Reinhart Partners LLC. Raises Position in AdaptHealth Corp. $AHCO

Key Points

• Reinhart Partners LLC increased its stake in AdaptHealth Corp. by 1.1%, owning a total of 7,312,626 shares valued at approximately $68.96 million.
• Wall Street analysts have upgraded AdaptHealth's rating from "hold" to "buy," with a consensus price target of $13.40.
• Insider selling occurred when Director David Solomon Williams III sold 8,200 shares at an average price of $9.73, reducing their ownership by 14.08%.

Reinhart Partners LLC. increased its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,312,626 shares of the company's stock after buying an additional 76,364 shares during the period. AdaptHealth accounts for about 2.4% of Reinhart Partners LLC.'s holdings, making the stock its 17th largest holding. Reinhart Partners LLC. owned 5.42% of AdaptHealth worth $68,958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AHCO. SummerHaven Investment Management LLC boosted its stake in AdaptHealth by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 79,883 shares of the company's stock valued at $866,000 after purchasing an additional 1,329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AdaptHealth by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,931 shares of the company's stock worth $552,000 after buying an additional 1,999 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in AdaptHealth by 6.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock valued at $356,000 after purchasing an additional 2,081 shares in the last quarter. New York State Teachers Retirement System lifted its position in AdaptHealth by 3.3% during the first quarter. New York State Teachers Retirement System now owns 80,455 shares of the company's stock valued at $872,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Humankind Investments LLC lifted its position in AdaptHealth by 15.5% during the first quarter. Humankind Investments LLC now owns 20,770 shares of the company's stock valued at $225,000 after purchasing an additional 2,791 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Stock Down 3.6%

AdaptHealth stock traded down $0.33 during mid-day trading on Friday, reaching $8.89. 2,662,961 shares of the company were exchanged, compared to its average volume of 942,697. The business has a fifty day moving average of $9.31 and a 200 day moving average of $9.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.06. The firm has a market cap of $1.20 billion, a P/E ratio of 16.46, a PEG ratio of 0.99 and a beta of 1.59. AdaptHealth Corp. has a 12-month low of $7.11 and a 12-month high of $11.63.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded AdaptHealth from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AdaptHealth has an average rating of "Buy" and an average target price of $13.40.

Insiders Place Their Bets

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of the company's stock in a transaction on 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 sale, the director owned 50,045 shares in the company, valued at $486,937.85. This represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is currently owned by corporate 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.