Paradigm Capital Management Inc. NY Purchases New Position in AdaptHealth Corp. $AHCO

Paradigm Capital Management Inc. NY bought a new stake in AdaptHealth Corp. (NASDAQ:AHCO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 121,214 shares of the company’s stock, valued at approximately $1,263,000. Paradigm Capital Management Inc. NY owned about 0.09% of AdaptHealth as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its holdings in shares of AdaptHealth by 433.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after buying an additional 2,100 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after buying an additional 1,279 shares during the period. Assetmark Inc. lifted its holdings in AdaptHealth by 54.8% in the first quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock valued at $83,000 after acquiring an additional 2,460 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after purchasing an additional 7,297 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of AdaptHealth during the 2nd quarter valued at approximately $96,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AHCO shares. Truist Financial cut their price target on AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Robert W. Baird set a $10.00 price target on AdaptHealth in a research note on Wednesday, August 5th. UBS Group cut their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Canaccord Genuity Group set a $10.00 target price on AdaptHealth in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a research report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.29.

Insider Transactions at AdaptHealth

In related news, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the sale, the insider owned 136,538 shares in the company, valued at $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth A. Samet purchased 23,500 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $6.38 per share, for a total transaction of $149,930.00. Following the completion of the transaction, the director directly owned 48,569 shares in the company, valued at approximately $309,870.22. This trade represents a 93.74% increase in their position. The SEC filing for this purchase provides additional information. 1.95% of the stock is owned by corporate insiders.

AdaptHealth Price Performance

Shares of AHCO stock opened at $5.63 on Tuesday. The firm has a market cap of $767.59 million, a P/E ratio of -3.29, a P/E/G ratio of 0.29 and a beta of 1.47. AdaptHealth Corp. has a 1-year low of $5.21 and a 1-year high of $13.43. The firm has a fifty day moving average of $9.03 and a two-hundred day moving average of $10.21. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.12 and a quick ratio of 0.98.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.16). AdaptHealth had a negative net margin of 7.07% and a positive return on equity of 3.36%. The firm had revenue of $740.31 million for the quarter, compared to analyst estimates of $846.77 million. During the same quarter in the previous year, the company earned $0.10 EPS. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, research analysts anticipate that AdaptHealth Corp. will post 0.44 earnings per share for the current fiscal year.

About AdaptHealth

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.