Vanguard Group Inc. Has $100.93 Million Stock Holdings in AdaptHealth Corp. $AHCO

Key Points

• Vanguard Group trimmed its stake in AdaptHealth by 4.9% in the third quarter, selling 576,086 shares and now owns 11,277,493 shares (about 8.34% of the company) valued at roughly $100.93 million.
• AdaptHealth reported a surprise earnings miss—(-$0.76 EPS vs. $0.34 expected) while revenue of $846.3 million topped estimates, and the company posted a negative net margin of -2.18%.
• Institutional ownership is high at 82.67%, and analysts are mixed: four Buys, one Hold, one Sell, with a consensus rating of "Moderate Buy" and an average price target of $13.25.

Vanguard Group Inc. trimmed its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 4.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,277,493 shares of the company's stock after selling 576,086 shares during the period. Vanguard Group Inc. owned approximately 8.34% of AdaptHealth worth $100,934,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bastion Asset Management Inc. bought a new position in AdaptHealth during the third quarter worth about $4,199,000. Public Sector Pension Investment Board boosted its stake in AdaptHealth by 16.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 418,231 shares of the company's stock valued at $3,743,000 after buying an additional 58,487 shares in the last quarter. Rhumbline Advisers grew its position in AdaptHealth by 3.4% in the third quarter. Rhumbline Advisers now owns 310,236 shares of the company's stock valued at $2,777,000 after acquiring an additional 10,218 shares during the period. Oppenheimer Asset Management Inc. grew its position in AdaptHealth by 98.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 72,870 shares of the company's stock valued at $652,000 after acquiring an additional 36,201 shares during the period. Finally, Optimize Financial Inc acquired a new position in AdaptHealth during the third quarter worth $400,000. Institutional investors own 82.67% of the company's stock.

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $9.67 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $10.14 and a 200 day simple moving average of $9.66. AdaptHealth Corp. has a fifty-two week low of $7.11 and a fifty-two week high of $11.17. The firm has a market cap of $1.31 billion, a P/E ratio of -17.58, a P/E/G ratio of 1.08 and a beta of 1.76.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of $0.34 by ($1.10). The firm had revenue of $846.29 million during the quarter, compared to analyst estimates of $832.51 million. AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The firm's quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. Sell-side analysts predict that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AHCO. Weiss Ratings lowered shares of AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a report on Wednesday, February 25th. Leerink Partners reduced their price target on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Zacks Research raised shares of AdaptHealth from a "strong sell" rating to a "hold" rating in a report on Thursday, January 1st. Wall Street Zen cut shares of AdaptHealth from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $13.00 price target on shares of AdaptHealth in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AdaptHealth currently has an average rating of "Moderate Buy" and a consensus price target of $13.25.

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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