Oppenheimer takes new $2.62M stake in Encompass Health as analysts turn bullish

What's the deal? Oppenheimer Asset ManagementDealroom has a profile for this one. Try Dealroom → bought a new position in Encompass Health CorporationDealroom has a profile for this one. Try Dealroom → (NYSE:EHC) during the second quarter, according to Holdings ChannelDealroom has a profile for this one. Try Dealroom →. It purchased 25,925 shares valued at about $2,620,000.

What does the company do? Encompass Health operates inpatient rehabilitation facilities in the US. The firm carries a market cap of $12.19 billion, with shares opening at $123.58 on Friday against a 12-month range of $92.77 to $127.99.

Who else is buying? Institutional investors and hedge funds now own 97.25% of the stock. Royal Bank of CanadaDealroom has a profile for this one. Try Dealroom → lifted its holdings by 21.5% in the first quarter to 88,470 shares, while Millennium ManagementDealroom has a profile for this one. Try Dealroom → grew its stake 38.4% to 92,197 shares worth $9,338,000.

What are analysts saying? Truist FinancialDealroom has a profile for this one. Try Dealroom → raised its price target to $150 and Weiss RatingsDealroom has a profile for this one. Try Dealroom → upgraded the stock to "buy." Based on MarketBeatDealroom has a profile for this one. Try Dealroom → data, EHC holds a consensus "buy" rating and an average price target of $148.71, well above its current level.

What could go wrong? Insiders have been selling. Chief executive officer Mark J. Tarr sold 173,148 shares on August 10 at an average of $125.47, cutting his position by 39.27%, while executive vice president John Patrick Darby sold 8,906 shares the same day.

The signal: Fresh institutional buying and rising price targets point to steady confidence in Encompass Health, even as executives trim their own holdings near the stock's 12-month high.

Read more: Ticker Report

Image credit: ACRM-Rehabilitation