Royce & Associates LP Cuts Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Key Points

• Royce & Associates LP reduced its stake in AdaptHealth Corp. by 3.7%, now owning approximately 0.72% of the company, worth $10,472,000.
• AdaptHealth's stock has a market capitalization of $1.27 billion and is currently priced at $9.44, marking a 2.4% increase.
• Several analysts have adjusted their target price for AdaptHealth, with Royal Bank of Canada and Truist Financial both lowering their targets from $14.00 to $13.00, while maintaining a "buy" rating.

Royce & Associates LP lowered its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 966,075 shares of the company's stock after selling 36,680 shares during the period. Royce & Associates LP owned 0.72% of AdaptHealth worth $10,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Reinhart Partners LLC. boosted its stake in AdaptHealth by 15.5% during the 1st quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company's stock valued at $78,441,000 after purchasing an additional 969,408 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AdaptHealth by 17.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,379,715 shares of the company's stock valued at $32,174,000 after buying an additional 505,180 shares during the period. Palisade Capital Management LP lifted its holdings in shares of AdaptHealth by 12.3% during the 1st quarter. Palisade Capital Management LP now owns 2,711,142 shares of the company's stock valued at $29,389,000 after buying an additional 297,268 shares during the period. Geode Capital Management LLC lifted its holdings in shares of AdaptHealth by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,467,769 shares of the company's stock valued at $23,499,000 after buying an additional 16,596 shares during the period. Finally, Kennedy Capital Management LLC lifted its holdings in shares of AdaptHealth by 6.0% during the 4th quarter. Kennedy Capital Management LLC now owns 1,767,310 shares of the company's stock valued at $16,825,000 after buying an additional 99,326 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Price Performance

NASDAQ:AHCO traded down $0.22 on Tuesday, reaching $9.37. 151,562 shares of the company's stock traded hands, compared to its average volume of 1,451,726. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.25. The stock has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $9.37. The firm has a market cap of $1.26 billion, a PE ratio of 16.50, a P/E/G ratio of 0.91 and a beta of 1.63. AdaptHealth Corp. has a 12 month low of $7.11 and a 12 month high of $11.73.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial lowered their price target on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Royal Bank Of Canada lowered their price target on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $13.40.

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.