Oppenheimer Asset Management Inc. Has $208,000 Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Oppenheimer Asset Management Inc. raised its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 49.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,783 shares of the company’s stock after buying an additional 6,879 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AdaptHealth were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of AdaptHealth by 8.9% in the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in shares of AdaptHealth by 1.4% in the 2nd quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after buying an additional 59,092 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of AdaptHealth by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock valued at $7,589,000 after buying an additional 183,135 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in AdaptHealth by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 746,211 shares of the company’s stock worth $7,462,000 after buying an additional 20,599 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in AdaptHealth by 18.2% during the first quarter. First Eagle Investment Management LLC now owns 594,951 shares of the company’s stock worth $6,848,000 after acquiring an additional 91,772 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the sale, the director now directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.70.

AdaptHealth Stock Down 0.4 %

AHCO opened at $11.25 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock’s fifty day simple moving average is $10.76 and its 200 day simple moving average is $10.44. AdaptHealth Corp. has a 1-year low of $6.37 and a 1-year high of $11.90. The stock has a market cap of $1.50 billion, a PE ratio of -2.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $805.98 million for the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. As a group, research analysts expect that AdaptHealth Corp. will post 0.87 earnings per share for the current 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.