AdaptHealth Corp. $AHCO Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,768,599 shares of the company’s stock after buying an additional 491,106 shares during the quarter. Vanguard Group Inc. owned about 0.09% of AdaptHealth worth $117,215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in AdaptHealth by 17.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 21,117 shares of the company’s stock valued at $211,000 after purchasing an additional 3,061 shares in the last quarter. Hudson Edge Investment Partners Inc. acquired a new position in AdaptHealth in the fourth quarter valued at approximately $614,000. State of Alaska Department of Revenue boosted its holdings in AdaptHealth by 25.9% in the fourth quarter. State of Alaska Department of Revenue now owns 77,739 shares of the company’s stock valued at $773,000 after purchasing an additional 15,977 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in AdaptHealth by 7.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 173,515 shares of the company’s stock valued at $1,728,000 after purchasing an additional 11,398 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in AdaptHealth by 4.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 136,892 shares of the company’s stock valued at $1,363,000 after purchasing an additional 6,073 shares in the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AdaptHealth

In related news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the purchase, the insider directly owned 16,312,698 shares of the company’s stock, valued at $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 2,494,518 shares of company stock worth $24,352,291 in the last three months. 1.95% of the stock is owned by corporate insiders.

AdaptHealth Price Performance

AdaptHealth stock opened at $11.25 on Wednesday. AdaptHealth Corp. has a 12 month low of $8.06 and a 12 month high of $13.43. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. The business has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $10.45. The stock has a market capitalization of $1.53 billion, a PE ratio of -18.14, a price-to-earnings-growth ratio of 0.51 and a beta of 1.57.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The company had revenue of $819.80 million for the quarter, compared to analysts’ expectations of $796.63 million. During the same quarter last year, the company earned ($0.05) EPS. AdaptHealth’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that AdaptHealth Corp. will post 0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Leerink Partners lowered their price target on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $11.00 price target on shares of AdaptHealth in a report on Monday, April 20th. Truist Financial boosted their price objective on AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Weiss Ratings cut AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, February 25th. Finally, UBS Group reduced their price objective on AdaptHealth from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.29.

AdaptHealth Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.