Kennedy Capital Management LLC Purchases 685,554 Shares of AdaptHealth Corp. $AHCO

Kennedy Capital Management LLC grew its position in AdaptHealth Corp. (NASDAQ:AHCO) by 48.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,090,138 shares of the company’s stock after purchasing an additional 685,554 shares during the quarter. Kennedy Capital Management LLC’s holdings in AdaptHealth were worth $18,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in AdaptHealth in the 3rd quarter worth $1,171,000. Prospera Financial Services Inc raised its holdings in AdaptHealth by 75.2% during the second quarter. Prospera Financial Services Inc now owns 43,287 shares of the company’s stock valued at $408,000 after acquiring an additional 18,586 shares during the period. Bastion Asset Management Inc. purchased a new position in shares of AdaptHealth in the third quarter valued at about $4,199,000. LSV Asset Management purchased a new position in shares of AdaptHealth in the second quarter valued at about $448,000. Finally, Bailard Inc. boosted its stake in shares of AdaptHealth by 41.6% in the second quarter. Bailard Inc. now owns 42,058 shares of the company’s stock worth $397,000 after acquiring an additional 12,358 shares during the period. 82.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Leerink Partners lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. 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 reiterated an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a 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 given a Sell rating to the company. According to data from MarketBeat, AdaptHealth presently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Insider Buying and Selling

In related news, major shareholder Richard M. Cashin, Jr. acquired 820,528 shares of AdaptHealth stock in a transaction on Tuesday, March 10th. The shares were bought at an average cost of $9.73 per share, with a total value of $7,983,737.44. Following the completion of the purchase, the insider directly owned 14,638,708 shares of the company’s stock, valued at $142,434,628.84. The trade was a 5.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 2,046,691 shares of company stock valued at $19,914,303 in the last ninety days. Company insiders own 1.55% of the company’s stock.

AdaptHealth Price Performance

AHCO traded up $0.60 during trading hours on Friday, hitting $10.35. The company’s stock had a trading volume of 232,281 shares, compared to its average volume of 1,198,588. The business’s 50-day moving average price is $10.08 and its 200-day moving average price is $9.67. AdaptHealth Corp. has a 12 month low of $7.11 and a 12 month high of $11.17. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -18.75, a P/E/G ratio of 1.12 and a beta of 1.76. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15.

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

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.