State Street Corp Purchases 681,816 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

State Street Corp boosted its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 19.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,124,284 shares of the company’s stock after buying an additional 681,816 shares during the quarter. State Street Corp owned approximately 3.07% of AdaptHealth worth $46,316,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in shares of AdaptHealth during the second quarter valued at $58,000. Quarry LP raised its position in AdaptHealth by 4,596.9% during the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after purchasing an additional 5,838 shares during the last quarter. Blue Trust Inc. acquired a new position in AdaptHealth during the 2nd quarter worth about $85,000. Innealta Capital LLC bought a new stake in shares of AdaptHealth in the 2nd quarter valued at about $101,000. Finally, Quest Partners LLC increased its stake in shares of 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 buying an additional 10,140 shares during the period. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Trading Up 0.2 %

NASDAQ:AHCO opened at $9.69 on Friday. AdaptHealth Corp. has a 12 month low of $6.43 and a 12 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 stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.87, a PEG ratio of 1.36 and a beta of 1.10. The firm has a fifty day simple moving average of $10.11 and a two-hundred day simple moving average of $10.44.

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 negative net margin of 6.57% and a positive return on equity of 9.62%. The firm had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts expect that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.