AdaptHealth Corp. (NASDAQ:AHCO) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 672.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 705,125 shares of the company’s stock after purchasing an additional 613,882 shares during the period. Federated Hermes Inc.’s holdings in AdaptHealth were worth $5,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Deerfield Management Company L.P. Series C raised its stake in AdaptHealth by 22.7% in the third quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock valued at $123,832,000 after buying an additional 2,513,026 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of AdaptHealth by 88.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 410,366 shares of the company’s stock worth $3,734,000 after acquiring an additional 192,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AdaptHealth by 24.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 857,812 shares of the company’s stock worth $7,806,000 after purchasing an additional 170,923 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in AdaptHealth in the third quarter valued at approximately $809,000. Finally, Reinhart Partners LLC. increased its stake in AdaptHealth by 12.2% in the fourth quarter. Reinhart Partners LLC. now owns 4,065,695 shares of the company’s stock valued at $29,639,000 after purchasing an additional 443,518 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $9.58 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.00 and a current ratio of 1.21. AdaptHealth Corp. has a one year low of $6.37 and a one year high of $15.37. The company has a 50-day simple moving average of $10.00 and a 200-day simple moving average of $8.42. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -1.80, a PEG ratio of 0.64 and a beta of 1.02.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.64 EPS for the quarter, beating 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 firm had revenue of $858.23 million during the quarter, compared to the consensus estimate of $825.94 million. On average, analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current year.

Insider Transactions at AdaptHealth

In related news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth 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 in the company, valued at approximately $128,314,334.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth 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 sale, the insider now directly owns 11,643,769 shares in the company, valued at $128,314,334.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder James E. Flynn sold 52,487 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $10.93, for a total transaction of $573,682.91. Following the transaction, the insider now directly owns 11,826,376 shares in the company, valued at $129,262,289.68. 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.