AdaptHealth Corp. (NASDAQ:AHCO) Shares Acquired by State Street Corp

State Street Corp grew its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 19.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,124,284 shares of the company's stock after buying an additional 681,816 shares during the quarter. State Street Corp owned 3.07% of AdaptHealth worth $46,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. purchased a new stake in AdaptHealth in the second quarter worth $85,000. Bank of New York Mellon Corp increased its stake in AdaptHealth by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 746,211 shares of the company's stock worth $7,462,000 after buying an additional 20,599 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in AdaptHealth in the 2nd quarter worth about $113,000. Innealta Capital LLC bought a new stake in AdaptHealth during the 2nd quarter valued at about $101,000. Finally, Rhumbline Advisers boosted its position in AdaptHealth by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 271,033 shares of the company's stock valued at $2,710,000 after buying an additional 3,498 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AHCO. Truist Financial decreased 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. Canaccord Genuity Group decreased their target price on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. UBS Group dropped their price target on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird decreased 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. Finally, Royal Bank of Canada dropped 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. One equities 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.67.

AdaptHealth Stock Up 6.1 %

Shares of NASDAQ AHCO traded up $0.59 during mid-day trading on Friday, reaching $10.28. 11,860,807 shares of the company were exchanged, compared to its average volume of 1,111,880. AdaptHealth Corp. has a 1 year low of $6.46 and a 1 year high of $11.90. The firm has a 50-day moving average of $10.11 and a 200 day moving average of $10.44. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -6.23, a P/E/G ratio of 1.36 and a beta of 1.10. 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 (NASDAQ:AHCO - Get Free Report) last released its quarterly 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). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The firm had revenue of $805.90 million for the quarter, compared to analysts' expectations of $809.32 million. During the same period in the previous year, the company posted $0.19 earnings per share. The business's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that AdaptHealth Corp. will post 0.88 earnings per share for the current year.

AdaptHealth Profile

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.