First Eagle Investment Management LLC Reduces Holdings in AdaptHealth Corp. $AHCO

First Eagle Investment Management LLC reduced its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,636 shares of the company’s stock after selling 112,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in AdaptHealth were worth $6,880,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Reinhart Partners LLC. grew its holdings in shares of AdaptHealth by 1.1% during the second quarter. Reinhart Partners LLC. now owns 7,312,626 shares of the company’s stock worth $68,958,000 after purchasing an additional 76,364 shares during the last quarter. Iron Triangle Partners LP acquired a new stake in shares of AdaptHealth in the 1st quarter valued at about $17,496,000. Charles Schwab Investment Management Inc. grew its stake in AdaptHealth by 14.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company’s stock worth $14,110,000 after buying an additional 163,272 shares during the last quarter. New York State Common Retirement Fund grew its stake in AdaptHealth by 10.3% during the 1st quarter. New York State Common Retirement Fund now owns 836,773 shares of the company’s stock worth $9,071,000 after buying an additional 78,211 shares during the last quarter. Finally, Foundry Partners LLC increased its position in AdaptHealth by 1.4% during the first quarter. Foundry Partners LLC now owns 815,036 shares of the company’s stock worth $8,835,000 after buying an additional 11,025 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Stock Performance

NASDAQ:AHCO opened at $9.50 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.28 and a beta of 1.72. The firm’s fifty day moving average price is $9.20 and its 200 day moving average price is $9.08. AdaptHealth Corp. has a 1-year low of $7.11 and a 1-year high of $11.63.

Insider Activity

In related news, Director David Solomon Williams III sold 8,200 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $9.73, for a total transaction of $79,786.00. Following the completion of the transaction, the director directly owned 50,045 shares of the company’s stock, valued at $486,937.85. This represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AHCO shares. Weiss Ratings restated a “sell (d+)” rating on shares of AdaptHealth in a research report on Wednesday, October 8th. Wall Street Zen cut shares of AdaptHealth from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research downgraded shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a research report on Friday, September 19th. Finally, Canaccord Genuity Group upped their target price on shares of AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.60.

AdaptHealth 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.