JPMorgan Chase & Co. lifted its position in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 73.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,833 shares of the company's stock after purchasing an additional 81,097 shares during the quarter. JPMorgan Chase & Co. owned about 0.14% of AdaptHealth worth $2,154,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in AHCO. Principal Financial Group Inc. raised its stake in AdaptHealth by 39.7% during the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company's stock valued at $6,106,000 after buying an additional 154,434 shares during the last quarter. Franklin Resources Inc. raised its stake in AdaptHealth by 20.2% during the third quarter. Franklin Resources Inc. now owns 65,601 shares of the company's stock valued at $737,000 after buying an additional 11,037 shares during the last quarter. Geode Capital Management LLC raised its stake in AdaptHealth by 12.2% during the third quarter. Geode Capital Management LLC now owns 2,451,173 shares of the company's stock valued at $27,532,000 after buying an additional 265,712 shares during the last quarter. Barclays PLC raised its stake in AdaptHealth by 361.3% during the third quarter. Barclays PLC now owns 181,240 shares of the company's stock valued at $2,034,000 after buying an additional 141,949 shares during the last quarter. Finally, LRI Investments LLC raised its stake in AdaptHealth by 32.0% during the third quarter. LRI Investments LLC now owns 15,331 shares of the company's stock valued at $172,000 after buying an additional 3,713 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors.
AdaptHealth Stock Performance
AdaptHealth stock traded down $0.33 during mid-day trading on Wednesday, reaching $10.17. 794,051 shares of the stock traded hands, compared to its average volume of 839,719. The stock has a market capitalization of $1.37 billion, a PE ratio of -6.16, a price-to-earnings-growth ratio of 1.36 and a beta of 1.09. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. AdaptHealth Corp. has a 12-month low of $6.72 and a 12-month high of $11.90. The business's 50-day moving average is $9.91 and its 200-day moving average is $10.36.
AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million during the quarter, compared to analysts' expectations of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The business's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. As a group, sell-side analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on AHCO shares. Truist Financial lowered their price objective on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Canaccord Genuity Group decreased their price target on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. UBS Group decreased their price target on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Robert W. Baird decreased their price target on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price target on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $12.40.
Read Our Latest Stock Analysis on AdaptHealth
AdaptHealth Company Profile
(
Free Report)
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.
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