Mackenzie Financial Corp Acquires 2,376 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Mackenzie Financial Corp increased its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,760 shares of the company’s stock after acquiring an additional 2,376 shares during the period. Mackenzie Financial Corp’s holdings in AdaptHealth were worth $173,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in AdaptHealth during the third quarter worth $350,000. Oak Thistle LLC bought a new stake in AdaptHealth during the third quarter worth $94,000. Simplicity Solutions LLC bought a new position in AdaptHealth in the third quarter valued at about $315,000. Commonwealth Equity Services LLC lifted its holdings in shares of AdaptHealth by 28.6% in the third quarter. Commonwealth Equity Services LLC now owns 41,482 shares of the company’s stock worth $377,000 after acquiring an additional 9,214 shares during the last quarter. Finally, Raymond James & Associates acquired a new stake in shares of AdaptHealth in the 3rd quarter valued at approximately $101,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $10.13 on Tuesday. The business has a 50-day moving average price of $10.10 and a two-hundred day moving average price of $8.46. AdaptHealth Corp. has a 1-year low of $6.37 and a 1-year high of $15.37. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.44. The company has a market cap of $1.35 billion, a P/E ratio of -1.91, a PEG ratio of 0.65 and a beta of 1.02.

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

Wall Street Analyst Weigh In

AHCO has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of AdaptHealth from $11.00 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 target price on shares of AdaptHealth in a research report on Monday, March 4th. UBS Group raised their price objective on shares of AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Jefferies Financial Group downgraded shares of AdaptHealth from a “buy” rating to a “hold” rating and cut their target price for the stock from $14.50 to $8.00 in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, AdaptHealth has an average rating of “Hold” and a consensus target price of $12.10.

Insider Transactions at AdaptHealth

In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 11,643,769 shares in the company, valued at $128,314,334.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of the firm’s 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 transaction, the insider now directly owns 11,643,769 shares of the company’s stock, valued at $128,314,334.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James E. Flynn sold 52,487 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $10.93, for a total transaction of $573,682.91. Following the sale, the insider now directly owns 11,826,376 shares of the company’s stock, valued at $129,262,289.68. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

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.