Royce & Associates LP Has $8.73 Million Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Royce & Associates LP lifted its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 13.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 777,405 shares of the company’s stock after acquiring an additional 92,740 shares during the quarter. Royce & Associates LP owned approximately 0.58% of AdaptHealth worth $8,730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Boston Partners bought a new stake in AdaptHealth in the 1st quarter valued at about $693,000. Russell Investments Group Ltd. acquired a new position in AdaptHealth during the 1st quarter valued at about $2,242,000. Vanguard Group Inc. boosted its stake in AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after purchasing an additional 818,241 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of AdaptHealth by 142.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 449,840 shares of the company’s stock worth $5,052,000 after buying an additional 264,610 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its stake in shares of AdaptHealth by 45.2% in the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after buying an additional 1,929,339 shares during the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Trading Down 4.0 %

AdaptHealth stock opened at $9.64 on Monday. The stock has a market cap of $1.30 billion, a P/E ratio of -5.84, a PEG ratio of 1.34 and a beta of 1.11. AdaptHealth Corp. has a fifty-two week low of $6.43 and a fifty-two week high of $11.90. The firm’s fifty day moving average price is $10.61 and its 200-day moving average price is $10.46. 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 (NASDAQ:AHCO) 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 during the quarter, compared to the consensus estimate of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Equities research analysts forecast that AdaptHealth Corp. will post 0.89 earnings per share for the current fiscal year.

Insider Transactions at AdaptHealth

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AHCO shares. Robert W. Baird cut their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research note on Monday, August 12th. UBS Group dropped their price objective 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 target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Truist Financial lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AdaptHealth has a consensus rating of “Moderate Buy” and an average price target of $12.00.

AdaptHealth Company 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.