Royce & Associates LP Acquires 92,740 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Royce & Associates LP raised its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 13.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 777,405 shares of the company’s stock after purchasing an additional 92,740 shares during the period. Royce & Associates LP’s holdings in AdaptHealth were worth $8,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Reinhart Partners LLC. boosted its stake in shares of AdaptHealth by 45.2% during the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after acquiring an additional 1,929,339 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after purchasing an additional 818,241 shares during the period. Divisadero Street Capital Management LP raised its stake in shares of AdaptHealth by 179.7% during the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after acquiring an additional 746,340 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AdaptHealth by 43.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after acquiring an additional 710,131 shares in the last quarter. Finally, Foundry Partners LLC acquired a new position in AdaptHealth during the 2nd quarter valued at approximately $4,706,000. Institutional investors own 82.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AHCO shares. Truist Financial cut their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. UBS Group dropped their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group dropped their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Robert W. Baird dropped their target price on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Insiders Place Their Bets

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total transaction of $45,040.00. Following the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at $415,482.74. The trade was a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the transaction, the chief operating officer now directly owns 212,611 shares in the company, valued at $2,389,747.64. This trade represents a 10.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is owned by insiders.

AdaptHealth Stock Performance

AHCO opened at $9.64 on Monday. The firm has a market capitalization of $1.30 billion, a PE ratio of -5.84, a PEG ratio of 1.34 and a beta of 1.11. AdaptHealth Corp. has a twelve month low of $6.43 and a twelve month high of $11.90. The firm’s 50-day moving average price is $10.61 and its 200 day moving average price is $10.46. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, sell-side analysts expect that AdaptHealth Corp. will post 0.89 EPS for the current fiscal year.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.