Victory Capital Management Inc. Boosts Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Victory Capital Management Inc. lifted its position in AdaptHealth Corp. (NASDAQ:AHCO) by 727.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 141,507 shares of the company’s stock after acquiring an additional 124,404 shares during the quarter. Victory Capital Management Inc.’s holdings in AdaptHealth were worth $1,589,000 as of its most recent SEC filing.

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

Insider Activity

In related news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction 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 sale, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. This trade represents a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the transaction, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AHCO shares. Royal Bank of Canada lowered their price target on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Truist Financial decreased their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. UBS Group dropped their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group decreased their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Robert W. Baird lowered their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

AdaptHealth Price Performance

AdaptHealth stock opened at $10.12 on Tuesday. The firm has a market capitalization of $1.36 billion, a P/E ratio of -6.13, a PEG ratio of 1.38 and a beta of 1.11. AdaptHealth Corp. has a one year low of $6.43 and a one year high of $11.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The business has a fifty day moving average price of $10.47 and a 200-day moving average price of $10.46.

AdaptHealth (NASDAQ:AHCO) last issued its 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 the consensus estimate of $809.32 million. During the same quarter in the prior year, the business earned $0.19 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

About AdaptHealth

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.