Pacer Advisors Inc. Makes New Investment in AdaptHealth Corp. (NASDAQ:AHCO)

Pacer Advisors Inc. purchased a new stake in AdaptHealth Corp. (NASDAQ:AHCO) in the fourth quarter, Holdings Channel.com reports. The fund purchased 8,011,702 shares of the company’s stock, valued at approximately $76,271,000. Pacer Advisors Inc. owned 0.06% of AdaptHealth as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in AdaptHealth by 25.0% in the second quarter. American Century Companies Inc. now owns 116,122 shares of the company’s stock valued at $1,161,000 after purchasing an additional 23,215 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after buying an additional 710,131 shares in the last quarter. Intech Investment Management LLC acquired a new stake in AdaptHealth in the 2nd quarter valued at about $185,000. Canada Pension Plan Investment Board purchased a new position in AdaptHealth during the 2nd quarter valued at about $58,000. Finally, Sei Investments Co. raised its position in AdaptHealth by 27.8% during the second quarter. Sei Investments Co. now owns 262,475 shares of the company’s stock worth $2,625,000 after acquiring an additional 57,018 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

Analyst Ratings Changes

AHCO has been the topic of several research reports. UBS Group lowered their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird lowered their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada cut their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Canaccord Genuity Group reduced their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Truist Financial dropped their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AdaptHealth presently has an average rating of “Buy” and a consensus target price of $12.40.

AdaptHealth Trading Up 0.7 %

Shares of AHCO opened at $10.33 on Monday. AdaptHealth Corp. has a fifty-two week low of $6.72 and a fifty-two week high of $11.90. The stock has a fifty day moving average of $9.92 and a two-hundred day moving average of $10.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The company has a market capitalization of $1.39 billion, a PE ratio of -6.26, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09.

AdaptHealth (NASDAQ:AHCO) last released its 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 negative net margin of 6.57% and a positive return on equity of 9.62%. The business had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current 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.