Envestnet Asset Management Inc. Buys 81,760 Shares of AdaptHealth Corp. $AHCO

Envestnet Asset Management Inc. increased its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 115.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 152,679 shares of the company’s stock after buying an additional 81,760 shares during the period. Envestnet Asset Management Inc. owned 0.11% of AdaptHealth worth $1,440,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AHCO. Reinhart Partners LLC. lifted its position in 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 acquiring an additional 76,364 shares during the last quarter. Iron Triangle Partners LP acquired a new stake in AdaptHealth during the 1st quarter worth approximately $17,496,000. Charles Schwab Investment Management Inc. boosted its stake in AdaptHealth by 14.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company’s stock valued at $14,110,000 after purchasing an additional 163,272 shares during the period. Empowered Funds LLC grew its holdings in AdaptHealth by 2.0% in the 1st quarter. Empowered Funds LLC now owns 728,266 shares of the company’s stock valued at $7,894,000 after buying an additional 14,623 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in AdaptHealth by 1.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 597,160 shares of the company’s stock worth $5,631,000 after buying an additional 10,717 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Stock Performance

AHCO opened at $9.10 on Thursday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.33 and a beta of 1.72. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.09. AdaptHealth Corp. has a twelve month low of $7.11 and a twelve month high of $11.63. The company has a 50-day simple moving average of $9.21 and a 200 day simple moving average of $9.15.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Tuesday, November 4th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). AdaptHealth had a net margin of 2.53% and a return on equity of 4.85%. The firm had revenue of $820.31 million during the quarter, compared to the consensus estimate of $799.62 million. During the same period in the prior year, the business earned $0.15 earnings per share. AdaptHealth’s quarterly revenue was up 1.8% compared to the same quarter last year. AdaptHealth has set its FY 2025 guidance at EPS. Analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $9.73, for a total transaction of $79,786.00. Following the completion of the sale, the director directly owned 50,045 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AHCO shares. Weiss Ratings reissued a “sell (d+)” rating on shares of AdaptHealth in a report on Wednesday, October 8th. Canaccord Genuity Group lifted their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Zacks Research lowered shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a research report on Friday, September 19th. Finally, Wall Street Zen cut shares of AdaptHealth from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, AdaptHealth currently has a consensus rating of “Hold” and an average price target of $13.60.

About AdaptHealth

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.