Handelsbanken Fonder AB Cuts Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Handelsbanken Fonder AB lessened its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,700 shares of the company’s stock after selling 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in AdaptHealth were worth $122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in AdaptHealth during the third quarter valued at $350,000. Simplicity Solutions LLC bought a new position in shares of AdaptHealth during the 3rd quarter valued at about $315,000. Commonwealth Equity Services LLC grew its position in shares of AdaptHealth by 28.6% during the third quarter. Commonwealth Equity Services LLC now owns 41,482 shares of the company’s stock valued at $377,000 after purchasing an additional 9,214 shares in the last quarter. Raymond James & Associates bought a new stake in shares of AdaptHealth in the third quarter worth about $101,000. Finally, Bank of New York Mellon Corp lifted its position in shares of AdaptHealth by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 653,060 shares of the company’s stock worth $5,943,000 after buying an additional 25,963 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

AHCO has been the subject of several research analyst reports. Truist Financial lifted their price objective on AdaptHealth from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. UBS Group boosted their price target on shares of AdaptHealth from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. 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 report on Monday, January 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, AdaptHealth has a consensus rating of “Hold” and an average target price of $12.10.

AdaptHealth Trading Down 0.9 %

AHCO stock opened at $10.26 on Friday. AdaptHealth Corp. has a twelve month low of $6.37 and a twelve month high of $15.37. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -1.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. The firm’s fifty day simple moving average is $10.27 and its two-hundred day simple moving average is $8.50.

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

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.