Royal Bank of Canada Has $19.97 Million Stock Position in AdaptHealth Corp. $AHCO

Royal Bank of Canada cut its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841,840 shares of the company's stock after selling 49,830 shares during the quarter. Royal Bank of Canada owned approximately 1.37% of AdaptHealth worth $19,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AHCO. Raymond James Financial Inc. bought a new stake in AdaptHealth during the 4th quarter worth about $197,000. Price T Rowe Associates Inc. MD lifted its position in AdaptHealth by 16.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,990 shares of the company's stock worth $705,000 after buying an additional 10,451 shares in the last quarter. Northern Trust Corp lifted its position in AdaptHealth by 11.1% during the 4th quarter. Northern Trust Corp now owns 1,172,265 shares of the company's stock worth $11,160,000 after buying an additional 116,981 shares in the last quarter. Ameriprise Financial Inc. lifted its position in AdaptHealth by 11.7% during the 4th quarter. Ameriprise Financial Inc. now owns 627,998 shares of the company's stock worth $5,979,000 after buying an additional 65,606 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in AdaptHealth during the 4th quarter worth about $229,000. 82.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David Solomon Williams III sold 8,200 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director owned 50,045 shares in the company, valued at approximately $486,937.85. This represents a 14.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.55% of the company's stock.

Analyst Ratings Changes

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

AdaptHealth Stock Performance

AHCO traded down $0.11 on Friday, reaching $9.43. The company had a trading volume of 295,357 shares, compared to its average volume of 1,387,163. AdaptHealth Corp. has a fifty-two week low of $7.11 and a fifty-two week high of $11.70. The stock has a market cap of $1.28 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.02 and a beta of 1.59. The company's fifty day moving average is $9.33 and its 200 day moving average is $9.27. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.06.

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.