State Board of Administration of Florida Retirement System Has $272,000 Stake in AdaptHealth Corp. (NASDAQ:AHCO)

State Board of Administration of Florida Retirement System grew its stake in AdaptHealth Corp. (NASDAQ:AHCO – Get Rating) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,166 shares of the company’s stock after purchasing an additional 990 shares during the period. State Board of Administration of Florida Retirement System’s holdings in AdaptHealth were worth $272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AHCO. BlackRock Inc. grew its position in AdaptHealth by 122.7% in the 3rd quarter. BlackRock Inc. now owns 11,922,007 shares of the company’s stock worth $223,897,000 after purchasing an additional 6,568,394 shares during the last quarter. State Street Corp lifted its holdings in shares of AdaptHealth by 70.2% during the 3rd quarter. State Street Corp now owns 2,738,342 shares of the company’s stock worth $51,426,000 after acquiring an additional 1,129,895 shares during the period. Vanguard Group Inc. lifted its holdings in shares of AdaptHealth by 15.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,795,250 shares of the company’s stock worth $146,396,000 after acquiring an additional 1,053,942 shares during the period. Royal Bank of Canada lifted its holdings in shares of AdaptHealth by 1,172.2% during the 3rd quarter. Royal Bank of Canada now owns 912,847 shares of the company’s stock worth $17,145,000 after acquiring an additional 841,095 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AdaptHealth by 144.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 698,714 shares of the company’s stock worth $13,123,000 after acquiring an additional 413,014 shares during the period. 86.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AHCO shares. TheStreet downgraded shares of AdaptHealth from a “c-” rating to a “d+” rating in a report on Thursday, April 6th. Royal Bank of Canada reduced their price objective on shares of AdaptHealth from $24.00 to $18.00 in a report on Thursday, May 11th. Truist Financial cut their price target on shares of AdaptHealth from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, April 13th. Robert W. Baird cut their price target on shares of AdaptHealth from $23.00 to $20.00 in a report on Wednesday, May 10th. Finally, SVB Securities cut their price target on shares of AdaptHealth from $30.00 to $23.00 in a report on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, AdaptHealth currently has an average rating of “Moderate Buy” and an average price target of $18.92.

AdaptHealth Trading Down 0.5 %

AHCO stock opened at $11.04 on Monday. The company has a market capitalization of $1.48 billion, a PE ratio of 92.00, a price-to-earnings-growth ratio of 0.84 and a beta of 0.66. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.23. AdaptHealth Corp. has a 52 week low of $10.00 and a 52 week high of $27.48. The company’s 50-day simple moving average is $12.20 and its 200 day simple moving average is $17.56.

AdaptHealth (NASDAQ:AHCO – Get Rating) last posted its earnings results on Monday, February 27th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The company had revenue of $780.28 million during the quarter, compared to the consensus estimate of $787.96 million. AdaptHealth had a return on equity of 3.17% and a net margin of 1.44%. As a group, sell-side analysts anticipate that AdaptHealth Corp. will post 0.68 earnings per share for the current year.

AdaptHealth Profile

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AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.