CIBC Asset Management Inc Takes Position in AdaptHealth Corp. (NASDAQ:AHCO)

CIBC Asset Management Inc acquired a new position in AdaptHealth Corp. (NASDAQ:AHCO) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 10,846 shares of the company’s stock, valued at approximately $122,000.

Several other institutional investors have also recently made changes to their positions in AHCO. Vanguard Group Inc. boosted its stake in AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after purchasing an additional 818,241 shares during the period. Reinhart Partners LLC. boosted its position in shares of AdaptHealth by 45.2% during the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after acquiring an additional 1,929,339 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in AdaptHealth by 43.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after acquiring an additional 710,131 shares in the last quarter. Divisadero Street Capital Management LP grew its stake in AdaptHealth by 179.7% during the second quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock valued at $11,616,000 after acquiring an additional 746,340 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in AdaptHealth by 50.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 897,752 shares of the company’s stock valued at $8,978,000 after acquiring an additional 302,801 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird cut their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Canaccord Genuity Group lowered their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial cut their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, AdaptHealth currently has an average rating of “Moderate Buy” and an average target price of $11.67.

Insider Transactions at AdaptHealth

In other news, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the sale, the chief operating officer now directly owns 212,611 shares in the company, valued at approximately $2,389,747.64. This represents a 10.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $11.26, for a total value of $45,040.00. Following the transaction, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The trade was a 9.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.43% of the company’s stock.

AdaptHealth Trading Down 0.4 %

Shares of AHCO stock opened at $9.86 on Friday. The company has a market cap of $1.33 billion, a PE ratio of -5.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. AdaptHealth Corp. has a 1 year low of $6.43 and a 1 year high of $11.90. The stock’s 50 day simple moving average is $10.49 and its two-hundred day simple moving average is $10.45. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The company had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. Research analysts predict that AdaptHealth Corp. will post 0.88 earnings per share for the current year.

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.