Foundry Partners LLC Acquires 284,612 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Foundry Partners LLC lifted its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 60.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 755,207 shares of the company’s stock after purchasing an additional 284,612 shares during the period. Foundry Partners LLC owned 0.56% of AdaptHealth worth $8,481,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in AdaptHealth by 8.9% in the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after buying an additional 818,241 shares in the last quarter. Reinhart Partners LLC. increased its holdings in AdaptHealth by 45.2% in the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after acquiring an additional 1,929,339 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in AdaptHealth by 15.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,701,808 shares of the company’s stock worth $41,571,000 after acquiring an additional 496,453 shares during the period. Dimensional Fund Advisors LP raised its stake in AdaptHealth by 43.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after acquiring an additional 710,131 shares during the period. Finally, Divisadero Street Capital Management LP lifted its holdings in AdaptHealth by 179.7% during the second quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock valued at $11,616,000 after purchasing an additional 746,340 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AHCO has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Royal Bank of Canada lowered their price objective on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday. Canaccord Genuity Group dropped their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Truist Financial lowered their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Robert W. Baird cut their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

AdaptHealth Stock Performance

AHCO stock opened at $9.72 on Thursday. AdaptHealth Corp. has a 52 week low of $6.43 and a 52 week high of $11.90. The company has a fifty day simple moving average of $10.53 and a two-hundred day simple moving average of $10.45. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. During the same quarter in the prior year, the business posted $0.19 EPS. The company’s revenue was up .2% on a year-over-year basis. Research analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the sale, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. This represents a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their position. The disclosure for this sale can be found here. 4.43% of the stock is owned by insiders.

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.