Yahoo Finance Encompass Health's (EHC) Plan Marks Entry in Rhode Island
Encompass Health Corporation EHC unveiled plans to construct an inpatient rehabilitation hospital in Johnston, RI. Equipped with 50 beds, the hospital is likely to be operational from 2024.
The inpatient rehabilitation facility will be furnished with high-quality rehabilitation technology and equipment, and well-versed medical teams to provide cost-effective physical, occupational and speech treatment for patients suffering from debilitating illnesses and injuries. This, in turn, will enable Encompass Health to extend specialized care and provide better health outcomes across the state of Rhode Island.
The hospital marks the first instance, wherein EHC has stepped into Rhode Island to serve its residents. By operating the rehabilitation facility, a broader aim of strengthening the footprint of Encompass Health across the Northeast can also be highlighted.
The latest announcement is the first expansion plan unveiled by Encompass Health from the beginning of 2023. EHC usually follows an aggressive route and remains active throughout the year in constructing inpatient rehabilitation hospitals across different U.S. states grappling with inaccessibility to quality care. Efforts are also made to inaugurate the facilities within a reasonable timeline so that residents of the neighboring regions of the hospitals can quickly commence availing the effective rehabilitative services suite of Encompass Health.
EHC’s inpatient rehabilitation hospital count presently stands at 153, which is stretched across 36 states and Puerto Rico. The last addition to its hospital count was made in September 2022 in Naples city of Florida, one of Encompass Health’s most targeted spots for inaugurating inpatient rehabilitation facilities.
A swift geographical expansion strategy continues to bolster revenues of EHC’s sole operating segment, Inpatient Rehabilitation. Solid demand for a well-devised rehabilitative plan to aid patients in resuming their normal daily activities provides an impetus for Encompass Health to pursue its expansion plans uninterruptedly.
Shares of Encompass Health have gained 25% in the past six months against the industry’s 4.2% decline.
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Encompass Health currently has a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked stocks in the Medical space are Progyny, Inc. PGNY, United Therapeutics Corporation UTHR and Sanofi SNY. While Progyny sports a Zacks Rank #1 (Strong Buy), United Therapeutics and Sanofi carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Progyny’s earnings surpassed estimates in each of the last four quarters, the average being 233.75%. The Zacks Consensus Estimate for PGNY’s 2022 earnings suggests an improvement of 27.5%, while the same for revenues indicates growth of 32.3% from the 2022 estimates. The consensus mark for PGNY’s 2022 earnings has moved 2.8% north in the past 60 days.
The bottom line of United Therapeutics outpaced estimates in two of the trailing four quarters and missed the mark twice, the average being 7.24%. The Zacks Consensus Estimate for UTHR’s 2022 earnings suggests an improvement of 13%, while the same for revenues indicates growth of 12.8% from the 2022 estimates. The consensus mark for UTHR’s 2022 earnings has moved 0.5% north in the past 30 days.
Sanofi’s earnings surpassed estimates in each of the last four quarters, the average being 9.50%. The Zacks Consensus Estimate for SNY’s 2022 earnings suggests an improvement of 0.5%, while the same for revenues indicates growth of 3.1% from the 2022 estimates. The consensus mark for SNY’s 2022 earnings has moved 0.7% north in the past 30 days.
Shares of Progyny and United Therapeutics have gained 5.6% and 11.5%, respectively, in the past six months. However, the Sanofi stock has lost 1.8% in the same time frame.
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