AdaptHealth Corp. $AHCO Shares Acquired by Reinhart Partners LLC.

Reinhart Partners LLC. boosted its position in AdaptHealth Corp. (NASDAQ:AHCO) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,100,785 shares of the company’s stock after purchasing an additional 773,727 shares during the period. AdaptHealth comprises 2.4% of Reinhart Partners LLC.’s investment portfolio, making the stock its 22nd biggest position. Reinhart Partners LLC. owned approximately 0.06% of AdaptHealth worth $80,684,000 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 company. PNC Financial Services Group Inc. raised its holdings in AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares during the last quarter. Arizona State Retirement System raised its holdings in AdaptHealth by 9.3% during the third quarter. Arizona State Retirement System now owns 27,937 shares of the company’s stock worth $250,000 after purchasing an additional 2,367 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AdaptHealth by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after purchasing an additional 2,564 shares during the last quarter. Vident Advisory LLC raised its holdings in AdaptHealth by 17.9% during the second quarter. Vident Advisory LLC now owns 17,737 shares of the company’s stock worth $167,000 after purchasing an additional 2,694 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in AdaptHealth by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company’s stock worth $1,997,000 after purchasing an additional 2,718 shares during the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Stock Performance

AdaptHealth stock opened at $9.65 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.71 and a current ratio of 0.92. The stock has a fifty day moving average of $11.58 and a two-hundred day moving average of $10.55. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -15.56, a PEG ratio of 0.57 and a beta of 1.47. AdaptHealth Corp. has a fifty-two week low of $8.06 and a fifty-two week high of $13.43.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). The company had revenue of $819.80 million for the quarter, compared to analysts’ expectations of $796.63 million. AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. On average, analysts anticipate that AdaptHealth Corp. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Truist Financial lifted their price objective on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, April 13th. UBS Group reduced their price objective on AdaptHealth from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Robert W. Baird set a $18.00 price objective on AdaptHealth in a report on Wednesday, May 6th. Finally, Leerink Partners reduced their price objective on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AdaptHealth has a consensus rating of “Moderate Buy” and an average price target of $14.29.

Insiders Place Their Bets

In related news, major shareholder Richard M. Cashin, Jr. purchased 820,528 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $9.73 per share, with a total value of $7,983,737.44. Following the completion of the transaction, the insider owned 14,638,708 shares of the company’s stock, valued at approximately $142,434,628.84. This represents a 5.94% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 2,494,518 shares of company stock worth $24,352,291 over the last ninety days. Company insiders own 1.95% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.