First Eagle Investment Management LLC Cuts Position in AdaptHealth Corp. $AHCO

First Eagle Investment Management LLC reduced its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 729,636 shares of the company’s stock after selling 112,000 shares during the period. First Eagle Investment Management LLC owned about 0.54% of AdaptHealth worth $6,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AHCO. Iron Triangle Partners LP purchased a new position in AdaptHealth during the 1st quarter valued at about $17,496,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in AdaptHealth during the first quarter worth about $4,358,000. Nuveen LLC acquired a new stake in shares of AdaptHealth during the first quarter worth about $3,427,000. Woodline Partners LP purchased a new position in shares of AdaptHealth in the first quarter valued at approximately $2,851,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of AdaptHealth in the first quarter valued at approximately $2,503,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Research lowered AdaptHealth from a “hold” rating to a “strong sell” rating in a research report on Friday, September 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdaptHealth in a report on Wednesday, October 8th. Finally, Wall Street Zen cut AdaptHealth from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.60.

Insider Transactions at AdaptHealth

In other news, Director David Solomon Williams III sold 8,200 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $9.73, for a total transaction of $79,786.00. Following the completion of the transaction, the director directly owned 50,045 shares of the company’s stock, valued at approximately $486,937.85. This represents a 14.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.55% of the stock is owned by company insiders.

AdaptHealth Price Performance

AdaptHealth stock opened at $9.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $9.20 and a 200-day simple moving average of $9.08. The stock has a market cap of $1.29 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.28 and a beta of 1.72. AdaptHealth Corp. has a 12-month low of $7.11 and a 12-month high of $11.63.

AdaptHealth 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.