Intech Investment Management LLC Raises Stock Position in AdaptHealth Corp. (NASDAQ:AHCO)

Intech Investment Management LLC raised its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 223.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,650 shares of the company’s stock after acquiring an additional 41,196 shares during the period. Intech Investment Management LLC’s holdings in AdaptHealth were worth $670,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in AdaptHealth by 8.9% in the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares during the last quarter. Reinhart Partners LLC. boosted its stake in AdaptHealth by 45.2% in the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after buying an additional 1,929,339 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in AdaptHealth by 15.5% during the third quarter. Segall Bryant & Hamill LLC now owns 3,701,808 shares of the company’s stock valued at $41,571,000 after acquiring an additional 496,453 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AdaptHealth by 43.9% during the second 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, Divisadero Street Capital Management LP lifted its holdings in shares of AdaptHealth by 179.7% in 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 during the last quarter. Institutional investors own 82.67% of the company’s stock.

Wall Street Analyst Weigh In

AHCO has been the subject of a number of recent research reports. Truist Financial lowered their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note 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 research note on Wednesday, November 6th. Robert W. Baird reduced their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. UBS Group cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reduced their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.67.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction 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 in the company, valued at $2,389,747.64. The trade was a 10.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.43% of the company’s stock.

AdaptHealth Price Performance

NASDAQ AHCO opened at $10.03 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. AdaptHealth Corp. has a 52 week low of $6.43 and a 52 week high of $11.90. The firm has a market capitalization of $1.35 billion, a P/E ratio of -6.08, a PEG ratio of 1.40 and a beta of 1.11. The company has a 50-day moving average price of $10.36 and a 200-day moving average price of $10.46.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The firm had revenue of $805.90 million for the quarter, compared to the consensus estimate of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. AdaptHealth’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. Equities research analysts anticipate 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.