Franklin Resources Inc. Purchases 5,317 Shares of Enhabit, Inc. (NYSE:EHAB)

Franklin Resources Inc. grew its holdings in shares of Enhabit, Inc. (NYSE:EHAB) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,382 shares of the company’s stock after acquiring an additional 5,317 shares during the quarter. Franklin Resources Inc. owned about 0.06% of Enhabit worth $256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. WINTON GROUP Ltd bought a new stake in Enhabit during the second quarter worth about $955,000. Marshall Wace LLP purchased a new position in shares of Enhabit during the 2nd quarter valued at about $1,941,000. Systematic Financial Management LP boosted its stake in Enhabit by 12.2% in the third quarter. Systematic Financial Management LP now owns 1,838,199 shares of the company’s stock worth $14,522,000 after buying an additional 199,235 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Enhabit in the third quarter worth approximately $215,000. Finally, AREX Capital Management LP grew its position in Enhabit by 2.5% during the second quarter. AREX Capital Management LP now owns 2,472,662 shares of the company’s stock valued at $22,056,000 after acquiring an additional 59,353 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Enhabit from a “hold” rating to a “buy” rating and upped their price objective for the company from $8.25 to $9.50 in a research note on Monday, December 9th. Leerink Partners reaffirmed a “market perform” rating and set a $8.00 price objective (down from $8.50) on shares of Enhabit in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.75.

Enhabit Trading Up 1.6 %

Shares of EHAB opened at $7.81 on Thursday. The firm has a fifty day simple moving average of $7.72 and a two-hundred day simple moving average of $8.18. Enhabit, Inc. has a twelve month low of $6.85 and a twelve month high of $11.74. The stock has a market capitalization of $392.72 million, a P/E ratio of -3.37 and a beta of 1.89. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.85.

Enhabit (NYSE:EHAB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $253.60 million for the quarter, compared to analysts’ expectations of $261.69 million. Enhabit had a negative net margin of 11.24% and a positive return on equity of 1.67%. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, research analysts anticipate that Enhabit, Inc. will post 0.22 EPS for the current year.

Insider Activity at Enhabit

In related news, Director Jeffrey Bolton acquired 4,000 shares of Enhabit stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $8.69 per share, with a total value of $34,760.00. Following the transaction, the director now directly owns 98,144 shares in the company, valued at approximately $852,871.36. This represents a 4.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stuart M. Mcguigan bought 15,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was bought at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the completion of the acquisition, the director now directly owns 46,810 shares of the company’s stock, valued at approximately $412,396.10. This represents a 47.15 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Enhabit Profile

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.