Pacer Advisors Inc. Invests $76.27 Million in AdaptHealth Corp. (NASDAQ:AHCO)

Pacer Advisors Inc. acquired a new stake in AdaptHealth Corp. (NASDAQ:AHCO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,011,702 shares of the company’s stock, valued at approximately $76,271,000. Pacer Advisors Inc. owned about 5.95% of AdaptHealth as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its stake in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after purchasing an additional 1,115 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of AdaptHealth by 15.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock valued at $121,000 after buying an additional 1,690 shares during the last quarter. Moody National Bank Trust Division raised its stake in AdaptHealth by 31.5% during the 4th quarter. Moody National Bank Trust Division now owns 151,170 shares of the company’s stock worth $1,439,000 after acquiring an additional 36,212 shares in the last quarter. Reinhart Partners LLC. lifted its position in AdaptHealth by 1.1% in the fourth quarter. Reinhart Partners LLC. now owns 6,266,854 shares of the company’s stock valued at $59,660,000 after acquiring an additional 68,212 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in AdaptHealth by 5.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 474,722 shares of the company’s stock valued at $4,519,000 after acquiring an additional 24,882 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

Wall Street Analyst Weigh In

AHCO has been the topic of a number of research analyst reports. Robert W. Baird cut their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada cut their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Truist Financial decreased their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. Canaccord Genuity Group cut their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group decreased their price target 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $12.40.

AdaptHealth Trading Up 0.7 %

Shares of AHCO stock opened at $10.33 on Monday. AdaptHealth Corp. has a twelve month low of $6.72 and a twelve month high of $11.90. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $9.92 and its two-hundred day moving average is $10.38. The company has a market capitalization of $1.39 billion, a P/E ratio of -6.26, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data 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 firm had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.19 earnings per share. Equities analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

AdaptHealth Company 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.