Fmr LLC Raises Stock Position in AdaptHealth Corp. (NASDAQ:AHCO)

FMR LLC raised its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,350,549 shares of the company's stock after purchasing an additional 624,645 shares during the period. FMR LLC owned 5.47% of AdaptHealth worth $82,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AHCO. Reinhart Partners LLC. grew its holdings in shares of AdaptHealth by 45.2% during the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company's stock worth $69,611,000 after acquiring an additional 1,929,339 shares during the period. Divisadero Street Capital Management LP grew its holdings in shares of AdaptHealth by 179.7% during the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company's stock worth $11,616,000 after acquiring an additional 746,340 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of AdaptHealth by 43.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company's stock worth $23,277,000 after acquiring an additional 710,131 shares during the period. Segall Bryant & Hamill LLC grew its stake in shares of AdaptHealth by 15.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,701,808 shares of the company's stock worth $41,571,000 after buying an additional 496,453 shares during the last quarter. Finally, Foundry Partners LLC purchased a new stake in shares of AdaptHealth in the 2nd quarter worth approximately $4,706,000. Institutional investors own 82.67% of the company's stock.

Insider Buying and Selling

In related news, COO Shaw Rietkerk sold 25,000 shares of the firm's stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.43% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group cut their price target on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group lowered 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. 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 report on Wednesday, November 6th. Royal Bank of Canada lowered their price objective on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 19th. Finally, Truist Financial lowered their price objective on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.67.

AdaptHealth Stock Performance

Shares of NASDAQ AHCO traded up $0.01 during midday trading on Friday, hitting $9.73. 625,649 shares of the stock traded hands, compared to its average volume of 1,053,872. The firm has a 50-day moving average of $10.29 and a two-hundred day moving average of $10.45. The firm has a market capitalization of $1.31 billion, a P/E ratio of -5.90, a PEG ratio of 1.34 and a beta of 1.10. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. AdaptHealth Corp. has a one year low of $6.43 and a one year high of $11.90.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The firm had revenue of $805.90 million for the quarter, compared to the consensus estimate of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. AdaptHealth'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. On average, equities analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current fiscal 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.