician recruiting efforts and by the continued transition of surgeries to lower cost settings. We anticipate continued constructive engagement with health systems and health plans, who appreciate the quality, access and value of our model."
Encompass Health places land for rehabilitation hospital in Naples » 08:0908/0408/04/20
Encompass Health announced it has placed land under contract and plans to build a freestanding, 50-bed inpatient rehabilitation hospital in Naples, Florida, to be named Encompass Health Rehabilitation Hospital of Naples. Complementing local acute care services, the hospital will care for patients recovering from debilitating illnesses and injuries including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. The hospital will provide physical, occupational and speech therapies that aim to restore functional ability and quality of life and 24-hour care by registered nurses, many of whom are certified in rehabilitation nursing.
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Amedisys price target raised to $260 from $220 at Deutsche Bank » 07:3707/3007/30/20
Deutsche Bank analyst…
Deutsche Bank analyst Justin Bowers raised the firm's price target on Amedisys to $260 from $220 and keeps a Buy rating on the shares. The analyst increased estimates to reflect lower interest expense given the company's floating rate paper. He sees upside to current numbers in 2021 and beyond through share gains and inorganic initiatives.
Amedisys price target raised to $255 from $210 at Raymond James » 07:3007/3007/30/20
Raymond James analyst…
Raymond James analyst John Ransom raised the firm's price target for Amedisys to $255 from $210 and keeps an Outperform rating on the shares following Q2 results that came in ahead of forecasts. The analyst says home health volumes saw a "V-shaped" recovery and the resilient hospice business saw a shallow dip and quick recovery in admissions.
Amedisys price target raised to $260 from $218 at RBC Capital » 06:2807/3007/30/20
RBC Capital analyst Frank…
RBC Capital analyst Frank Morgan raised the firm's price target on Amedisys to $260 from $218 and keeps an Outperform rating on the shares. The analyst is citing the company's "solid" Q2 earnings beat and cash flows, with "consistent home health volume recovery". Morgan adds that based on the cash flows, the M&A activity at Amedisys could return sooner than expected.
Mednax reports Q2 adjusted EPS 32c, consensus 9c » 06:0507/3007/30/20
Reports Q2 revenue $509M,…
Reports Q2 revenue $509M, consensus $555.92M. "We believe the rapid recovery in our operating results during the latter part of the second quarter demonstrates strong resiliency in demand for the critical, and often acute and life-saving, nature of services provided by clinicians affiliated with MEDNAX," said CFO Stephen Farber. "During the month of April, our revenue from continuing operations reflected approximately 75 to 80% of normalized, pre-COVID 19 patient volumes. During the month of June, volumes recovered to approximately 90 to 95% of normalized levels. This recovery has persisted during the month of July, with some geographic variation, on a preliminary basis."
Amedisys sees FY20 adj. EPS $4.84-$5.06, consensus $4.54 » 16:1007/2807/28/20
Sees FY20 revenue…
Sees FY20 revenue $2.04B-$2.07B, consensus $2.04B.
Amedisys reports Q2 adj. EPS $1.34, consensus 81c » 16:0907/2807/28/20
Reports Q2 revenue…
Reports Q2 revenue $485.06M, consensus $469.13M. Paul Kusserow, president and CEO stated, "I am very proud of our second quarter results which have allowed us to reissue our full year 2020 guidance ranges, but once again, more proud of our employees that delivered these results during such a momentous and unprecedented time in our nation's history. Our front-line heroes continue to provide the highest quality care to our patients, wherever they call home even in the face of this Public Health Emergency. They have adapted to our COVID-19 policies and procedures, utilized PPE to protect both themselves and our patients, quickly implemented telehealth for additional patient touch points and have gone above and beyond to be great partners to our referral sources. The pandemic continues to highlight the importance of caring for people in their homes, wherever they call home, and as such has positioned Amedisys for continued growth in the future. A special thank you to all our essential healthcare workers - you are true heroes and none of this would be possible without you."