Encompass Health Corp Stock Price, News & Analysis

Encompass Health Corp. (NYSE:EHC) has announced significant shareholder-friendly moves. The company's board of directors approved a 13% increase in the quarterly dividend, declaring a cash dividend of $0.17 per share on its common stock. This dividend is payable on Oct. 15, 2024, to shareholders of record as of Oct. 1, 2024.

Additionally, Encompass Health has reset its common stock repurchase authorization to $500 million. This decision comes after the company repurchased approximately $17 million of its common stock during the second quarter of 2024. Prior to this reset, the company had about $181 million remaining under its previous authorization as of June 30, 2024.

Encompass Health (NYSE: EHC) has announced the partial redemption of its 5.75% senior notes due 2025. The company will redeem $150 million of the outstanding principal balance, with the redemption date set for August 15, 2024. The redemption price will be 100.0% of par, plus accrued and unpaid interest. Encompass Health plans to use cash on hand to fund this redemption. As a result of this financial move, the company anticipates recording an approximate $0.4 million loss on early extinguishment of debt in the third quarter of 2024.

Encompass Health (NYSE: EHC) has scheduled its Q2 2024 earnings call. The company will release its financial results for the quarter ending June 30, 2024, after market close on August 5, 2024. An investor conference call will follow on August 6, 2024, at 10 a.m. ET. Participants can join the call by dialing 800-579-2543 with conference ID EHCQ224, or 785-424-1699 for international callers. The call will also be webcast live and available for replay on the company's investor website.

Piedmont and Encompass Health (NYSE: EHC) announced an expansion of their joint venture to include Walton Rehabilitation Hospital in Augusta, Georgia. The 70-bed hospital, located at 1355 Independence Drive, was acquired by Encompass Health in 2013. The existing joint venture includes several other hospitals in Georgia and Alabama, with plans to build more in Athens and Loganville, Georgia. This partnership aims to provide coordinated, patient-centered care, leveraging the strengths of both organizations. Patients will receive intensive therapy, frequent physician visits, and 24-hour nursing care, particularly aiding those recovering from severe conditions such as strokes and brain injuries.

Baptist Health and Encompass Health (NYSE: EHC) have opened the Baptist Health Rehabilitation Hospital, a 40-bed inpatient facility in Louisville, Kentucky. This joint venture aims to provide high-quality rehabilitative care for patients recovering from conditions such as strokes, brain injuries, and complex orthopedic issues. The hospital offers intensive therapy sessions, frequent physician visits, and 24-hour nursing care. Amenities include private rooms, a therapy gym with advanced technologies, and an in-house pharmacy. The new facility marks Baptist Health's first new hospital construction in 33 years.

Encompass Health Corp. (NYSE: EHC) will participate in the 2024 Leerink Partners Healthcare Crossroads Conference in Austin, Texas, from May 28-30, 2024. The company's President and CEO, Mark Tarr, along with EVP and CFO Doug Coltharp, will present during a fireside chat on May 30, 2024, from 8-8:30 a.m. CT. The presentation will be webcast live, and details will be available on their investor relations website.

The Rehabilitation Hospital of Atlanta, a 40-bed inpatient facility, has opened in Georgia as a joint venture between Piedmont and Encompass Health (NYSE: EHC). Located at 1968 Peachtree Road NW, this hospital offers essential rehabilitative services for patients recovering from strokes, brain injuries, spinal cord injuries, amputations, and complex orthopedic conditions. Patients benefit from three hours of intensive therapy five days a week, frequent physician visits, and 24-hour nursing care.

Gina Tipton, CEO, emphasized the hospital's role in helping patients regain function and independence, while Patrick M. Battey, CEO of Piedmont Atlanta, highlighted the convenience of having a rehabilitation facility on-site. The hospital features advanced rehabilitation technologies, 40 private patient rooms, an activities of daily living suite, an in-house pharmacy, and a dayroom area. This is Encompass Health's 162nd inpatient rehabilitation hospital nationwide and its seventh in Georgia.

BJC HealthCare and Encompass Health announced the opening of The Rehabilitation Institute of St. Louis – West County, a 40-bed inpatient rehabilitation hospital in Ballwin, Missouri. The facility will cater to patients recovering from strokes, brain and spinal cord injuries, amputations, and complex orthopedic conditions. Patients will receive intensive therapy for a minimum of three hours a day, five days a week, along with frequent physician visits and 24-hour nursing care. This hospital is part of the existing joint venture between Encompass Health and BJC HealthCare, which includes three other hospitals in the region. The new facility features private rooms, a therapy gym with advanced technologies, an activities of daily living suite, therapy courtyard, in-house pharmacy, and dayroom area. The interdisciplinary team aims to help patients regain their strength and independence.

Encompass Health announces the opening of their 161st inpatient rehabilitation hospital, Encompass Health Rehabilitation Hospital of Kissimmee in Florida. The hospital offers specialized care for patients recovering from various illnesses and injuries, with services including physical, occupational, and speech therapies. With all private patient rooms, advanced rehabilitation technologies, and a dedicated team, the hospital aims to help individuals regain function and quality of life.