Needham Investment Management LLC Increases Holdings in Enhabit, Inc. (NYSE:EHAB)

Needham Investment Management LLC raised its stake in Enhabit, Inc. (NYSE:EHAB) by 42.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,000 shares of the company’s stock after buying an additional 15,000 shares during the period. Needham Investment Management LLC’s holdings in Enhabit were worth $395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EHAB. DekaBank Deutsche Girozentrale grew its holdings in shares of 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 purchasing an additional 95,488 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Enhabit in the 2nd quarter valued at approximately $955,000. Marshall Wace LLP acquired a new stake in shares of Enhabit during the 2nd quarter worth approximately $1,941,000. AREX Capital Management LP raised its position in shares of Enhabit by 2.5% during the 2nd quarter. AREX Capital Management LP now owns 2,472,662 shares of the company’s stock valued at $22,056,000 after buying an additional 59,353 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Enhabit in the third quarter valued at approximately $215,000.

Enhabit Stock Performance

NYSE:EHAB opened at $8.00 on Wednesday. Enhabit, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $11.74. 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 company has a 50 day moving average price of $7.45 and a 200 day moving average price of $8.34. The stock has a market capitalization of $401.99 million, a P/E ratio of -3.45 and a beta of 1.89.

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

Analysts Set New Price Targets

Separately, Leerink Partners reissued a “market perform” rating and set a $8.00 target price (down previously from $8.50) on shares of Enhabit in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Enhabit presently has a consensus rating of “Hold” and an average target price 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.