Bastion Asset Management Inc. Has $5.24 Million Holdings in AdaptHealth Corp. $AHCO

Bastion Asset Management Inc. grew its position in AdaptHealth Corp. (NASDAQ:AHCO) by 17.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 530,013 shares of the company’s stock after acquiring an additional 78,854 shares during the quarter. AdaptHealth makes up about 2.9% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding. Bastion Asset Management Inc.’s holdings in AdaptHealth were worth $5,243,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AHCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in AdaptHealth by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after purchasing an additional 2,564 shares during the last quarter. Goldman Sachs Group Inc. increased its position in AdaptHealth by 32.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company’s stock worth $6,192,000 after purchasing an additional 139,828 shares during the last quarter. Woodline Partners LP acquired a new position in AdaptHealth in the 1st quarter worth about $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in AdaptHealth by 18.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company’s stock worth $2,534,000 after purchasing an additional 35,879 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in AdaptHealth by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company’s stock worth $1,997,000 after purchasing an additional 2,718 shares during the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. bought 447,100 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the purchase, the insider directly owned 16,312,698 shares in the company, valued at $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 2,494,518 shares of company stock worth $24,352,291. 1.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AHCO. Royal Bank Of Canada upped their target price on AdaptHealth from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. UBS Group dropped their target price on AdaptHealth from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings lowered AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reiterated a “hold” rating and set a $11.00 price target on shares of AdaptHealth in a research note on Monday, April 20th. Finally, Truist Financial upped their price target on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.29.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $10.33 on Wednesday. The business has a 50 day moving average price of $11.54 and a 200 day moving average price of $10.50. AdaptHealth Corp. has a twelve month low of $8.06 and a twelve month high of $13.43. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -16.66, a PEG ratio of 0.61 and a beta of 1.57. The company has a quick ratio of 0.71, a current ratio of 0.92 and a debt-to-equity ratio of 1.21.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The business had revenue of $819.80 million for the quarter, compared to the consensus estimate of $796.63 million. During the same quarter in the previous year, the company earned ($0.05) EPS. AdaptHealth’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that AdaptHealth Corp. will post 0.63 earnings per share for the current year.

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.