Oppenheimer Asset Management Inc. Raises Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Oppenheimer Asset Management Inc. boosted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,814 shares of the company’s stock after acquiring an additional 7,031 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AdaptHealth were worth $312,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AHCO. Covestor Ltd boosted its stake in shares of AdaptHealth by 279.6% during the first quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after purchasing an additional 2,290 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of AdaptHealth during the second quarter worth approximately $58,000. Blue Trust Inc. bought a new stake in shares of AdaptHealth during the second quarter valued at approximately $85,000. Innealta Capital LLC purchased a new stake in shares of AdaptHealth in the second quarter valued at approximately $101,000. Finally, Quest Partners LLC grew its stake in AdaptHealth by 11,522.7% in the second quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock worth $102,000 after purchasing an additional 10,140 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

Insider Activity at AdaptHealth

In other news, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The trade was a 10.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the transaction, the director now owns 36,899 shares of the company’s stock, valued at $415,482.74. This trade represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by corporate insiders.

AdaptHealth Stock Down 0.2 %

NASDAQ:AHCO opened at $9.72 on Thursday. The company’s 50-day simple moving average is $10.53 and its 200-day simple moving average is $10.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. AdaptHealth Corp. has a fifty-two week low of $6.43 and a fifty-two week high of $11.90. The stock has a market capitalization of $1.31 billion, a P/E ratio of -5.89, a P/E/G ratio of 1.34 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. During the same period in the prior year, the firm posted $0.19 earnings per share. AdaptHealth’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts anticipate that AdaptHealth Corp. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AHCO. Robert W. Baird decreased their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada lowered their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday. Canaccord Genuity Group cut their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. UBS Group lowered their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

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.