AdaptHealth Corp. (NASDAQ:AHCO) Stock Position Raised by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,760 shares of the company’s stock after acquiring an additional 2,376 shares during the period. Mackenzie Financial Corp’s holdings in AdaptHealth were worth $173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C lifted its holdings in shares of AdaptHealth by 22.7% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock worth $123,832,000 after purchasing an additional 2,513,026 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of AdaptHealth by 149.3% during the third quarter. Kennedy Capital Management LLC now owns 1,483,640 shares of the company’s stock valued at $13,501,000 after acquiring an additional 888,504 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of AdaptHealth during the third quarter worth about $5,751,000. Reinhart Partners LLC. increased its holdings in shares of AdaptHealth by 18.7% in the 3rd quarter. Reinhart Partners LLC. now owns 3,622,177 shares of the company’s stock worth $32,962,000 after acquiring an additional 570,497 shares during the period. Finally, LGT Capital Partners LTD. lifted its position in AdaptHealth by 79.4% in the 4th quarter. LGT Capital Partners LTD. now owns 1,000,000 shares of the company’s stock valued at $7,290,000 after purchasing an additional 442,500 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on AHCO shares. Truist Financial upped their target price on shares of AdaptHealth from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. UBS Group lifted their target price on AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Monday, March 4th. Finally, Jefferies Financial Group lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and lowered their price objective for the company from $14.50 to $8.00 in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.10.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $11.02, for a total transaction of $2,012,329.14. Following the transaction, the insider now owns 11,643,769 shares of the company’s stock, valued at approximately $128,314,334.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $11.02, for a total transaction of $2,012,329.14. Following the completion of the sale, the insider now directly owns 11,643,769 shares in the company, valued at approximately $128,314,334.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder James E. Flynn sold 52,487 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $10.93, for a total transaction of $573,682.91. Following the transaction, the insider now directly owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

AdaptHealth Stock Performance

Shares of AHCO opened at $10.13 on Tuesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of -1.91, a P/E/G ratio of 0.65 and a beta of 1.02. AdaptHealth Corp. has a 12-month low of $6.37 and a 12-month high of $15.37. The firm’s 50 day moving average is $10.10 and its 200-day moving average is $8.46. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.00.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. AdaptHealth had a positive return on equity of 8.84% and a negative net margin of 21.21%. The business had revenue of $858.23 million for the quarter, compared to analysts’ expectations of $825.94 million. Equities research analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

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.