Bridgewater Associates LP Has $458,000 Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Bridgewater Associates LP trimmed its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 50.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,742 shares of the company’s stock after selling 41,521 shares during the period. Bridgewater Associates LP’s holdings in AdaptHealth were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AHCO. Canada Pension Plan Investment Board bought a new stake in AdaptHealth during the second quarter worth about $58,000. Blue Trust Inc. bought a new stake in shares of AdaptHealth during the 2nd quarter worth approximately $85,000. Innealta Capital LLC acquired a new stake in shares of AdaptHealth during the 2nd quarter worth approximately $101,000. Quest Partners LLC increased its stake in AdaptHealth by 11,522.7% in the second quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock valued at $102,000 after acquiring an additional 10,140 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in AdaptHealth during the third quarter valued at approximately $122,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $10.04 on Tuesday. AdaptHealth Corp. has a 52 week low of $6.43 and a 52 week high of $11.90. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average price of $10.36 and a 200-day moving average price of $10.47. The company has a market cap of $1.35 billion, a PE ratio of -6.08, a price-to-earnings-growth ratio of 1.41 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million during 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 company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Equities analysts anticipate that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares in the company, valued at $2,389,747.64. This trade represents a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.43% of the company’s stock.

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.