Charles Schwab Investment Management Inc. Boosts Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Charles Schwab Investment Management Inc. raised its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,230,364 shares of the company's stock after acquiring an additional 81,624 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.91% of AdaptHealth worth $13,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AHCO. Price T Rowe Associates Inc. MD raised its holdings in AdaptHealth by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,874 shares of the company's stock valued at $667,000 after acquiring an additional 4,575 shares during the period. Reinhart Partners LLC. raised its holdings in AdaptHealth by 1.4% during the second quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company's stock valued at $42,693,000 after acquiring an additional 59,092 shares during the period. Blue Trust Inc. purchased a new stake in shares of AdaptHealth in the second quarter worth about $85,000. SummerHaven Investment Management LLC raised its holdings in shares of AdaptHealth by 2.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 57,645 shares of the company's stock worth $576,000 after acquiring an additional 1,503 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in AdaptHealth by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 746,211 shares of the company's stock worth $7,462,000 after purchasing an additional 20,599 shares during the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Price Performance

AHCO stock traded down $0.06 during trading on Monday, reaching $9.67. The company had a trading volume of 367,843 shares, compared to its average volume of 1,050,912. The firm has a 50-day simple moving average of $10.27 and a 200-day simple moving average of $10.46. 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 twelve month low of $6.43 and a twelve month high of $11.90.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $805.90 million for the quarter, compared to analysts' expectations of $809.32 million. During the same period last year, the company posted $0.19 earnings per share. The business's quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast that AdaptHealth Corp. will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on AHCO shares. Royal Bank of Canada reduced their target price 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. Canaccord Genuity Group decreased their price objective on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. UBS Group dropped their target price on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Truist Financial dropped 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 Friday, November 15th. Finally, Robert W. Baird reduced their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.67.

Insider Activity

In other news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.43% of the company's stock.

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.