Truist Financial Corp Decreases Stock Position in AdaptHealth Corp. (NASDAQ:AHCO)

Truist Financial Corp lessened its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,097,346 shares of the company’s stock after selling 341,519 shares during the quarter. Truist Financial Corp owned 2.33% of AdaptHealth worth $30,973,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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 in the last quarter. Reinhart Partners LLC. lifted its stake in shares of AdaptHealth by 1.4% during the second quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock worth $42,693,000 after buying an additional 59,092 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 valued at $23,277,000 after buying an additional 710,131 shares during the last quarter. Divisadero Street Capital Management LP increased its position 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 valued at $11,616,000 after acquiring an additional 746,340 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in AdaptHealth by 50.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 897,752 shares of the company’s stock worth $8,978,000 after acquiring an additional 302,801 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Insiders Place Their Bets

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

AdaptHealth Price Performance

NASDAQ:AHCO opened at $10.82 on Thursday. The firm’s fifty day moving average is $10.72 and its two-hundred day moving average is $10.45. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -2.05, a PEG ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15. AdaptHealth Corp. has a one year low of $6.37 and a one year high of $11.90.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $805.98 million for the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. Research analysts expect that AdaptHealth Corp. will post 0.87 EPS for the current year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, AdaptHealth presently has a consensus rating of “Hold” and an average target price of $10.70.

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.