Here are four things to know:
1. The decline follows the company reporting its third quarter results. Envision said the company’s operations were disrupted by hurricanes Harvey and Irma.
2. In the third quarter, Envision’s ambulatory services net revenues totaled $309.4 million, less than the $314.6 million generated in the same period of 2016. The company estimates the hurricanes reduced ambulatory services revenue by $3 million.
3. Canaccord Genuity called Envision’s fourth quarter forecast “alarming.” Envision expects fourth quarter adjusted earnings between $0.44 and $0.54 per share, falling below analysts’ average estimate of $0.94 per share.
4. A Mizuho analyst said Envision’s decision to sell its ambulatory business to KKR & Co. is “startling” as it is less than a year after Envision merged with AmSurg.
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