Encompass Health (EHC) Opens Second Hospital in Wisconsin
Encompass Health Corporation EHC recently unveiled its latest healthcare facility, the Encompass Health Rehabilitation Hospital of Fitchburg, catering to patients recovering from a range of debilitating conditions. This expansion marks EHC's 161st inpatient rehabilitation hospital in the country.
The hospital's opening in Fitchburg, WI, was moved up from the initially scheduled first quarter of 2024 thanks to favorable weather conditions and efficiencies in construction. The new hospital is in line with the company’s strategy of opening six to ten de novos each year during the 2023-2027 period.
It aims to address the growing demand for facility-based and home-based post-acute care services in different markets by constructing or acquiring new hospitals. In the first nine months of 2023, the company added 340 beds to its capacity, with more in the pipeline. It is likely to add more than 150 beds to its existing facilities in the next year.
Located at 5535 Nobel Drive, the new 56-bed hospital provides round-the-clock nursing care. The facility goes beyond by delivering comprehensive physical, occupational and speech therapies dedicated to reinstating functional capacity. The move showcases EHC’s dedication to deliver high-quality and rehabilitative care across diverse health challenges.
The move will expand Encompass Health’s footprint in Wisconsin and boost its rehabilitation hospitals’ network. The new unit is the second hospital of the company in the state. EHC has hospitals across 37 states and Puerto Rico. It continues to build new hospitals and increase its capabilities as patient volumes keep rising.
Price Performance
Shares of Encompass Health have gained 14.9% in the past year compared with the 2.7% rise of the industry.
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Zacks Rank and Key Picks
Encompass Health currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Medical space are Enovis Corporation ENOV, Centene Corporation CNC and Molina Healthcare, Inc. MOH, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Enovis’ current-year earnings implies a 4.9% increase from the year-ago reported figure. The consensus mark for its current year revenues is pegged at $1.7 billion. ENOV beat earnings estimates in all the last four quarters, with an average surprise of 11%.
The Zacks Consensus Estimate for Centene’s 2023 earnings indicates a 14.9% year-over-year increase to $6.64 per share. It has witnessed eight upward estimate revisions over the past 30 days against no movement in the opposite direction. The consensus mark for CNC’s 2023 revenues indicates 4.4% growth from a year ago.
The Zacks Consensus Estimate for Molina Healthcare’s 2023 bottom line is pegged at $20.83 per share, suggesting 16.2% year-over-year growth. It beat earnings estimates in all the last four quarters, with an average surprise of 7.5%. The consensus mark for MOH’s current year revenues indicates 4.3% growth from a year ago.
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