Royal Bank of Canada Reduces Stock Holdings in AdaptHealth Corp. $AHCO

Royal Bank of Canada trimmed its position in AdaptHealth Corp. (NASDAQ:AHCO) by 14.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,467,992 shares of the company’s stock after selling 251,360 shares during the period. Royal Bank of Canada’s holdings in AdaptHealth were worth $17,469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its stake in AdaptHealth by 386.3% during the fourth quarter. SG Americas Securities LLC now owns 78,141 shares of the company’s stock worth $778,000 after acquiring an additional 62,073 shares during the last quarter. Reinhart Partners LLC. increased its position in shares of AdaptHealth by 10.6% during the 4th quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock worth $80,684,000 after purchasing an additional 773,727 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in AdaptHealth by 15.2% in the 4th quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company’s stock valued at $23,984,000 after buying an additional 317,900 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in AdaptHealth by 87.7% in the first 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 last quarter. Finally, Principal Financial Group Inc. lifted its position 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 buying an additional 558,357 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Stock Down 6.8%

Shares of NASDAQ:AHCO opened at $6.05 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.12 and a quick ratio of 0.71. The firm has a market capitalization of $822.26 million, a PE ratio of -3.54, a price-to-earnings-growth ratio of 0.33 and a beta of 1.47. The firm’s 50-day moving average is $10.05 and its two-hundred day moving average is $10.59. AdaptHealth Corp. has a 1 year low of $5.89 and a 1 year high of $13.43.

Insider Activity at AdaptHealth

In related news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the transaction, the insider owned 136,538 shares in the company, valued at approximately $1,373,572.28. The trade was a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.95% of the company’s stock.

Analyst Ratings Changes

AHCO has been the subject of a number of recent analyst reports. Canaccord Genuity Group set a $10.00 price target on shares of AdaptHealth in a research report on Wednesday. Royal Bank Of Canada lowered their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday. Jefferies Financial Group upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a report on Tuesday, July 21st. Robert W. Baird set a $10.00 target price on AdaptHealth in a research report on Wednesday. Finally, UBS Group decreased their price target on AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.29.

AdaptHealth Profile

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.