Algert Global LLC Lowers Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Algert Global LLC lowered its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,698 shares of the company’s stock after selling 11,010 shares during the quarter. Algert Global LLC owned 0.09% of AdaptHealth worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AHCO. Canada Pension Plan Investment Board purchased a new position in AdaptHealth in the 2nd quarter worth $58,000. Blue Trust Inc. bought a new stake in AdaptHealth during the second quarter worth about $85,000. Innealta Capital LLC bought a new stake in AdaptHealth during the second quarter worth about $101,000. Quest Partners LLC boosted its stake in AdaptHealth by 11,522.7% during the second quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock worth $102,000 after acquiring an additional 10,140 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in AdaptHealth in the second quarter worth about $113,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AHCO. Canaccord Genuity Group decreased their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Truist Financial reduced their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. UBS Group cut their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Robert W. Baird lowered their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Insider Activity at AdaptHealth

In related news, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This trade represents a 10.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.43% of the stock is currently owned by insiders.

AdaptHealth Stock Performance

Shares of NASDAQ AHCO opened at $9.99 on Friday. 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 Corp. has a 12 month low of $6.43 and a 12 month high of $11.90. The company has a 50 day simple moving average of $10.38 and a two-hundred day simple moving average of $10.45. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -6.05, a PEG ratio of 1.42 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. During the same period in the previous year, the firm posted $0.19 EPS. AdaptHealth’s revenue was up .2% compared to the same quarter last year. As a group, analysts predict that AdaptHealth Corp. will post 0.88 earnings per share for the current year.

AdaptHealth Profile

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.