Enhabit (NYSE:EHAB) Shares Gap Up Following Insider Buying Activity

Enhabit, Inc. (NYSE:EHAB – Get Rating)’s share price gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $12.45, but opened at $12.72. Enhabit shares last traded at $12.52, with a volume of 23,746 shares.

Specifically, EVP Ronald Leroy Langham, Jr. purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average cost of $11.99 per share, for a total transaction of $119,900.00. Following the purchase, the executive vice president now directly owns 44,328 shares in the company, valued at approximately $531,492.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have acquired 22,000 shares of company stock worth $263,300.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Enhabit in a research report on Thursday, March 16th. They set a “neutral” rating and a $15.00 target price for the company. Credit Suisse Group restated a “neutral” rating and set a $15.00 target price on shares of Enhabit in a research report on Thursday, February 16th. Citigroup dropped their target price on Enhabit from $18.00 to $15.00 in a research report on Friday, May 12th. Finally, Stifel Nicolaus boosted their target price on Enhabit from $17.00 to $18.00 in a research report on Wednesday, February 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Enhabit currently has a consensus rating of “Hold” and an average target price of $16.13.

Enhabit Stock Performance

The stock’s fifty day simple moving average is $12.94 and its 200 day simple moving average is $13.64. The company has a market cap of $623.24 million and a price-to-earnings ratio of 15.95. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.71.

Hedge Funds Weigh In On Enhabit

A number of hedge funds have recently made changes to their positions in EHAB. BlackRock Inc. purchased a new position in Enhabit in the 3rd quarter valued at approximately $97,492,000. Vanguard Group Inc. purchased a new position in Enhabit in the 3rd quarter valued at approximately $77,886,000. State Street Corp purchased a new position in Enhabit in the 3rd quarter valued at approximately $22,827,000. Systematic Financial Management LP purchased a new position in Enhabit in the 3rd quarter valued at approximately $20,566,000. Finally, Deutsche Bank AG boosted its position in Enhabit by 976.7% in the 4th quarter. Deutsche Bank AG now owns 1,487,331 shares of the company’s stock valued at $19,573,000 after buying an additional 1,349,187 shares during the period. Hedge funds and other institutional investors own 95.55% of the company’s stock.

Enhabit Company Profile

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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.