AdaptHealth Corp. (NASDAQ:AHCO) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its position in AdaptHealth Corp. (NASDAQ:AHCO) by 23.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,893 shares of the company’s stock after purchasing an additional 3,052 shares during the period. Mutual of America Capital Management LLC’s holdings in AdaptHealth were worth $178,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in AdaptHealth in the second quarter worth about $58,000. Blue Trust Inc. bought a new position in AdaptHealth in the second quarter worth about $85,000. Innealta Capital LLC bought a new position in AdaptHealth in the second quarter worth about $101,000. Quest Partners LLC lifted its holdings 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 acquiring an additional 10,140 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in AdaptHealth in the third quarter worth about $122,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $10.03 on Friday. AdaptHealth Corp. has a 12 month low of $6.43 and a 12 month high of $11.90. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -6.08, a PEG ratio of 1.40 and a beta of 1.11. The stock’s 50 day moving average price is $10.36 and its 200 day moving average price is $10.46. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 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 for the quarter, compared to the consensus estimate of $809.32 million. During the same period in the previous year, the firm earned $0.19 EPS. AdaptHealth’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. 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 report on Wednesday, November 6th. Royal Bank of Canada cut their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Truist Financial cut their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Robert W. Baird cut their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group cut their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.67.

Insiders Place Their Bets

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the transaction, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.43% of the stock is currently owned by company insiders.

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.