Needham Investment Management LLC Boosts Position in Enhabit, Inc. (NYSE:EHAB)

Needham Investment Management LLC grew its holdings in Enhabit, Inc. (NYSE:EHAB) by 42.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after acquiring an additional 15,000 shares during the period. Needham Investment Management LLC owned about 0.10% of Enhabit worth $395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its holdings in Enhabit by 39.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 340,412 shares of the company’s stock valued at $3,861,000 after acquiring an additional 95,488 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Enhabit during the 2nd quarter worth approximately $955,000. Marshall Wace LLP acquired a new position in shares of Enhabit in the 2nd quarter valued at $1,941,000. AREX Capital Management LP boosted its holdings in Enhabit by 2.5% during the second quarter. AREX Capital Management LP now owns 2,472,662 shares of the company’s stock worth $22,056,000 after buying an additional 59,353 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Enhabit during the third quarter valued at $215,000.

Enhabit Stock Performance

NYSE:EHAB opened at $8.00 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $401.99 million, a PE ratio of -3.45 and a beta of 1.89. Enhabit, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $11.74. The company has a fifty day moving average of $7.45 and a two-hundred day moving average of $8.34.

Enhabit (NYSE:EHAB) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $253.60 million for the quarter, compared to analyst estimates of $261.69 million. During the same quarter last year, the company earned $0.03 EPS. As a group, research analysts forecast that Enhabit, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Leerink Partners reiterated a “market perform” rating and issued a $8.00 price objective (down previously from $8.50) on shares of Enhabit in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.25.

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.