AdaptHealth Corp. $AHCO Shares Purchased by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC increased its AdaptHealth stake by 10.6% in the fourth quarter, buying 773,727 more shares and ending with 8.1 million shares valued at about $80.7 million.
• AdaptHealth shares were down 2.8% to $9.65, and the stock remains well below its 52-week high of $13.43. The company’s market cap is about $1.31 billion.
• The company missed earnings expectations in its latest quarterly report, posting EPS of -$0.12 versus a $0.01 estimate, though revenue came in ahead of forecasts at $819.8 million and rose 5.4% year over year.

Reinhart Partners LLC. lifted its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,100,785 shares of the company's stock after purchasing an additional 773,727 shares during the quarter. AdaptHealth makes up 2.4% of Reinhart Partners LLC.'s investment portfolio, making the stock its 22nd biggest holding. Reinhart Partners LLC. owned about 5.98% of AdaptHealth worth $80,684,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of AdaptHealth by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 11,768,599 shares of the company's stock valued at $117,215,000 after purchasing an additional 491,106 shares during the period. Deerfield Management Company L.P. boosted its position in shares of AdaptHealth by 15.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company's stock valued at $102,726,000 after purchasing an additional 1,572,835 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AdaptHealth by 15.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,982,070 shares of the company's stock valued at $53,537,000 after purchasing an additional 809,459 shares during the period. Geode Capital Management LLC lifted its position in AdaptHealth by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,627,306 shares of the company's stock worth $26,173,000 after acquiring an additional 19,998 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in AdaptHealth by 48.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 2,090,138 shares of the company's stock worth $18,707,000 after acquiring an additional 685,554 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Stock Down 2.8%

AdaptHealth stock opened at $9.65 on Wednesday. AdaptHealth Corp. has a twelve month low of $8.06 and a twelve month high of $13.43. The stock has a 50 day moving average of $11.58 and a two-hundred day moving average of $10.55. The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -15.56, a PEG ratio of 0.57 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). The business had revenue of $819.80 million during the quarter, compared to analyst estimates of $796.63 million. AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. As a group, research analysts expect that AdaptHealth Corp. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen raised AdaptHealth from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Truist Financial increased their price objective on AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Royal Bank Of Canada increased their price objective on AdaptHealth from $13.00 to $15.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AdaptHealth in a research report on Friday, May 22nd. Finally, Leerink Partners decreased their price objective on AdaptHealth from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AdaptHealth has an average rating of "Moderate Buy" and a consensus price target of $14.29.

Insider Activity at AdaptHealth

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of AdaptHealth stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $9.91 per share, with a total value of $4,430,761.00. Following the acquisition, the insider directly owned 16,312,698 shares of the company's stock, valued at $161,658,837.18. This represents a 2.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 2,494,518 shares of company stock valued at $24,352,291. 1.95% of the stock is owned by company insiders.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company's respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.

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