Segall Bryant & Hamill LLC Acquires 496,453 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Segall Bryant & Hamill LLC lifted its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 15.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,701,808 shares of the company's stock after acquiring an additional 496,453 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 2.75% of AdaptHealth worth $41,571,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AHCO. Boston Partners purchased a new position in AdaptHealth during the 1st quarter valued at about $693,000. Russell Investments Group Ltd. purchased a new position in AdaptHealth during the first quarter valued at approximately $2,242,000. Royce & Associates LP increased its stake in AdaptHealth by 13.5% in the 3rd quarter. Royce & Associates LP now owns 777,405 shares of the company's stock valued at $8,730,000 after buying an additional 92,740 shares during the period. Vanguard Group Inc. lifted its position 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 buying an additional 818,241 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of AdaptHealth by 142.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 449,840 shares of the company's stock valued at $5,052,000 after buying an additional 264,610 shares during the period. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Stock Down 0.8 %

AdaptHealth stock traded down $0.08 during mid-day trading on Wednesday, hitting $9.66. 209,700 shares of the company's stock were exchanged, compared to its average volume of 1,064,602. 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 cap of $1.30 billion, a P/E ratio of -5.90, a P/E/G ratio of 1.34 and a beta of 1.11. AdaptHealth Corp. has a 1-year low of $6.43 and a 1-year high of $11.90. The stock has a 50 day moving average of $10.56 and a two-hundred day moving average of $10.45.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted 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). The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, analysts anticipate that AdaptHealth Corp. will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Shaw Rietkerk sold 25,000 shares of the firm'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 sale, the chief operating officer now directly owns 212,611 shares of the company's stock, valued at approximately $2,389,747.64. This trade represents a 10.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. This represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.43% of the company's stock.

Analyst Ratings Changes

AHCO has been the subject of several recent research reports. Robert W. Baird cut their price objective on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Truist Financial cut their price objective on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, November 15th. UBS Group cut their price objective on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada cut their price objective on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Canaccord Genuity Group cut 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.