Raymond James & Associates Boosts Stock Position in AdaptHealth Corp. (NASDAQ:AHCO)

Raymond James & Associates raised its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 42.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,785 shares of the company’s stock after buying an additional 4,740 shares during the quarter. Raymond James & Associates’ holdings in AdaptHealth were worth $115,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Moody National Bank Trust Division raised its position in shares of AdaptHealth by 35.3% in the 4th quarter. Moody National Bank Trust Division now owns 62,962 shares of the company’s stock worth $459,000 after purchasing an additional 16,427 shares during the last quarter. Resource Consulting Group Inc. purchased a new position in AdaptHealth in the fourth quarter worth about $328,000. Ziegler Capital Management LLC lifted its stake in shares of AdaptHealth by 7.4% in the fourth quarter. Ziegler Capital Management LLC now owns 58,353 shares of the company’s stock worth $425,000 after buying an additional 4,012 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of AdaptHealth by 9.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 43,820 shares of the company’s stock valued at $319,000 after buying an additional 3,606 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of AdaptHealth by 4.3% during the third quarter. Vanguard Group Inc. now owns 8,656,553 shares of the company’s stock valued at $78,775,000 after acquiring an additional 355,005 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $10.06 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $1.34 billion, a PE ratio of -1.89, a price-to-earnings-growth ratio of 0.66 and a beta of 1.02. The firm’s 50 day moving average price is $10.21 and its 200-day moving average price is $8.49. AdaptHealth Corp. has a twelve month low of $6.37 and a twelve month high of $15.37.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.44. AdaptHealth had a negative net margin of 21.21% and a positive return on equity of 8.84%. The business had revenue of $858.23 million for the quarter, compared to the consensus estimate of $825.94 million. Equities research analysts expect that AdaptHealth Corp. will post 0.88 EPS for the current year.

Insider Activity at AdaptHealth

In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the sale, the insider now owns 11,643,769 shares in the company, valued at $128,314,334.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other AdaptHealth news, major shareholder James E. Flynn sold 52,487 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $10.93, for a total transaction of $573,682.91. Following the sale, the insider now owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder James E. Flynn sold 182,607 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $11.02, for a total transaction of $2,012,329.14. Following the completion of the transaction, the insider now owns 11,643,769 shares of the company’s stock, valued at $128,314,334.38. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AHCO. UBS Group upped their price objective on AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a report on Monday, March 4th. Truist Financial upped their target price on shares of AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Jefferies Financial Group lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and reduced their price target for the stock from $14.50 to $8.00 in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.10.

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.