Victory Capital Management Inc. Buys 124,404 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Victory Capital Management Inc. lifted its holdings in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 727.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,507 shares of the company's stock after purchasing an additional 124,404 shares during the quarter. Victory Capital Management Inc. owned 0.11% of AdaptHealth worth $1,589,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in shares of AdaptHealth during the 2nd quarter worth approximately $58,000. Blue Trust Inc. acquired a new stake in AdaptHealth in the second quarter valued at $85,000. Innealta Capital LLC bought a new position in shares of AdaptHealth in the 2nd quarter valued at about $101,000. Quest Partners LLC increased its stake in shares of AdaptHealth by 11,522.7% during the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company's stock worth $102,000 after purchasing an additional 10,140 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of AdaptHealth in the 2nd quarter valued at about $113,000. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Stock Performance

NASDAQ AHCO traded down $0.17 during trading on Tuesday, reaching $9.95. The company's stock had a trading volume of 705,194 shares, compared to its average volume of 1,061,661. The firm has a 50 day moving average price of $10.43 and a 200 day moving average price of $10.46. AdaptHealth Corp. has a 12 month low of $6.43 and a 12 month high of $11.90. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -6.03, a price-to-earnings-growth ratio of 1.38 and a beta of 1.11. 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 (NASDAQ:AHCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (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 company had revenue of $805.90 million during the quarter, compared to the consensus estimate of $809.32 million. During the same quarter last year, the firm posted $0.19 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Activity

In other news, COO Shaw Rietkerk sold 25,000 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares of the company's stock, valued at approximately $2,389,747.64. This represents a 10.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares in the company, valued at $415,482.74. This trade represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AHCO shares. Truist Financial reduced their price target on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, November 15th. Canaccord Genuity Group decreased their target price on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Robert W. Baird cut their price target on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. UBS Group decreased their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their target price on shares of AdaptHealth from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, AdaptHealth presently has a consensus rating of "Moderate Buy" and a consensus target price 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.