Royal Bank of Canada Sells 49,830 Shares of AdaptHealth Corp. $AHCO

Royal Bank of Canada cut its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,841,840 shares of the company's stock after selling 49,830 shares during the period. Royal Bank of Canada owned about 1.37% of AdaptHealth worth $19,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vident Advisory LLC acquired a new position in AdaptHealth during the first quarter worth approximately $163,000. Iron Triangle Partners LP acquired a new position in shares of AdaptHealth during the first quarter worth $17,496,000. State of Wyoming increased its holdings in shares of AdaptHealth by 43.5% during the first quarter. State of Wyoming now owns 43,966 shares of the company's stock worth $477,000 after buying an additional 13,325 shares in the last quarter. Trexquant Investment LP acquired a new stake in AdaptHealth in the first quarter valued at $228,000. Finally, Martingale Asset Management L P acquired a new stake in AdaptHealth during the 1st quarter worth about $350,000. 82.67% of the stock is currently owned by institutional investors.

Insider Activity at AdaptHealth

In related news, Director David Solomon Williams III sold 8,200 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $9.73, for a total transaction of $79,786.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

AdaptHealth Trading Down 2.5%

Shares of NASDAQ:AHCO traded down $0.24 during midday trading on Friday, hitting $9.29. 796,826 shares of the stock traded hands, compared to its average volume of 852,261. The stock has a market capitalization of $1.26 billion, a PE ratio of 17.20, a P/E/G ratio of 1.07 and a beta of 1.59. The business's 50 day moving average is $9.33 and its two-hundred day moving average is $9.25. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.14. AdaptHealth Corp. has a one year low of $7.11 and a one year high of $11.70.

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.