JPMorgan Chase & Co. Sells 271,731 Shares of Enhabit, Inc. $EHAB

Key Points

• JPMorgan Chase cut its stake in Enhabit by 48.2%, selling 271,731 shares in Q3 and finishing the period with 291,823 shares (about 0.58% of the company) valued at $2.34M.
• Enhabit reported Q results with EPS of $0.14 (in line) and revenue of $270.4M (roughly in line); the stock trades near $13.98, has a market cap of $708.8M and a negative trailing P/E of -155.28.
• The Street’s consensus is a "Hold" with an average target of $13.57 (two Buy, six Hold, one Sell), and several analysts recently nudged targets up to about $13.80.

JPMorgan Chase & Co. lowered its holdings in shares of Enhabit, Inc. (NYSE:EHAB - Free Report) by 48.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,823 shares of the company's stock after selling 271,731 shares during the period. JPMorgan Chase & Co. owned approximately 0.58% of Enhabit worth $2,338,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of EHAB. Osaic Holdings Inc. boosted its stake in Enhabit by 337.5% during the second quarter. Osaic Holdings Inc. now owns 2,616 shares of the company's stock worth $25,000 after acquiring an additional 2,018 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Enhabit during the third quarter worth about $27,000. Tower Research Capital LLC TRC boosted its stake in Enhabit by 82.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,542 shares of the company's stock worth $44,000 after acquiring an additional 2,059 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Enhabit by 523.1% during the second quarter. Russell Investments Group Ltd. now owns 5,795 shares of the company's stock worth $56,000 after acquiring an additional 4,865 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Enhabit by 110,987.5% during the first quarter. Jones Financial Companies Lllp now owns 8,887 shares of the company's stock worth $78,000 after acquiring an additional 8,879 shares in the last quarter.

Enhabit Trading Down 0.2%

Shares of NYSE EHAB opened at $13.98 on Tuesday. The firm's 50 day moving average price is $12.66 and its 200-day moving average price is $10.25. The company has a market cap of $708.81 million, a PE ratio of -155.28 and a beta of 1.45. Enhabit, Inc. has a 52-week low of $6.47 and a 52-week high of $14.22. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.63 and a current ratio of 1.63.

Enhabit (NYSE:EHAB - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $270.40 million for the quarter, compared to the consensus estimate of $270.56 million. Enhabit had a negative net margin of 0.43% and a positive return on equity of 4.71%. On average, equities research analysts expect that Enhabit, Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at Enhabit

In other news, EVP Julie Diane Jolley sold 2,793 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $13.63, for a total transaction of $38,068.59. Following the completion of the transaction, the executive vice president directly owned 139,923 shares of the company's stock, valued at $1,907,150.49. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EHAB. Leerink Partners boosted their price objective on shares of Enhabit from $9.50 to $13.80 and gave the stock a "market perform" rating in a research note on Monday, February 23rd. Oppenheimer downgraded shares of Enhabit from an "outperform" rating to a "market perform" rating in a research note on Monday, February 23rd. TD Cowen reiterated a "hold" rating and issued a $13.80 target price (up from $12.00) on shares of Enhabit in a research note on Friday, March 6th. UBS Group reiterated a "neutral" rating and issued a $13.80 target price (up from $12.00) on shares of Enhabit in a research note on Tuesday, February 24th. Finally, Citigroup reiterated a "buy" rating on shares of Enhabit in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $13.57.

Enhabit Profile

Enhabit, Inc NYSE: EHAB is a national provider of home-based healthcare services, offering a continuum of care designed to support patients in the comfort of their own homes. The company’s core mission is to deliver personalized clinical and non-clinical services that help individuals recover from illness or injury, manage chronic conditions, and, when necessary, receive compassionate end-of-life care. Enhabit’s business model centers on combining skilled clinical care with patient-centric service coordination to optimize outcomes and enhance the overall care experience.

The company’s service portfolio includes skilled nursing, physical, occupational and speech therapies, personal care assistance, palliative care and hospice services.

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