Kennedy Capital Management LLC Increases Stock Holdings in AdaptHealth Corp. $AHCO

Kennedy Capital Management LLC boosted its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 48.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,090,138 shares of the company’s stock after acquiring an additional 685,554 shares during the period. Kennedy Capital Management LLC owned 1.54% of AdaptHealth worth $18,707,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of AdaptHealth by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock valued at $256,000 after purchasing an additional 1,671 shares in the last quarter. CWM LLC lifted its holdings in AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after buying an additional 1,835 shares during the period. Arizona State Retirement System boosted its position in AdaptHealth by 9.3% during the 3rd quarter. Arizona State Retirement System now owns 27,937 shares of the company’s stock valued at $250,000 after acquiring an additional 2,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in AdaptHealth by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock valued at $656,000 after acquiring an additional 2,564 shares in the last quarter. Finally, Vident Advisory LLC boosted its position in AdaptHealth by 17.9% during the 2nd quarter. Vident Advisory LLC now owns 17,737 shares of the company’s stock valued at $167,000 after acquiring an additional 2,694 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, February 25th. Wall Street Zen lowered shares of AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Leerink Partners lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings downgraded shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and an average price target of $13.25.

AdaptHealth Stock Performance

AHCO stock traded up $0.60 during midday trading on Friday, reaching $10.35. 232,281 shares of the company’s stock traded hands, compared to its average volume of 1,198,588. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15. AdaptHealth Corp. has a 52-week low of $7.11 and a 52-week high of $11.17. The stock has a market cap of $1.41 billion, a P/E ratio of -18.75, a PEG ratio of 1.12 and a beta of 1.76. The stock’s 50-day moving average is $10.08 and its 200 day moving average is $9.67.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($1.10). The business had revenue of $846.29 million for the quarter, compared to analysts’ expectations of $832.51 million. AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Richard M. Cashin, Jr. purchased 820,528 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $9.73 per share, with a total value of $7,983,737.44. Following the completion of the acquisition, the insider owned 14,638,708 shares of the company’s stock, valued at approximately $142,434,628.84. This trade represents a 5.94% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired 2,046,691 shares of company stock worth $19,914,303 in the last quarter. 1.55% of the stock is currently owned by insiders.

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.