Handelsbanken Fonder AB Trims Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Handelsbanken Fonder AB reduced its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,700 shares of the company’s stock after selling 2,500 shares during the period. Handelsbanken Fonder AB’s holdings in AdaptHealth were worth $122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C increased its stake in AdaptHealth by 22.7% during the third quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock worth $123,832,000 after purchasing an additional 2,513,026 shares during the period. Vanguard Group Inc. increased its stake in AdaptHealth by 4.3% during the third quarter. Vanguard Group Inc. now owns 8,656,553 shares of the company’s stock worth $78,775,000 after purchasing an additional 355,005 shares during the period. Reinhart Partners LLC. increased its stake in AdaptHealth by 12.2% during the fourth quarter. Reinhart Partners LLC. now owns 4,065,695 shares of the company’s stock worth $29,639,000 after purchasing an additional 443,518 shares during the period. Kennedy Capital Management LLC increased its stake in AdaptHealth by 149.3% during the third quarter. Kennedy Capital Management LLC now owns 1,483,640 shares of the company’s stock worth $13,501,000 after purchasing an additional 888,504 shares during the period. Finally, LGT Capital Partners LTD. increased its stake in AdaptHealth by 79.4% during the fourth quarter. LGT Capital Partners LTD. now owns 1,000,000 shares of the company’s stock worth $7,290,000 after purchasing an additional 442,500 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at AdaptHealth

In related news, major shareholder James E. Flynn sold 52,487 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was 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 directly owns 11,826,376 shares of the company’s stock, valued at $129,262,289.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder James E. Flynn sold 52,487 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $10.93, for a total value of $573,682.91. Following the completion of the sale, the insider now directly owns 11,826,376 shares of the company’s stock, valued at $129,262,289.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder James E. Flynn sold 182,607 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 currently owned by corporate insiders.

AdaptHealth Stock Performance

Shares of AHCO opened at $10.26 on Friday. The stock has a 50 day moving average price of $10.27 and a 200 day moving average price of $8.50. 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 company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -1.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.06. AdaptHealth Corp. has a 52-week low of $6.37 and a 52-week high of $15.37.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The firm 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%. Research analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

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.