AdaptHealth Corp. $AHCO Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. trimmed its position in AdaptHealth Corp. (NASDAQ:AHCO) by 26.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,415,537 shares of the company’s stock after selling 2,666,446 shares during the period. Reinhart Partners LLC. owned about 5.46% of AdaptHealth worth $77,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AHCO. Deerfield Management Company L.P. raised its position in shares of AdaptHealth by 15.9% in the third quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock valued at $102,726,000 after buying an additional 1,572,835 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in AdaptHealth by 15.6% during the third quarter. Dimensional Fund Advisors LP now owns 5,982,070 shares of the company’s stock worth $53,537,000 after acquiring an additional 809,459 shares during the last quarter. Iron Triangle Partners LP boosted its position in AdaptHealth by 35.6% during the fourth quarter. Iron Triangle Partners LP now owns 2,609,003 shares of the company’s stock worth $25,986,000 after acquiring an additional 684,871 shares during the last quarter. Lazard Asset Management LLC grew its stake in AdaptHealth by 1,246.3% in the 2nd quarter. Lazard Asset Management LLC now owns 686,720 shares of the company’s stock worth $6,474,000 after acquiring an additional 635,713 shares during the period. Finally, Invesco Ltd. grew its stake in AdaptHealth by 50.0% in the 2nd quarter. Invesco Ltd. now owns 1,906,074 shares of the company’s stock worth $17,974,000 after acquiring an additional 634,973 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AdaptHealth

In other news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction 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 directly owned 136,538 shares in the company, valued at approximately $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.95% of the company’s stock.

AdaptHealth Stock Performance

AdaptHealth stock opened at $5.69 on Friday. The firm has a market capitalization of $773.33 million, a PE ratio of -3.33, a price-to-earnings-growth ratio of 0.31 and a beta of 1.47. AdaptHealth Corp. has a one year low of $5.66 and a one year high of $13.43. The stock’s 50 day moving average price is $9.96 and its 200 day moving average price is $10.55. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.71 and a current ratio of 1.12.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Robert W. Baird set a $10.00 price target on AdaptHealth in a research note on Wednesday. Royal Bank Of Canada lowered their price objective on 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 AdaptHealth from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $13.00 in a research report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a research note on Friday, May 22nd. 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 analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.