Paradigm Capital Management Inc. NY Makes New Investment in AdaptHealth Corp. $AHCO

Paradigm Capital Management Inc. NY bought a new stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 121,214 shares of the company’s stock, valued at approximately $1,263,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Kennedy Capital Management LLC raised its holdings in AdaptHealth by 15.2% during the 4th quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company’s stock worth $23,984,000 after buying an additional 317,900 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of AdaptHealth by 87.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company’s stock valued at $10,080,000 after buying an additional 395,668 shares during the period. Reinhart Partners LLC. boosted its position in AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after purchasing an additional 773,727 shares during the last quarter. Principal Financial Group Inc. grew its stake in AdaptHealth by 25.1% in the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock valued at $33,133,000 after purchasing an additional 558,357 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of AdaptHealth by 35.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company’s stock valued at $19,867,000 after buying an additional 432,664 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on AHCO. Canaccord Genuity Group set a $10.00 target price on shares of AdaptHealth in a research report on Wednesday, August 5th. Jefferies Financial Group upgraded AdaptHealth from a “hold” rating to a “buy” rating and increased their price target for the company from $11.00 to $13.00 in a report on Tuesday, July 21st. Wall Street Zen lowered shares of AdaptHealth from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Royal Bank Of Canada dropped their price target on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Finally, UBS Group decreased their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Seven 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 stock. According to MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.29.

Insider Transactions at AdaptHealth

In related news, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the completion of the sale, the insider owned 136,538 shares in the company, valued at $1,373,572.28. This trade represents a 7.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth A. Samet acquired 23,500 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $6.38 per share, with a total value of $149,930.00. Following the acquisition, the director owned 48,569 shares of the company’s stock, valued at approximately $309,870.22. This represents a 93.74% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.95% of the company’s stock.

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $5.63 on Tuesday. The firm has a market capitalization of $767.59 million, a PE ratio of -3.29, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. The company’s fifty day moving average price is $9.03 and its two-hundred day moving average price is $10.21. AdaptHealth Corp. has a 52-week low of $5.21 and a 52-week high of $13.43. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.12 and a quick ratio of 0.98.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.16). AdaptHealth had a positive return on equity of 3.36% and a negative net margin of 7.07%.The business had revenue of $740.31 million for the quarter, compared to the consensus estimate of $846.77 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, analysts expect that AdaptHealth Corp. will post 0.44 EPS for the current 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.