We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Encompass Health (EHC), Piedmont to Build Loganville Facility
Read MoreHide Full Article
Encompass Health Corporation (EHC - Free Report) recently teamed up with the Georgia-based integrated health system, Piedmont Healthcare, to build a freestanding, inpatient rehabilitation hospital in the state. The facility, located in Loganville, will be equipped with 40 beds and the partners have been conferred with a certificate of need for the hospital construction. The company’s shares lost 1.2% on Mar 8, replicating declines in broader markets.
Once the Loganville hospital becomes operational, Piedmont will relocate its existing 20-bed rehabilitation facility in Piedmont Eastside Medical Center to the new one.
The planned hospital will be armed with advanced rehabilitation technologies and provide physical, occupational and speech therapy. It will also have a well-versed nursing team to provide enhanced rehabilitative care to patients recovering from debilitating illnesses and injuries and empower them to resume daily life activities.
Built with the collective capabilities of partners, the Loganville facility is expected to better serve a growing patient base and bring improved health outcomes for residents of the East Atlanta region and beyond. Encompass Health seems prudent to choose Piedmont as its partner for strengthening its presence in Georgia as the integrated healthcare leader boasts a longstanding history of catering to the needs of Georgia residents for more than a century.
The recent move can also be termed as an expansion of the partnership between Encompass Health and Piedmont. Previously, the partners have often come together to operate joint venture hospitals across Georgia. The Rehabilitation Hospital of Columbus inaugurated in September 2023 remains one such example. Meanwhile, construction is underway for the inpatient rehabilitation facility in Atlanta, which will be built as a hospital-in-hospital inside the Piedmont Atlanta Hospital and is likely to commence operations in spring 2024. There are also plans for constructing a 40-bed inpatient rehabilitation unit across Athens, which is likely to open in 2025.
Encompass Health seems to be on a spree to unveil facility expansion plans and subsequently, make the same operational within a reasonable period. To complement these initiatives, EHC often takes the help of renowned healthcare organizations or pursues significant investments.
The resultant increase in the inpatient rehabilitation hospital count is likely to drive revenues of EHC, which rose 10.4% year over year in 2023. The present count of inpatient rehabilitation hospitals is 160 for Encompass Health and is spread across 37 states and Puerto Rico.
Shares of Encompass Health have risen 44.8% in the past year compared with the industry’s 27.1% growth. EHC currently carries a Zacks Rank #3 (Hold).
Collegium Pharmaceutical’s earnings surpassed estimates in three of the last four quarters and met the mark once, the average surprise being 7.54%. The Zacks Consensus Estimate for COLL’s 2024 earnings indicates a rise of 15%, while the same for revenues implies an improvement of 2.8% from the respective prior-year numbers. The consensus mark for COLL’s 2024 earnings has moved 2.9% north in the past 30 days.
The bottom line of GoodRx outpaced estimates in two of the trailing four quarters and matched the mark twice, the average beat being 8.34%. The Zacks Consensus Estimate for GDRX’s 2024 earnings indicates a rise of 32.1%, while the same for revenues suggests an improvement of 6.9% from the respective prior-year tallies. The consensus mark for GDRX’s 2024 earnings has moved 15.6% north in the past 30 days.
Lantheus’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 14.84%. The Zacks Consensus Estimate for LNTH’s 2024 earnings indicates a rise of 0.6%, while the same for revenues suggests an improvement of 10.3% from the respective prior-year tallies. The consensus mark for LNTH’s 2024 earnings has moved up 3% in the past 60 days.
Shares of Collegium Pharmaceutical and GoodRx have risen 56.8% and 20.3%, respectively, in the past year. However, the Lantheus stock fell 12.2% in the same time frame.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
Encompass Health (EHC), Piedmont to Build Loganville Facility
Encompass Health Corporation (EHC - Free Report) recently teamed up with the Georgia-based integrated health system, Piedmont Healthcare, to build a freestanding, inpatient rehabilitation hospital in the state. The facility, located in Loganville, will be equipped with 40 beds and the partners have been conferred with a certificate of need for the hospital construction. The company’s shares lost 1.2% on Mar 8, replicating declines in broader markets.
Once the Loganville hospital becomes operational, Piedmont will relocate its existing 20-bed rehabilitation facility in Piedmont Eastside Medical Center to the new one.
The planned hospital will be armed with advanced rehabilitation technologies and provide physical, occupational and speech therapy. It will also have a well-versed nursing team to provide enhanced rehabilitative care to patients recovering from debilitating illnesses and injuries and empower them to resume daily life activities.
Built with the collective capabilities of partners, the Loganville facility is expected to better serve a growing patient base and bring improved health outcomes for residents of the East Atlanta region and beyond. Encompass Health seems prudent to choose Piedmont as its partner for strengthening its presence in Georgia as the integrated healthcare leader boasts a longstanding history of catering to the needs of Georgia residents for more than a century.
The recent move can also be termed as an expansion of the partnership between Encompass Health and Piedmont. Previously, the partners have often come together to operate joint venture hospitals across Georgia. The Rehabilitation Hospital of Columbus inaugurated in September 2023 remains one such example. Meanwhile, construction is underway for the inpatient rehabilitation facility in Atlanta, which will be built as a hospital-in-hospital inside the Piedmont Atlanta Hospital and is likely to commence operations in spring 2024. There are also plans for constructing a 40-bed inpatient rehabilitation unit across Athens, which is likely to open in 2025.
Encompass Health seems to be on a spree to unveil facility expansion plans and subsequently, make the same operational within a reasonable period. To complement these initiatives, EHC often takes the help of renowned healthcare organizations or pursues significant investments.
The resultant increase in the inpatient rehabilitation hospital count is likely to drive revenues of EHC, which rose 10.4% year over year in 2023. The present count of inpatient rehabilitation hospitals is 160 for Encompass Health and is spread across 37 states and Puerto Rico.
Shares of Encompass Health have risen 44.8% in the past year compared with the industry’s 27.1% growth. EHC currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Collegium Pharmaceutical, Inc. (COLL - Free Report) , GoodRx Holdings, Inc. (GDRX - Free Report) and Lantheus Holdings, Inc. (LNTH - Free Report) . While Collegium Pharmaceutical sports a Zacks Rank #1 (Strong Buy), GoodRx and Lantheus carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Collegium Pharmaceutical’s earnings surpassed estimates in three of the last four quarters and met the mark once, the average surprise being 7.54%. The Zacks Consensus Estimate for COLL’s 2024 earnings indicates a rise of 15%, while the same for revenues implies an improvement of 2.8% from the respective prior-year numbers. The consensus mark for COLL’s 2024 earnings has moved 2.9% north in the past 30 days.
The bottom line of GoodRx outpaced estimates in two of the trailing four quarters and matched the mark twice, the average beat being 8.34%. The Zacks Consensus Estimate for GDRX’s 2024 earnings indicates a rise of 32.1%, while the same for revenues suggests an improvement of 6.9% from the respective prior-year tallies. The consensus mark for GDRX’s 2024 earnings has moved 15.6% north in the past 30 days.
Lantheus’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 14.84%. The Zacks Consensus Estimate for LNTH’s 2024 earnings indicates a rise of 0.6%, while the same for revenues suggests an improvement of 10.3% from the respective prior-year tallies. The consensus mark for LNTH’s 2024 earnings has moved up 3% in the past 60 days.
Shares of Collegium Pharmaceutical and GoodRx have risen 56.8% and 20.3%, respectively, in the past year. However, the Lantheus stock fell 12.2% in the same time frame.