Royce & Associates LP Boosts Position in AdaptHealth Corp. (NASDAQ:AHCO)

Royce & Associates LP lifted its position in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 13.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 777,405 shares of the company's stock after purchasing an additional 92,740 shares during the period. Royce & Associates LP owned about 0.58% of AdaptHealth worth $8,730,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Covestor Ltd increased its holdings in shares of AdaptHealth by 279.6% in the 1st quarter. Covestor Ltd now owns 3,109 shares of the company's stock worth $36,000 after acquiring an additional 2,290 shares during the period. Canada Pension Plan Investment Board bought a new position in AdaptHealth during the second quarter valued at approximately $58,000. Blue Trust Inc. bought a new position in shares of AdaptHealth in the second quarter valued at approximately $85,000. Innealta Capital LLC bought a new position in AdaptHealth during the second quarter worth $101,000. Finally, Quest Partners LLC boosted its stake in AdaptHealth by 11,522.7% during the second quarter. Quest Partners LLC now owns 10,228 shares of the company's stock worth $102,000 after buying an additional 10,140 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AHCO has been the topic of several research reports. UBS Group reduced 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 Wednesday, November 6th. Truist Financial 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 Friday. Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 target price on shares of AdaptHealth in a report on Monday, August 12th. Canaccord Genuity Group cut 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. Finally, Robert W. Baird reduced their price target on 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Insiders Place Their Bets

In other AdaptHealth news, 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 owns 36,899 shares in the company, valued at approximately $415,482.74. This trade represents a 9.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred 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 directly owns 212,611 shares in the company, valued at $2,389,747.64. The trade was a 10.52 % decrease in their position. The disclosure for this sale can be found here. 4.43% of the stock is owned by insiders.

AdaptHealth Stock Down 0.7 %

Shares of AHCO stock traded down $0.07 on Monday, reaching $9.57. 700,026 shares of the stock were exchanged, compared to its average volume of 1,070,075. The company has a current ratio of 1.24, a quick ratio of 1.00 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. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -5.77, a PEG ratio of 1.34 and a beta of 1.11. The business's 50 day moving average price is $10.61 and its 200 day moving average price is $10.46.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million for 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 revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. As a group, sell-side analysts expect that AdaptHealth Corp. will post 0.89 earnings per share 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.