Everence Capital Management Inc. Makes New Investment in AdaptHealth Corp. (NASDAQ:AHCO)

Everence Capital Management Inc. acquired a new position in AdaptHealth Corp. (NASDAQ:AHCO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,050 shares of the company’s stock, valued at approximately $102,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Deerfield Management Company L.P. Series C lifted its holdings in 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 buying an additional 2,513,026 shares during the period. Vanguard Group Inc. lifted its holdings in AdaptHealth by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,656,553 shares of the company’s stock worth $78,775,000 after buying an additional 355,005 shares during the period. Reinhart Partners LLC. lifted its holdings in AdaptHealth by 12.2% in the 4th quarter. Reinhart Partners LLC. now owns 4,065,695 shares of the company’s stock worth $29,639,000 after buying an additional 443,518 shares during the period. State Street Corp lifted its holdings in AdaptHealth by 70.2% in the 3rd quarter. State Street Corp now owns 2,738,342 shares of the company’s stock worth $51,426,000 after buying an additional 1,129,895 shares during the period. Finally, Bank of America Corp DE lifted its holdings in AdaptHealth by 29.5% in the 1st quarter. Bank of America Corp DE now owns 1,704,854 shares of the company’s stock worth $21,191,000 after buying an additional 388,508 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Down 0.2 %

AHCO stock opened at $9.34 on Friday. AdaptHealth Corp. has a twelve month low of $6.37 and a twelve month high of $15.37. 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 has a market cap of $1.24 billion, a PE ratio of -1.76, a price-to-earnings-growth ratio of 0.62 and a beta of 1.02. The business has a 50 day moving average of $9.82 and a 200 day moving average of $8.38.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.64 earnings per share for the quarter, beating 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 company had revenue of $858.23 million during the quarter, compared to analyst estimates of $825.94 million. On average, research analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth stock in a transaction on Monday, March 11th. The stock was sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth stock in a transaction on Monday, March 11th. The stock was sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the sale, the insider now owns 11,643,769 shares of the company’s stock, valued at $128,314,334.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James E. Flynn sold 52,487 shares of AdaptHealth stock in a transaction on Friday, March 8th. The stock was sold at an average price of $10.93, for a total value of $573,682.91. Following the completion of the sale, the insider now directly owns 11,826,376 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AHCO shares. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Monday, March 4th. Truist Financial raised their target price on AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. UBS Group raised 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. Finally, Jefferies Financial Group cut AdaptHealth from a “buy” rating to a “hold” rating and lowered their target price for the company from $14.50 to $8.00 in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, AdaptHealth presently has an average rating of “Hold” and an average target price of $12.10.

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.