JPMorgan Chase & Co. lessened its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 31.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 878,682 shares of the company’s stock after selling 395,617 shares during the period. JPMorgan Chase & Co.’s holdings in AdaptHealth were worth $24,085,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AHCO. SV Health Investors LLC bought a new stake in shares of AdaptHealth during the 1st quarter valued at $107,033,000. Geode Capital Management LLC boosted its holdings in shares of AdaptHealth by 125.0% during the 1st quarter. Geode Capital Management LLC now owns 1,322,791 shares of the company’s stock valued at $48,625,000 after buying an additional 734,956 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of AdaptHealth by 11.3% during the 2nd quarter. BlackRock Inc. now owns 5,588,047 shares of the company’s stock valued at $153,168,000 after buying an additional 566,410 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in AdaptHealth by 26.1% in the 1st quarter. Deerfield Management Company L.P. Series C now owns 2,277,871 shares of the company’s stock worth $83,735,000 after purchasing an additional 471,539 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in AdaptHealth by 140.3% in the 1st quarter. Northern Trust Corp now owns 788,264 shares of the company’s stock worth $28,977,000 after purchasing an additional 460,248 shares in the last quarter. Hedge funds and other institutional investors own 50.87% of the company’s stock.
AHCO has been the topic of a number of analyst reports. Truist dropped their price target on shares of AdaptHealth from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Investment Research cut shares of AdaptHealth from a “hold” rating to a “sell” rating in a research note on Wednesday, August 25th. SVB Leerink initiated coverage on shares of AdaptHealth in a research note on Monday, September 27th. They issued an “outperform” rating and a $30.00 price target on the stock. Robert W. Baird upgraded shares of AdaptHealth from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $30.00 to $36.00 in a research note on Wednesday, July 14th. Finally, Truist Securities decreased their target price on AdaptHealth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $39.40.
AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.17). AdaptHealth had a net margin of 2.40% and a return on equity of 8.18%. The business had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $574.03 million. The firm’s quarterly revenue was up 165.8% on a year-over-year basis. As a group, equities research analysts anticipate that AdaptHealth Corp. will post 1.33 EPS for the current year.
AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.
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