JPMorgan Chase & Co. Acquires 83,707 Shares of Enhabit, Inc. (NYSE:EHAB)

JPMorgan Chase & Co. boosted its position in Enhabit, Inc. (NYSE:EHAB) by 37.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,245 shares of the company’s stock after buying an additional 83,707 shares during the period. JPMorgan Chase & Co. owned approximately 0.61% of Enhabit worth $2,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EHAB. FMR LLC increased its position in Enhabit by 138.4% in the 3rd quarter. FMR LLC now owns 3,388 shares of the company’s stock valued at $27,000 after buying an additional 1,967 shares in the last quarter. Quarry LP boosted its stake in Enhabit by 242.2% during the 2nd quarter. Quarry LP now owns 3,703 shares of the company’s stock valued at $33,000 after purchasing an additional 2,621 shares during the last quarter. Gladius Capital Management LP boosted its stake in Enhabit by 78.2% during the 3rd quarter. Gladius Capital Management LP now owns 6,259 shares of the company’s stock valued at $49,000 after purchasing an additional 2,747 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in Enhabit during the 3rd quarter valued at about $81,000. Finally, Canada Pension Plan Investment Board acquired a new position in Enhabit during the 2nd quarter valued at about $93,000.

Insider Transactions at Enhabit

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

Enhabit Price Performance

Shares of NYSE EHAB opened at $8.00 on Wednesday. Enhabit, Inc. has a twelve month low of $6.85 and a twelve month high of $11.74. The stock’s 50 day moving average price is $7.83 and its 200-day moving average price is $8.10. The company has a market capitalization of $401.99 million, a PE ratio of -3.45 and a beta of 1.82. 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 earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Enhabit had a positive return on equity of 1.67% and a negative net margin of 11.24%. The business had revenue of $253.60 million during the quarter, compared to analysts’ expectations of $261.69 million. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, equities analysts anticipate that Enhabit, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

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

Enhabit Company 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.