Intech Investment Management LLC Has $670,000 Position in AdaptHealth Corp. (NASDAQ:AHCO)

Intech Investment Management LLC boosted its position in AdaptHealth Corp. (NASDAQ:AHCO) by 223.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,650 shares of the company’s stock after acquiring an additional 41,196 shares during the period. Intech Investment Management LLC’s holdings in AdaptHealth were worth $670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AHCO. Canada Pension Plan Investment Board bought a new position in shares of AdaptHealth in the 2nd quarter worth $58,000. Blue Trust Inc. bought a new stake in shares of AdaptHealth in the 2nd quarter valued at $85,000. Innealta Capital LLC bought a new stake in shares of AdaptHealth in the 2nd quarter valued at $101,000. Quest Partners LLC raised its stake in AdaptHealth by 11,522.7% during the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock worth $102,000 after buying an additional 10,140 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of AdaptHealth during the second quarter worth about $113,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AHCO shares. Royal Bank of Canada dropped their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. UBS Group lowered their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Truist Financial cut their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. Canaccord Genuity Group reduced their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Robert W. Baird dropped their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AdaptHealth currently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

AdaptHealth Stock Up 0.4 %

Shares of NASDAQ:AHCO opened at $10.03 on Friday. The business’s 50 day simple moving average is $10.36 and its two-hundred day simple moving average is $10.46. AdaptHealth Corp. has a 52-week low of $6.43 and a 52-week high of $11.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The firm has a market cap of $1.35 billion, a P/E ratio of -6.08, a PEG ratio of 1.40 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $805.90 million for the quarter, compared to the consensus estimate of $809.32 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Activity at AdaptHealth

In related news, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the transaction, the chief operating officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.43% of the stock is currently owned by insiders.

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.