SummerHaven Investment Management LLC Has $399,000 Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

SummerHaven Investment Management LLC lifted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,754 shares of the company’s stock after purchasing an additional 1,411 shares during the quarter. SummerHaven Investment Management LLC’s holdings in AdaptHealth were worth $399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Oak Thistle LLC bought a new stake in AdaptHealth during the third quarter worth approximately $94,000. Campbell & CO Investment Adviser LLC acquired a new position in AdaptHealth during the 3rd quarter worth $100,000. Raymond James & Associates acquired a new stake in shares of AdaptHealth in the third quarter valued at about $101,000. Everence Capital Management Inc. bought a new position in shares of AdaptHealth in the fourth quarter worth about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AdaptHealth by 53.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,507 shares of the company’s stock worth $132,000 after purchasing an additional 5,073 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Performance

Shares of AHCO stock opened at $10.13 on Tuesday. The stock’s fifty day simple moving average is $10.10 and its 200 day simple moving average is $8.46. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. AdaptHealth Corp. has a one year low of $6.37 and a one year high of $15.37.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at AdaptHealth

In related news, major shareholder James E. Flynn sold 52,487 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $10.93, for a total transaction of $573,682.91. Following the transaction, the insider now owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder James E. Flynn sold 52,487 shares of the business’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 value of $573,682.91. Following the completion of the transaction, the insider now owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James E. Flynn sold 182,607 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the transaction, the insider now owns 11,643,769 shares in the company, valued at $128,314,334.38. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

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.