Covestor Ltd Buys 12,362 Shares of Enhabit, Inc. (NYSE:EHAB)

Covestor Ltd grew its stake in shares of Enhabit, Inc. (NYSE:EHAB) by 1,130.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,456 shares of the company’s stock after buying an additional 12,362 shares during the period. Covestor Ltd’s holdings in Enhabit were worth $157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Orion Portfolio Solutions LLC increased its position in shares of Enhabit by 72.5% during the first quarter. Orion Portfolio Solutions LLC now owns 96,833 shares of the company’s stock valued at $1,128,000 after buying an additional 40,684 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Enhabit by 268.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 52,932 shares of the company’s stock worth $617,000 after purchasing an additional 38,555 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Enhabit in the first quarter worth approximately $118,000. Illinois Municipal Retirement Fund increased its position in shares of Enhabit by 10.7% in the first quarter. Illinois Municipal Retirement Fund now owns 33,042 shares of the company’s stock worth $385,000 after purchasing an additional 3,193 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Enhabit by 7.2% in the first quarter. Oppenheimer & Co. Inc. now owns 26,224 shares of the company’s stock worth $306,000 after purchasing an additional 1,768 shares during the last quarter.

Insider Activity

In related news, Director Jeffrey Bolton acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average price of $8.33 per share, with a total value of $83,300.00. Following the completion of the purchase, the director now owns 52,299 shares in the company, valued at approximately $435,650.67. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders purchased 22,000 shares of company stock valued at $183,700. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EHAB. Bank of America decreased their price objective on shares of Enhabit from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Thursday, June 27th. Jefferies Financial Group cut shares of Enhabit from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $14.00 to $8.75 in a research report on Thursday, May 9th. SVB Leerink upgraded shares of Enhabit from an “underperform” rating to a “market perform” rating and set a $8.50 price objective on the stock in a research report on Tuesday, May 14th. Finally, Leerink Partnrs upgraded shares of Enhabit from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.79.

Enhabit Stock Performance

NYSE EHAB traded up $0.07 on Tuesday, reaching $9.71. 104,629 shares of the company’s stock traded hands, compared to its average volume of 561,317. Enhabit, Inc. has a 12 month low of $7.12 and a 12 month high of $14.59. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $8.98 and a 200 day simple moving average of $9.72.

Enhabit (NYSE:EHAB) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $262.40 million during the quarter, compared to analyst estimates of $268.25 million. Enhabit had a positive return on equity of 1.43% and a negative net margin of 7.95%. On average, research analysts anticipate that Enhabit, Inc. will post 0.24 EPS for the current fiscal year.

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.