Reinhart Partners buys $32,717,373 stake in HealthSouth Corp (HLS)

HealthSouth Corp (HLS) : Reinhart Partners scooped up 2,853 additional shares in HealthSouth Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 802,093 shares of HealthSouth Corp which is valued at $32,717,373.HealthSouth Corp makes up approximately 3.15% of Reinhart Partners’s portfolio.

Other Hedge Funds, Including , Firstmerit Bank N A Trustee boosted its stake in HLS in the latest quarter, The investment management firm added 5,327 additional shares and now holds a total of 12,735 shares of HealthSouth Corp which is valued at $511,692. HealthSouth Corp makes up approx 0.04% of Firstmerit Bank N A Trustee’s portfolio.

HealthSouth Corp opened for trading at $40.62 and hit $40.79 on the upside on Wednesday, eventually ending the session at $40.65, with a gain of 0.67% or 0.27 points. The heightened volatility saw the trading volume jump to 6,35,574 shares. Company has a market cap of $3,659 M.

On the company’s financial health, HealthSouth Corp reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.55. The company had revenue of $909.80 million for the quarter, compared to analysts expectations of $894.01 million. The company’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Investors should note that on Jul 21, 2016, HealthSouth Corp announced a cash dividend of $0.2400. The company’s management has announced Sep 29, 2016 as the ex-dividend date and fixed the record date on Oct 3, 2016. The payable date has been fixed on Oct 17, 2016.

Many Wall Street Analysts have commented on HealthSouth Corp. Company shares were Reiterated by Mizuho on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 47 from a previous price target of $40 .Company shares were Reiterated by Barclays on Apr 28, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 45 from a previous price target of $39 .

HealthSouth Corporation (HealthSouth) is an owner and operator of inpatient rehabilitation hospitals. The Company’s inpatient rehabilitation hospitals offer rehabilitative care across an array of diagnoses which include physical and cognitive disabilities or injuries due to medical conditions such as strokes hip fractures head injuries spinal cord injuries and a variety of debilitating neurological conditions. HealthSouth operates in around 33 states across the United States and in Puerto Rico and serves patients through its network of inpatient rehabilitation hospitals home health agencies and hospice agencies. The Company’s inpatient rehabilitation hospitals offer rehabilitative care across an array of diagnoses. As of December 31 2014 the Company operated 107 inpatient rehabilitation hospitals. The Company’s inpatient hospitals are concentrated in the eastern half of the United States and Texas.

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